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Michael L. Clary, Senior Vice President and Chief Accounting Officer of Hecla Mining Co. (NYSE:HL), recently reported a significant stock transaction. On February 26, Clary sold 32,387 shares of Hecla Mining common stock at an average price of $5.18 per share, amounting to a total sale of approximately $167,764. This transaction was executed to cover tax liabilities related to a long-term incentive plan. The sale price was near the current trading price of $5.26, with the stock showing strong momentum, up 48% over the past year. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
In addition to the sale, Clary acquired 47,667 shares on February 24 as part of the company’s long-term incentive plan, with the shares valued at zero cost. These shares were awarded under the 2022-2025 Long-term Incentive Plan and are part of Clary’s compensation package. The mining company, with a market capitalization of $3.28 billion, maintains a "FAIR" financial health score, and analysts maintain a bullish outlook on the stock.
Following these transactions, Clary’s direct holdings amount to 139,173 shares, along with 107,267 unvested restricted stock units. Additionally, he holds an estimated 12,503 shares in his 401(k) account under the Hecla Mining Company Capital Accumulation Plan. Discover more insights about Hecla Mining and access comprehensive analysis with InvestingPro, which offers 8 additional ProTips and detailed financial metrics.
In other recent news, Hecla Mining Company reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.02, which fell short of the analysts’ forecast of $0.06. However, the company exceeded revenue expectations, achieving $249.66 million against a projected $240.77 million, driven by strong silver and gold sales. Hecla Mining also disclosed in a recent SEC filing the sale of over 23 million shares and registered an additional 36 million shares for potential sale, as part of an equity distribution agreement with financial institutions such as BMO Capital Markets and J.P. Morgan Securities. This agreement allows the company to raise capital through share sales, although the intended use of the proceeds has not been specified.
Hecla Mining achieved record revenues exceeding $900 million for the year 2024, with significant contributions from silver and gold. The company has set a 2025 silver production guidance of 15.5 to 17 million ounces, indicating a focus on maintaining robust production levels. Additionally, the firm aims to further reduce its net leverage ratio below 1x, showcasing a commitment to strengthening its financial position. The company plans to continue investing in infrastructure at Keno Hill and is evaluating the potential divestment of its Casa Berardi asset. These developments reflect Hecla Mining’s ongoing strategic efforts to optimize its portfolio and financial health.
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