(Kitco News) - An increase in production and higher silver prices helped America’s largest silver producer achieve record revenue in 2024.
On Thursday, after the North American equity markets closed, Hecla Mining (NYSE: HL) released its fourth-quarter and full-year 2024 earnings. The company reported a basic income of $0.06 per share for the year, missing analyst forecasts of $0.11 per share.
However, investors have plenty to celebrate as the company reported a record adjusted EBITDA of $337.9 million. At the same time, the senior silver producer reported record silver sales valued at $929.9 million.
The company said that it saw solid margin growth, with cash flow from operating activities rising to $218.3 million, an increase of $142.8 million over 2023.
The improved margins came as silver prices rallied more than 21% last year. However, Hecla also produced 16.2 million ounces of silver, the second-highest in the company's history.
The company also saw solid pipeline production growth as it increased its reserves to 240 million ounces, the second-highest in the company's history.
“Our renewed focus on optimizing cash flow generation and return on capital investment will drive shareholder value, supported by four key pillars: stakeholder relationship management, capital discipline, technical innovation, and environmental stewardship. As part of this commitment to disciplined capital allocation, we have streamlined our dividend policy to eliminate the silver-linked component, enabling us to pursue significant growth opportunities, particularly at Keno Hill,” said Rob Krcmarov, President and CEO of Hecla, in the earnings report.
