Hecla Mining Co. (HL) shares plummeted in pre-market trading on Tuesday after the precious metals mining company reported weaker-than-expected results for the third quarter of 2024. Hecla reported adjusted earnings of $0.03 per share, missing analyst estimates of $0.05 per share, as revenue growth of 34.7% to $245.1 million also fell short of expectations.
The disappointing Q3 performance sent Hecla's stock down 6.13% in pre-market trading to open at $X.XX per share. The pre-market plunge exacerbated the mining company's already weak stock performance this year, with shares now down X% year-to-date despite a X% rebound over the past quarter heading into earnings.
Analysts had been optimistic heading into the report, with the consensus earnings estimate having been revised 18.5% higher over the past three months. However, the earnings miss adds to concerns over Hecla's ability to ramp up production and capitalize on higher silver and gold prices this year.
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