Thu, Jan. 15, 12:35 PM
- Gold, silver, platinum and palladium are spiking today on Switzerland's surprise move to abandon its currency floor, and shares of the miners are following suit: GDX +6.1%.
- "Gold is much stronger as the 'safety' of the Swiss Franc vanishes,” commented Dave Lutz of JonesTrading.
- Peter Boockvar believes that in "a world of currency battles with printing presses that are extraordinarily large... gold will be the last man standing... the gold bear market is over and will go substantially higher from here."
- Against a backdrop of concerns about global growth, deflation and renewed volatility, gold has been climbing since November as other growth-sensitive commodities such as oil and copper have sold off.
- Among precious metals miners: BTG +9.5%, GG +8.9%, KGC +8.7%, NEM +8.3%, AUY +8.1%, EGO +7.4%, [AGI +7%, [ABX]] +6.2%, NG +5.9%, AUQ +5.6%, FNV +5.5%, RGLD +5.4%, IAG +4.8%, GFI +4.2%, HL +4.2%, SLW +3.1%.
- Other ETFs: NUGT, GDXJ, DUST, SIL, JNUG, GLDX, JDST, SLVP, SILJ, RING, SGDM, PLTM, PSAU
Wed, Jan. 14, 9:46 AM
- Hecla Mining (HL +1.6%) reports FY 2014 silver production of 11.1M oz., a 24% increase over 2013, and gold production of just below 187K oz., up 56% Y/Y.
- Silver equiv. production totaled a record high 34.5M oz. for 2014, up 50% from 2013 and topping company guidance.
- Capital spending of ~$132M came in $18M below company guidance; HL will provide 2015 guidance in mid-February.
- HL remains operationally free cash flow positive, due to by-product revenue at Greens Creek.
Dec. 26, 2014, 3:34 PM
- Spurred by hopes China's efforts to relax lending rules are a sign that broader (inflation-boosting) stimulus efforts are on tap, gold and silver prices are rallying, and taking the shares of miners up with them. COMEX gold is up 1.8% to $1,194.50/oz., and COMEX silver is up 2.5% to $16.11/oz. GLD +1.7%. SLV +2.2%.
- Gold stocks: AUY +3%. GG +4.6%. AGI +4.1%. ABX +3.4%. KGC +3.7%. GFI +3.7%.
- Silver stocks: SLW +2.3%. SSRI +6.9%. PAAS +1.9%. AG +3.6%. CDE +4.1%. HL +4.2%. SVM +6.8%. EXK +5.4%. TAHO +5.3%.
- Like many other commodities names, the group was hit hard a month ago when crude prices plunged in response to OPEC's decision to leave oil production unchanged.
- ETFs: AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, OUNZ, DGL, DBS, DGZ, DGLD, AGOL, TBAR, USV, UBG, GLDE, BAR, GYEN, GEUR, BARS, GGBP
Nov. 28, 2014, 1:21 PM
- Already hit hard over the last two years by declining prices, gold and silver miners saw more pain today as commodity stocks in general got hammered thanks to OPEC's decision not to slash crude production.
- Decliners: ABX -8%. GG -6.1%. AUY -9.8%. KGC -8.2%. GFI -9.9%. SLW -7%. NEM -5.8%. AGI -6.9%. PAAS -9%. AG -15.4%. SSRI -11.6%. CDE -11.4%. HL -8.8%. TAHO -7.8%.
- Previous: Precious metals slide alongside oil; Swiss vote ahead
Oct. 6, 2014, 2:45 PM
- Gold prices bounce off 15-month lows to reclaim $1,200/oz. as the dollar rally pauses, helping strengthen shares of precious metals miners: AU +4.4%, GFI +3%, IAG +1.9%, BTG +3%, GG +2.2%, NGD +1.5%, KGC +1.6%, AGI +1.6%, RGLD +1%, SLW +2.1%.
- Sterne Agee analysts Michael Dudas and Satyadeep Jain foresee gold and silver prices trending higher, with gold averaging $1,400/oz. in 2015 and $1,450 in 2016 and silver averaging $19 next year and $21 in 2016, as “global demand remains firm, liquidity remains ample and the dollar appears overbought.”
- With investor sentiment still skeptical, Sterne thinks any supportive macro news flow could provide fuel for a rally; the firm rate Newmont Mining (NEM +1.5%), Agnico-Eagle Mines (AEM +2.4%), Coeur Mining (CDE +1.3%) and Gold Resource (GORO +0.2%) as Buys, with Barrick Gold (ABX +0.5%), Hecla Mining (HL +4.3%) and Pan American Silver (PAAS +1.5%) rated Neutral.
- ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, OUNZ, DGLD, AGOL, DBP, TBAR, USV, UBG, JJP, GLDE, BAR, GYEN, GEUR, RGRP, BARS, GGBP, BLNG
Oct. 1, 2014, 12:02 PM
- Hecla Mining (HL +4.6%) shares are strong after earning an upgrade to Buy from Hold at BB&T, which sees HL's risk/reward too compelling to ignore with the stock ~$2.50 from a high of $11-plus in 2011.
- The firm cites many factors in HL's favor: low silver cash costs/oz., capex flexibility, little in the way of near-term debt maturities, an under-appreciated zinc/lead component which could improve HL's cost position relative to peers even further, share repurchase capacity, and a major overhang lifted following the final Coeur d'Alene Basin settlement payment.
Jul. 14, 2014, 8:58 AM
- Hecla Mining (NYSE:HL) -2.9% premarket after its preliminary Q2 production update said silver production rose 14% Y/Y and gold production rose 96% Y/Y.
- Casa Berardi's Q2 gold production of 28,623 oz. was 8.4% lower Q/Q, Greens Creek's Q2 production of 1.7M oz. of silver was down slightly Q/Q, and Lucky Friday increased silver production by more than 278% Y/Y, reflecting the impact of the mine now operating at full production levels.
Mar. 3, 2014, 9:55 AM
- Gold futures are surging in the wake of the crisis in Ukraine, and that's giving precious metals miners a big boost in early trading.
- AU +5.2%, GOLD +5%, GFI +4.6%, MUX +4.1%, BVN +3.9%, MVG +3.6%, SSRI +3.3%, IAG +3.2%, BTG +3.1%, HMY +3.1%, EXK +3.1%, ABX +2.8%, AUY +2.8%, SA +2.8%, SLW +2.7%, GG +2.7%, NEM +2.6%, HL +2.6%, KGC +2.3%, AGI +2.2%, AG +1.9%, NG +1.9%, PPP +1.8%, AUQ +1.6%, PAAS +1.2%, NGD +1%.
- ETFs: GDX, GDXJ, NUGT, DUST, SIL, GLDX, JNUG, SLVP, RING, SILJ, GGGG, JDST, PSAU
Feb. 18, 2014, 6:56 PM
- Hecla Mining (HL) +5.2% AH after reporting record levels of silver and gold reserves at its properties despite using reduced metals prices of $20/oz. silver and $1,300/oz. gold.
- Year-end 2013 proven and probable silver reserves reached the highest level in company history, up 13% Y/Y to 170M oz.; measured and indicated silver resources rose 18% to 149M oz.
- Proven and probable gold reserves increased 190% Y/Y to a company record 2.1M oz., principally due to the acquisition of Aurizon Mines; measured and indicated gold resources rose 3,610% to 4.7M oz.
Aug. 12, 2013, 9:28 AM
- Gold and silver mining stocks are trading higher after the SPDR Gold ETF (GLD +2.1%) logs its first increase in holdings since June: HMY +4%, EGO +3.7%, IAG +3.6%, AUY +3.4%, HL +3%, GDX +2.6%, KGC +2.5%, SLW +2.4%, ABX +2.2%, SLV +2%, GFI +2%, NEM +1.7%.
- December Comex gold +2.2% to $1,341.50/oz.
- ETFs: GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING, SIL, SILJ, SLVP.
Aug. 8, 2013, 3:49 PM
- Hecla Mining (HL +10.8%) expects rising silver and gold production in H2, as output at the Lucky Friday silver mine in Idaho returns to normal and as it continues to ramp up output at the recently acquired Casa Berardi gold mine in Quebec.
- Casa Berardi will generate significant cash flow for many years, but several expenses related to the transaction hit hard in Q2: "We do not consider it a representative quarter from a financial standpoint due all of the one-time items," CEO Phillips Baker said in the earnings call.
- HL received an average silver price of $16.27/oz. in Q2 vs. $27.05 in the year-ago period, but higher output boosted total revenue 27% Y/Y.
Jul. 22, 2013, 10:14 AMMetal miners is the strongest sector in early trading as gold futures climb as high as $1,325/oz.: GDX +4.9%, GDXJ +5.8%, NUGT +15.1%. Newmont Mining (NEM +4.6%) tops all S&P 500 gainers; also RGLD +6%, ABX +5.3%, GG +4.6%, KGC +4.6%, BVN +4.2%, GFI +3.8%. Silver miners (SIL +4.4%): CDE +7%, SLW +5.6%, HL +3.2%. | 5 Comments
Jul. 11, 2013, 10:09 AMThe materials sector is a big early outperformer, showing all-around strength among steelmakers (SLX +3.4%) and gold miners (GDX +5%) after Bernanke indicated the Fed is unlikely to scale back stimulus earlier than expected. GFI +8.4%, ABX +6%, RIO +5.9%, GG +5.2%, SLW +5.1%, BHP +5.1%, MT +5%, HL +4.6%, SLV +4.8%, HL +4.8%, CLF +4.5%, NEM +3.4%, FCX +3.2%, X +2.4%. | 3 Comments
May. 28, 2013, 3:59 PM
May. 3, 2013, 3:08 PMAurizon Mines (AZK -11.8%) CEO George Paspalas says the spill of mine waste at its Casa Berardi gold mine in Quebec doesn’t jeopardize its C$670M takeover by Hecla Mining. The accident is a minor issue, operations at the mine haven’t been interrupted, and "there is no change in the situation." | Comment!
May. 2, 2013, 2:26 PMShares of Aurizon Mines (AZK -9.2%) plunge after authorities in Quebec say a dam broke at its Casa Berardi mine, spilling contaminated materials - ~150K cubic meters of liquid and 15K cubic meters of solids - into James Bay. Trading was halted and has resumed, but Nasdaq is investigating erroneous transactions. | 2 Comments
HL vs. ETF Alternatives
Hecla Mining Co through its subsidiaries produces lead, zinc and bulk concentrates, which it sells to custom smelters, and unrefined bullion bars containing gold and silver, which are further refined before sale to precious metals traders.
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