Dallas, Texas 08/05/2014 (FINANCIALSTRENDS) – Hecla Mining Company (NYSE:HL) which is headquartered in the US, engages in mining precious metals as well as lead and zinc. The company has announced its second quarter results and is now on recovery mode at the stock markets, following a slide in prices on the day of the announcement.
Downward Slide In Earnings
The precious metal and other metal miners had seen a drop in earnings share in the second quarter, with a net loss to the tune of $14.5 million, at approximately 4 cents per share. Though the losses this quarter are much lesser than the $25 million and 8 cents share loss of last year for the same period, the results did not match expectations.
Away Off Milestones
Hecla Mining Company (NYSE:HL) on the day of its earnings’ call ended the trading session at $3.09. This price factor on a 20-Day simple moving average is lesser by 6.49%. Meanwhile, the comparison to the 30-Day performance stood even lesser at 10.17%. In comparison to annual –peak, the prices have seen a fall of close to 22.15%.
This was despite the reported increase in silver and gold production that was at 14% and 96% on a year to year comparison.
Production Details For Q2
Hecla Mining Company (NYSE:HL) reported gold production of 28.623 ounce from Casa Berardi, which was found to be much lesser than previous quarter production by 8.4%. From its Greens Creek, the production of silver was down slightly, as it saw only 1.7 million oz mined. At Lucky Friday, the production of silver was found to have increased to 278% over the past year. The increase in production at this outlet is of significance to HL as this facility is now reflecting the results of full production.