Silver

Gold

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Hecla Mining Company (NYSE: HL) posted quarterly earnings in the second week of August 2023.&nbsp;</a> </li> 
 <li> <span>2</span> <a>HL stock price is in downtrend and lost up to 30% within the last 30 days.&nbsp;</a> </li> 
</ul> 
<p>Prominent ‘gold and silver-like precious metal’ mining company Hecla Mining Company (NYSE: HL) posted second quarter earnings on August 8th 2023. The company managed to accumulate better earnings per share than the estimated earnings. But the company’s missing the revenue estimates due to several reasons like drop in sales made HL stock suffer as it fell over 10% since then.</p> 
<p>Hecla Mining saw revenue of $178 Million, lower than previous year’s $179 Million. For the quarter, the mining company saw metal sales going lower, the prices of lead and zinc fell, among other reasons. Silver holds a majority part, about 45%, of the revenues with 35% from gold.&nbsp;</p> 
<p>The earnings per share (EPS) for the quarter ended in June 2023 was $0.3. Gross profit rose tremendously from $13.9 Million last year to $29.8 Million for the recent quarter. The gross margin for the mining company was over 21%.&nbsp;</p> 
<p>Gold experienced a 6% year-over-year increase in realized prices, reaching $1,969 per ounce. During the quarter, silver’s realized price was $23.67 per ounce, marking a 14.5% rise from the previous year’s $20.70 per ounce. Lead saw a 2% rise in realized prices whereas zinc’s realized prices dropped by 21.5%.</p> 
<p>For the full year guidance, Hecla Mining forecasted silver production to remain at 16 to 17.5 Million ounces. This is in line with the 2025 goal to hit 20 Million ounces in production. The gold production is expected to reach 140K to 160K ounces by 2023 end.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-hl-stock-price-movement-strong"><strong>HL Stock Price Movement</strong></h2> 
<p>HL stock price is trading at $4.47 following a decrease of 1.7% in the last intraday trading session on Wednesday, August 16th 2023. For last year, the stock price saw ups and downs but broadly it stands at no change from where it was in August 2022.&nbsp;</p> 
<p>Following the earnings release, HL stock price fell over 12% within two weeks. The recent downturn started prior to the earnings call and fell from immediate resistance at $6. However, the stock price saw an uptick and increased over 15% within 2 days, from the immediate support of $5, earlier than the price drop.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/4KMC9Z4giPUlph4AnS2oVIY2oiHK4CIPBV07s9BT8PbjWcPl8JNdt3g3A-OOKWr0KQyvhT5CUZZy6IAPl1VrhsSHxJgydzddVKlTcbOIQqsgABTKP-lfvQjMf_FRtH0ZcL1SAMo05jFWfkOGni7LDA" alt="HL Stock Price Resists to Reverse, Continues to Fall Post-Earnings"> 
  <figcaption class="wp-element-caption">
    Source: Hecla Mining Company (NYSE: HL) Stock Price Movement on <a href="https://www.tradingview.com/x/7KyTqoeB/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>However, the recent fall broke the support and now it is heading towards the next support at $4.2. HL stock price is trading below 50 and 200-day moving averages following death crossover. MACD is trending down and RSI at 38 suggests the downfall in stock price may continue for a while.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

HL Stock Price Resists to Reverse, Continues to Fall Post-Earnings

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Thecoinrepublic.com

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