Hecla Mining Posts Profit In Q2

(RTTNews) - Hecla Mining Co. (HL), a producer of gold and silver, Thursday reported a profit of applicable to common shareholders of $11.9 million or $0.03 per share for the second quarter. This compares with last year's net loss of $24.1 million or $0.06 per share.

The results reflect gain on base metal derivative contracts, net foreign exchange gain and lower income tax provision.

Adjusted EBITDA for the quarter rose to $57.7 million from $48.5 million in the year-ago quarter, mainly due to higher gold and base metals prices.

Sales for the second quarter rose to $147.26 million from $134.28 million last year.