Dallas, Texas 02/24/2014 (FINANCIALSTRENDS) – Hecla Mining Company (NYSE:HL) has since reported that the poor and woeful days of 2013 are now beyond it. During the past year the stock prices of this company had recorded a slash in prices by over half of its prices from before.
Hecla Mining Company(NYSE:HL) at the end of the year in 2013, however, was able to view great upside given the higher serves it held for gold and silver. Through the year of 2013, the stocks had declined from 29% and 36% respectively. The reserves for both the precious metals for the company have now risen by over 190% as well as 13% respectively, over previous year. The last count for gold was noted to be 2.1 million ounces. While that for silvers was at 170 million ounces, which was the reserves which are both in the proven and probable segments.
Fall in reserves for peers
For Hecla Mining Company(NYSE:HL) the growth in reserves has never been better. In comparison to other companies, this is one of the most exciting phases for Hecla as the company now holds reserves which will help in gaining traction. One of the most prominent of the stocks to show that the slow down that can happen when paucity of reserves strikes is Barrick Gold. The company has reported slash in reserves by over 25%. This increase is now much higher than the previous 140.2 million ounces it saw during the close of year at 104.1 million ounces. This increase in gold price is at the stage of $1,500 per ounce, whereas the overall increase was only 1,000 per ounce. Therefore, it was evident that along with Barrickothers such as Goldcorp too recorded asset impairments. This has indeed led to massive financial downslide for the bigger players that they are. Hecla has by far been one of the few stocks to have recorded substantial increase in reserves.