At last check, silver futures for September delivery was down 0.89% to $14.85 an ounce on the CEC as of 3:49 p.m. ET today.
Spot silver was down 0.7% at $14.86 an ounce.
Precious metal prices including gold and platinum also traded in the red on Friday, amid a stronger dollar and U.S. data that increased bets on a Federal Reserve interest rate hike this year, according to Reuters.
About 7.3 million shares of Hecla have exchanged hands as of 4:05 p.m. ET today, compared to its average trading volume of about 4.79 million shares a day.
Hecla Mining is a low-cost U.S. silver producer with operating mines in Alaska, Idaho and Quebec, Canada.
Separately, 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 reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Metals & Mining industry. The net income increased by 7.8% when compared to the same quarter one year prior, going from $11.64 million to $12.55 million.
- The current debt-to-equity ratio, 0.37, is low and is below the industry average, implying that there has been successful management of debt levels. Along with this, the company maintains a quick ratio of 2.70, which clearly demonstrates the ability to cover short-term cash needs.
- Despite the weak revenue results, HL has outperformed against the industry average of 17.4%. Since the same quarter one year prior, revenues slightly dropped by 5.3%. Weakness in the company's revenue seems to not be hurting the bottom line, shown by stable earnings per share.
- HL's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 30.15%, which is also worse than the performance of the S&P 500 Index. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
- Net operating cash flow has decreased to $21.42 million or 29.50% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
- You can view the full analysis from the report here: HL Ratings Report