Hecla Mining reports Q1 EPS 1c, consensus (1c)

Reports Q1 revenue $189.5M, consensus $188.6M. “The first quarter reflects an inflection point with the strong performance from Greens Creek, achieving full production at the Lucky Friday, and significant improvements in safety, environment, and production from Keno Hill,” said Phillips S. Baker Jr., CEO. “With this strong start to the year, we are well-positioned to achieve our production and cost guidance for 2024. Silver demand for solar has been growing at a remarkable 17% annual growth rate over the past five years and is projected to continue. In India, buyers long known as being price sensitive, are importing silver in record quantities despite higher silver prices. Solar and India represent more than 35% of world demand and continues to grow. Hecla is the largest U.S. silver producer and is on track to be Canada’s largest this year. With silver production growth expected up to 20 million silver ounces by 2026, Hecla is the fastest growing established silver producer and should benefit from this strong and growing demand.”