COEUR D'ALENE - Hecla Mining Company (NYSE:HL), a leading silver producer in the United States, announced today the appointment of Jill Satre to its Board of Directors. With her appointment effective immediately, Satre brings her extensive experience in the fields of compliance, risk management, and internal auditing to the table.
Satre is currently serving as the Vice President of Internal Audit & Corporate Compliance at TC Energy (NYSE:TRP), where she plays a critical role in overseeing the company's compliance, risk management strategies, and internal financial controls. Her previous experience spans over two decades at PwC, where she focused on the resource extraction industries, including mining and energy.
Cassie Boggs, Interim CEO of Hecla Mining Company, expressed confidence in Satre's abilities, noting her "deep understanding of financial controls, audit processes, and enterprise risk management," which is expected to contribute significantly to Hecla's growth strategy and industry leadership.
Satre's academic qualifications include a Chartered Professional Accountant (CPA) designation in Alberta and a Bachelor of Business Administration from the University of Regina. Her expertise in corporate governance is anticipated to be a valuable asset to Hecla's Board.
Hecla Mining, established in 1891, not only operates mines in Alaska, Idaho, and Quebec but is also developing a new mine in the Yukon, Canada. The company holds a portfolio of exploration and pre-development projects across North America.
The addition of Satre to Hecla's Board is part of the company's ongoing efforts to strengthen its governance and oversight capabilities as it continues to expand its operations. This information is based on a press release statement from Hecla Mining Company.
In other recent news, Hecla Mining has been making significant strides in its operations. The company has reported record revenues and high silver production, marking the second-highest in its history. Analyst firms Roth/MKM and B.Riley have both raised their price targets for Hecla Mining, maintaining a Buy rating, due to updated precious metals price forecasts and the company's strong second-quarter performance.
Hecla Mining's key operations, including the Greens Creek, Lucky Friday, Casa Berardi, and Keno Hill mines, have shown strong performance. The company is also in the process of finding a new CEO, emphasizing the maximization of the value of North American assets.
Roth/MKM and B.Riley's analysts predict a positive outlook for Hecla Mining, expecting the company to reach the upper range of its 2024 guidance due to higher production volumes. The firms have revised their projections for Hecla's third-quarter and full-year 2024 adjusted EBITDA, increasing estimates significantly.
Despite challenges associated with cost investments at Keno Hill and suspension costs related to Nevada and Mexico, Hecla Mining remains committed to its strategic focus on generating free cash flow, investing in operations, and reducing debt. These are recent developments that have caught the attention of investors and stakeholders alike.
InvestingPro Insights
As Hecla Mining Company (NYSE:HL) welcomes Jill Satre to its Board of Directors, investors may find additional context from InvestingPro's data and tips particularly relevant.
InvestingPro data shows that Hecla's market capitalization stands at $4.22 billion, reflecting its significant presence in the silver mining industry. The company's revenue for the last twelve months as of Q2 2024 was $777.78 million, with a notable revenue growth of 37.91% in the most recent quarter. This growth trajectory aligns well with the company's expansion efforts and the strategic appointment of Satre to strengthen its governance.
An InvestingPro Tip highlights that Hecla has maintained dividend payments for 14 consecutive years, demonstrating a commitment to shareholder returns even as it invests in growth. This consistent dividend policy could be seen as a sign of financial stability, which may be further bolstered by Satre's expertise in financial controls and risk management.
Another relevant InvestingPro Tip indicates that analysts predict the company will be profitable this year. This forecast, combined with Satre's background in audit processes and enterprise risk management, suggests that Hecla is positioning itself for improved financial performance and governance.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips that could provide deeper insights into Hecla Mining's financial health and market position.
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