=Hecla Mining (HL) reported earnings on Tue 8 Nov 2016 (b/o)

Hecla Mining beats by $0.01, beats on revs :

• Reports Q3 (Sep) earnings of $0.07 per share, $0.01 better than the Capital IQ Consensus of $0.06; revenues rose 70.9% year/year to $179.39 mln vs the $167.73 mln Capital IQ Consensus.
• Total silver production of 4.3 million ounces, up 67%; Gold production of 52,126 ounces, up 19%; Silver equivalent production of 10.3 million ounces, up 17%.
• Exploration and pre-development expenses were $3.9 million and $0.6 million, respectively, in the third quarter of 2016. This is a decrease of $1.7 million and $1.1 million, respectively, compared to the third quarter 2015 as a result of reduced discretionary spending in exploration and pre-development expenses. Full year exploration and pre-development expenses are expected to be about $19 million.
• The average realized silver price in the third quarter was $19.53 per ounce, 34% higher than the $14.54 price realized in the third quarter of 2015. The average realized gold price in the third quarter was $1,341 per ounce, 20% higher than the prior year period. Realized lead and zinc prices also increased by 10%, and 22%, respectively, from the third quarter of 2015.
• FY16 Guidance: For the full year 2016, the Company increased its production estimates at Greens Creek and Lucky Friday. It also lowered the cash cost, after by-product credits, per silver ounce, estimate at San Sebastian and increased the cash cost, after by-product credits, per gold ounce, estimate at Casa Berardi.
  • Co sees total silver production of 16.25 Moz (Prior 15.8), sees total gold production of 233k oz (Unchanged from prior)