Hecla's Stock Pares Gains After Q2 Revenue Outlook Is Below Expectations

Hecla Mining Co. said Friday that, while it expects its operating mines to perform in line with second-quarter estimates, the silver and gold miner expects revenue of $127 million to $137 million, below the FactSet consensus of $145.8 million. Hecla expects Q2 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $38 million to $48 million, compared with the FactSet consensus of $52.5 million. Net losses for the quarter ending Friday are expected to be $2.0 million to $8.0 million. Separately, the company estimates the Q2 realized price for gold at $1,235 per ounce to $1,265 per ounce, while July gold futures were last up 0.2% at $1,247.90. The company estimates realized silver prices at $16.50 per ounce to $17.30 per ounce, while July futures were up 1.1% at $16.77 per ounce. Hecla's stock resumed trade to be up 1%, compared with the pre-halt gain of 1.5%. It has lost 0.2% year to date, while the VanEck Vectors Gold Miners ETF has gained 7.0% and the S&P 500 has climbed 9.0%.