Greater output lifts their cash flow

Article Excerpt

HECLA MINING COMPANY $5.88 (New York symbol HL; TSINetwork Rating: Extra Risk) (208-769-4100; www. hecla-mining.com; Shares outstanding: 395.3 million; Market cap: $2.4 billion; Dividend yield: 0.2%) explores for, mines and processes silver and gold in the U.S., Canada and Mexico. Most of the company’s silver output comes from three sites: the Greens Creek mine in Alaska; the Lucky Friday project in Idaho; and the San Sebastian mine in Mexico. Hecla’s Casa Berardi mine in Quebec, which it bought for $796 million in June 2013, supplies its gold. In the three months ended September 30, 2016, the company’s gold output rose 19.5%, to 52,126 ounces from 43,635. Hecla produced 4.3 million ounces of silver—up 66.6% from 2.6 million a year earlier. The rise came from higher ore grades at its mines, as well as output from its new San Sebastian mine in Mexico. The company started up San Sebastian in December 2015. Longer term, it aims to build another silver mine at its Montanore…