Hecla Mining Q3 2024 Update

TL;DR

Hecla Mining's Q3 2024 results are in. Check the 10-Q for the latest numbers.

AI Summary

Hecla Mining Company reported its third quarter results for the period ending September 30, 2024. The company's filing provides details on its financial performance and operational status. Specific financial figures and operational metrics are detailed within the report.

Why It Matters

This filing provides investors with the latest financial and operational data for Hecla Mining, crucial for understanding the company's performance and future outlook in the mining sector.

Risk Assessment

Risk Level: medium — As a mining company, Hecla is subject to commodity price volatility, operational risks, and regulatory changes, which can significantly impact its financial performance.

Key Numbers

• Q3 2024 — Reporting Period (Covers the third quarter of 2024.)
• 2024-09-30 — As of Date (End of the reporting period.)

Key Players & Entities

• HECLA MINING CO/DE/ (company) — Filer
• 20240930 (date) — Period of Report
• 20241107 (date) — Filing Date
• COEUR D'ALENE, ID (location) — Business Address

FAQ

Key Financial Figures

• $0.25 — ch registered Common Stock, par value $0.25 per share HL New York Stock Exchang

Filing Documents

• hl-20240930.htm (10-Q) — 4722KB
• hl-ex10_3.htm (EX-10.3) — 57KB
• hl-ex31_1.htm (EX-31.1) — 16KB
• hl-ex31_2.htm (EX-31.2) — 16KB
• hl-ex32_1.htm (EX-32.1) — 9KB
• hl-ex32_2.htm (EX-32.2) — 10KB
• hl-ex95.htm (EX-95) — 57KB
• img156728783_0.jpg (GRAPHIC) — 139KB
• img156728783_1.jpg (GRAPHIC) — 139KB
• img156728783_2.jpg (GRAPHIC) — 134KB
• img156728783_3.jpg (GRAPHIC) — 141KB
• img156728783_4.jpg (GRAPHIC) — 117KB
• img156728783_5.jpg (GRAPHIC) — 119KB
• 0000950170-24-123004.txt ( ) — 14857KB
• hl-20240930.xsd (EX-101.SCH) — 1472KB
• hl-20240930_htm.xml (XML) — 2224KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - Three Months Ended and Nine Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows - Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Balance Sheets - September 30, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Changes in Stockholders' Equity – Three Months Ended and Nine Months Ended September 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements (unaudited) 8

Forward-Looking Statements

Forward-Looking Statements 21 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Overview 22 Consolidated Results of Operations 23 Reconciliation of Total Cost of Sales to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Cost, Before By-product Credits and All-In Sustaining Cost, After By-product Credits (non-GAAP) 37 Financial Liquidity and Capital Resources 50 Contractual Obligations, Contingent Liabilities and Commitments 53 Critical Accounting Estimates 53 Off-Balance Sheet Arrangements 53 Guarantor Subsidiaries 54 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 57 Item 4.

Controls and Procedures

Controls and Procedures 58 PART II. OTHER INFORMATION 59 Item 1.

Legal Proceedings

Legal Proceedings 59 Item 1A.

Risk Factors

Risk Factors 59 Item 4. Mine Safety Disclosures 59 Item 5. Other Information 59 Item 6. Exhibits 60

Signatures

Signatures 61 *Items 2 and 3 of Part II are omitted as they are not applicable. 2

- Fin ancial Information

Part I - Fin ancial Information

Fina ncial Statements

Item 1. Fina ncial Statements Hecla Mining Company and Subsidiaries Condensed Consol idated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (Dollars and shares in thousands, except for per-share amounts) Three Months Ended Nine Months Ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Sales $ 245,085 $ 181,906 $ 680,270 $ 559,537 Cost of sales and other direct production costs 144,855 112,212 406,780 345,516 Depreciation, depletion and amortization 40,944 36,217 143,614 107,937 Total cost of sales 185,799 148,429 550,394 453,453 Gross profit 59,286 33,477 129,876 106,084 Other operating expenses: General and administrative 10,401 7,596 36,357 30,449 Exploration and pre-development 10,553 13,686 21,577 25,546 Ramp-up and suspension costs 13,679 21,025 33,740 48,684 Provision for closed operations and environmental matters 1,542 2,256 3,681 6,411 Write down of property, plant and equipment 14,464 — 14,464 — Other operating (income) expense, net ( 13,828 ) 1,555 ( 48,082 ) ( 2,729 ) Total other operating expenses 36,811 46,118 61,737 108,361 Income (loss) from operations 22,475 ( 12,641 ) 68,139 ( 2,277 ) Other expense: Interest expense ( 10,901 ) ( 10,710 ) ( 36,050 ) ( 31,186 ) Fair value adjustments, net 3,654 ( 6,397 ) 6,804 ( 5,774 ) Net foreign exchange (loss) gain ( 3,246 ) 4,176 3,409 434 Other income 1,229 1,657 3,921 4,425 Total other expense ( 9,264 ) ( 11,274 ) ( 21,916 ) ( 32,101 ) Income (loss) before income and mining taxes 13,211 ( 23,915 ) 46,223 ( 34,378 ) Income and mining tax (provision) benefit ( 11,450 ) 1,500 ( 22,345 ) ( 6,904 ) Net income (loss) 1,761 ( 22,415 ) 23,878 ( 41,282 ) Preferred stock dividends ( 1

View Full Filing

View this 10-Q filing on SEC EDGAR