The global financial cycle has a few tail ends, and the two are typically divided between stocks and commodities. When one performs, the other tends to underperform, with currency performance in the middle of the price action. Today, the dollar index has retreated from its recent highs, causing the price of dollar-quoted commodities to rise toward new all-time highs. One of the main basic materials catching a lot of attention is gold. Gold prices are now at a new all-time high, which is a vote of no confide ...

Company Overview - Hecla Mining (HL) shares increased by 5.9% to $6.82 in the last trading session, with a notable trading volume, and have gained 16% over the past four weeks [1][2] - The company is part of the Zacks Mining - Silver industry, which includes Pan American Silver (PAAS) [4] Silver Price Impact - The rise in Hecla Mining's shares is attributed to an increase in silver prices, currently at approximately $30.84 per ounce, marking a two-month high [2] - The increase in silver prices is driven by expectations of a more aggressive interest rate cut by the Federal Reserve, with a 59% chance of a 50-basis point cut following weak August payroll data [2] Earnings Expectations - Hecla Mining is projected to report quarterly earnings of $0.02 per share, reflecting a year-over-year increase of 300%, with revenues expected to reach $201.63 million, up 10.8% from the previous year [3] - The consensus EPS estimate for Hecla Mining has been revised 33.3% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [4] Industry Comparison - Pan American Silver, another company in the same industry, has a consensus EPS estimate of $0.20, representing a significant year-over-year change of 1900% [5] - Both Hecla Mining and Pan American Silver currently hold a Zacks Rank of 3 (Hold) [4][5]

Company Overview - Hecla Mining Company (NYSE: HL) is a gold and silver mining firm that has recently gained attention due to significant stock activity following a purchase by Congress member Debbie Wasserman Schultz [1][2]. Stock Performance - Since Representative Schultz's purchase on August 9, 2024, HL's stock has increased by 29%, rising from $5.04 to $6.51 by September 12, 2024 [2]. - The stock's rally is notable as it has generally maintained a low profile among politicians, raising questions about potential insider information [2][8]. Financial Results - For Q2 2024, Hecla Mining reported revenue of $245.7 million, representing a 38% year-over-year growth and surpassing analyst estimates by 16% [6]. - The company produced 4.5 million ounces of silver, a 3.7% increase year-over-year and a 43% increase from the previous quarter. Gold production also rose by 2% to 37,324 ounces compared to Q1 2024 [7]. Market Conditions - The surge in HL's stock price can be attributed to favorable market conditions, including rising silver prices and increased global demand for precious metals [5]. - Amid fears of a potential recession, gold prices have also surged, as investors view gold as a hedge against economic challenges [5]. Political Context - The significant stock movement following a political purchase has raised concerns about the access to privileged information by lawmakers, especially in light of ongoing scrutiny regarding Congressional trading practices [8][9]. - A bipartisan proposal is being considered to ban members of Congress from trading stocks, which would also extend to their spouses if enacted [10].

Financial Performance - Hecla Mining Company achieved record revenues and free cash flow generation of $283 million in Q2 2024[8, 11] - The company experienced a $251 million reduction in net debt, reflecting a deleveraging focus[8, 10] - The realized silver price in Q2 2024 was $2977 per ounce, leading to an increased silver-linked dividend payout to $001 per share[10] - The company's net leverage ratio improved by 15% from Q1 2024 to Q2 2024, reaching 23x[10, 35] - Adjusted EBITDA for Q2 2024 was $242752 million[35] Production and Operations - Projected silver production growth of 19% to 17 million ounces in 2024, and a 40% increase to 20 million ounces by 2026 compared to 2023[8] - Lucky Friday achieved record silver production and throughput at 1181 tons per day[16] - Greens Creek's average throughput was 2481 tons per day, with silver grades of 126 ounces per ton[15] - Keno Hill's throughput increased to 406 tons per day[21] Guidance and Outlook - The company expects to receive approximately $50 million in insurance proceeds in 2024[3, 16] - Lucky Friday silver production is expected to reach 5 million ounces in 2024[3, 16, 18] - The company anticipates increasing silver demand for solar in 2024 by 40 million ounces, a 20% increase over 2023[30]

Hecla Mining (HL) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this precious metals company would post a loss of $0.02 per share when it actually produced earnings of $0.01, delivering a surprise of 150%. Over the last four quarters, the co ...

Core Viewpoint - Hecla Mining (HL) has reached a significant support level and shows potential for investors from a technical perspective, with a recent bullish trend indicated by breaking through the 20-day moving average [1][2] Technical Analysis - HL has gained 11.6% over the past four weeks, suggesting a positive momentum [2] - The 20-day simple moving average (SMA) is a key indicator, with prices above this level indicating a positive trend [1] Earnings Estimates - No earnings estimates for HL have been lowered in the past two months, while one estimate has been raised for the current fiscal year, indicating a positive outlook [2] - The consensus estimate for HL has also increased, reinforcing the bullish case for the stock [2] Investment Recommendation - HL is currently ranked a Zacks Rank 1 (Strong Buy), suggesting that the stock could continue to move higher [2]

Production Performance - Hecla Mining reported lead production of 13,586 tons, reflecting a 12% increase on a sequential basis [1] - Zinc output for Hecla Mining was 16,191 tons, remaining fairly flat compared to the first quarter of 2024 [1] - The Lucky Friday mine produced 1.3 million ounces of silver in the second quarter, marking a 23% increase quarter over quarter [2] - Greens Creek mine produced 2.2 million ounces of silver, a 9% sequential increase, while gold production decreased by 3% to 14,137 ounces [3] - Keno Hill produced 900,440 ounces of silver, up 39% sequentially due to a 47% increase in throughput [11] - Casa Berardi mine produced 23,187 ounces of gold, up 5% from the first quarter of 2024 [12] Company Guidance - Hecla Mining is on track to produce 17 million ounces of silver in 2024, compared to 14.3 million ounces in 2023 [13] - Fortuna Mining Corp. reported gold equivalent production of 116,570 ounces, a 4% increase from the first quarter of 2024 [7] - Endeavour Silver Corp. reported silver equivalent production of 2,156,453 ounces, down 5% year over year, while gold production increased by 7% [8] Market Performance - Hecla Mining shares have gained 3.7% over the past year, while the industry has seen a growth of 57.3% [14] - Buenaventura Mining currently holds a Zacks Rank 1, with a consensus estimate for 2024 earnings pegged at $1.41 per share, reflecting a 41% increase in estimates over the past 60 days [16]

Hecla Mining (HL) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, HL broke through the 20-day moving average, which suggests a short-term bullish trend. The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, shortterm traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-t ...

Current chair Catherine J. Boggs has been named interim president and CEO. Kitco News - Hecla Mining Company (NYSE:HL) announced today that Phillips S. Baker Jr. is retiring, effective immediately. "I would like to thank Phil for his years of service and valued contributions to Hecla and the silver industry overall. The Board will immediately begin a search for a new Chief Executive, and we are confident that we will find the right, highly qualified individual to lead Hecla," said Boggs in a news release wh ...

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Hecla Mining (HL) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question. Hecla Mining is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups ...