NEW YORK (TheStreet) -- Shares of Hecla Mining(HL) - Get Report were falling 4.87% to $1.86 Thursday after the silver mining company missed analysts' estimates for earnings and revenue in the second quarter.
Hecla Mining reported a loss of 5 cents a share for the second quarter, below analysts' estimates of a loss of 1 cent a share for the quarter. Revenue fell 11.3% year over year to $104.2 million for the quarter, compared to analysts' estimates of $115.58 million.
The company produced 2.48 million ounces of silver at a cash cost, after by-product credits, of $5.61 an ounce in the second quarter, down 2% from 2.52 million ounces at a cash cost, after by-product credits, of $5.34 an ounce in the year-ago quarter.
"Despite lower silver prices, we continue to advance growth projects like San Sebastian and #4 Shaft at Lucky Friday for their potential to increase production of high-grade ounces at low cash costs, after by-product credits," President and CEO Phillips S. Baker, Jr. said in a statement. "Our assets, particularly Greens Creek with its recent improvements in recovery, have allowed us to weather the metals price weakness, and we retain the ability to reduce costs and programs if prices remain weak or go lower."
TheStreet Ratings team rates HECLA MINING CO as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate HECLA MINING CO (HL) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow."
You can view the full analysis from the report here: HL Ratings Report