Hecla Mining reports Q4 adjusted EPS 5c, consensus 0c

Reports Q4 revenue $718.9M, consensus $197.8M. Record silver reserves of 241 million ounces, gold reserves of 2.6 million ounces. Produced 14.2 million ounces of silver, Hecla’s second highest, and 175,807 ounces of gold. Record lead production of 49 thousand tons and zinc production of 65 thousand tons. "Hecla is the world’s fastest growing established silver company," said CEO Phillips Baker Jr. "This growth has been built on the strong foundation of Greens Creek, the United States’ largest silver mine, and the Lucky Friday, a mine in production for 80 years whose throughput this year was the most in its history. Added to these growing mines is Keno Hill, one of the world’s highest grade silver mines, which we expect to be in production in the second half of this year. In 2022, we achieved our largest silver reserves and second highest silver production in our history, and expect to set new records in 2023 and 2024. If our growth continues as expected, Hecla would produce not only 40% of all the silver mined in the US, but also 40% of all silver mined in Canada. In 2022, we had among the best silver margins in the industry with AISC a little more than half of our realized silver price allowing us to maintain a strong balance sheet even after significant investment in the Lucky Friday and Keno Hill. We expect silver AISC in 2023 to be about the same as 2022 despite inflationary pressures and increased investment in all our mines. With our largest silver reserves, our growing production in Canada and the US, and strong silver margins, we believe our shareholders are well-positioned for higher silver prices as the transition to renewables increases the need for silver as an energy metal."