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Kurt Allen, Vice President of Exploration at Hecla Mining Co. (NYSE:HL), recently sold shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Allen sold 9,195 shares on February 26, 2025, at a price of $5.18 per share, totaling approximately $47,630. This transaction was part of a move to cover tax liabilities related to an earlier incentive plan.
In addition to the sale, Allen acquired 32,500 shares on February 24, 2025, as part of the company’s long-term incentive plan, with no monetary exchange involved. The acquisition increased his direct ownership to 113,707 shares. Furthermore, Allen holds an estimated 23,737 shares in his 401(k) plan under the Hecla Mining Company Capital Accumulation Plan.
As of the latest filing, Allen’s direct holdings consist of 23,305 shares, alongside 81,207 unvested restricted stock units.
In other recent news, Hecla Mining Company reported its fourth-quarter 2024 earnings, showing a shortfall in earnings per share (EPS) compared to analysts’ expectations. The company posted an EPS of $0.02, which was below the forecasted $0.06. However, Hecla exceeded revenue expectations, achieving $249.66 million against the anticipated $240.77 million. Despite the EPS miss, the company recorded record revenues for 2024, driven by strong silver and gold sales, amounting to over $900 million for the year.
In another development, Hecla Mining disclosed a significant capital-raising initiative through an SEC filing, revealing the sale of over 23 million shares and the registration of an additional 36 million shares for potential sale. This move is part of an Equity Distribution Agreement with financial institutions such as BMO Capital Markets and J.P. Morgan Securities. The company has already sold 23,843,684 shares under this agreement, with the remaining shares now registered for sale.
Additionally, Hecla Mining is focusing on infrastructure investments and potential asset divestments, as indicated in their strategic plans. The company has set a 2025 silver production guidance of 15.5 to 17 million ounces and aims to further reduce its net leverage ratio. The company is also considering the potential sale of its Casa Berardi asset, which could aid in deleveraging efforts. These recent developments highlight Hecla Mining’s ongoing efforts to strengthen its financial position and operational performance.
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