Hecla Mining Co. (HL) Friday reported lower profit for the first quarter hurt by lower precious metal pricing. Earnings per share however were flat with last year. Further, adjusted earnings per share were lower than analyst estimates.
For the quarter the company reported profit attributable to shareholders of $10.95 million, down from $12.43 million last year. On a per share basis, earnings remained flat at $0.04.
On an adjusted basis, the company posted earnings per share of $0.01 for the quarter. Six analysts on average polled by Thomson Reuters had estimated earnings of $0.0.4 per share. Analyst estimates typically exclude one-time items.
The firm clocked revenue of $76.45 million, down from $91.15 million a year ago. Analysts on average were looking for revenue of $94.78 million for the period.
Realized silver prices in the quarter were $28.86 per ounce, lower than $36.59 per ounce last year. Besides, realized gold prices were $1620 per ounce, down from $1751 per ounce last year.
Hecla declared quarterly dividend of $0.0025 per share, payable on or about June 5, to shareholders of record on May 28.
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