HECLA MINING COMPANY

(HL)
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Delayed Nyse  -  04:00 2022-08-12 pm EDT
4.620 USD   +2.21%
08/11ALEXCO BRIEF : Reported an adjusted net loss of C$4,269,000 for Q2 2022; Being Bought by Hecla Mining Company
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08/09HECLA MINING : at John Tumazos Very Independent Research, LLC Conference
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08/09TRANSCRIPT : Hecla Mining Company - Special Call
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Hecla Mining Agrees to Acquire Rest of Alexco

07/05/2022 | 05:17am EDT

By Adriano Marchese


Hecla Mining Co. said Tuesday that it has agreed to acquire all shares of Yukon-based Alexco Resource Corp. that it currently doesn't own, and that it will pay Wheaton Precious Metals Corp. $135 million in its own shares for it to terminate its silver streaming interest with Alexco.

The U.S.-based precious-metals mining company said it will issue 18 million of its common shares for each Alexco common share, implying a consideration of 47 cents per Alexco share. Hecla said this represents a premium of 23% based on Alexco's five-day volume weighted average price on the New York Stock Exchange on July 1.

At Friday's closing price of $4.01, the value of the shares would be valued at around $72.2 million.

The transaction is expected to close in September.

Additionally, the company said it has entered into an agreement with Wheaton Precious Metals to terminate its silver streaming interest at Alexco's Keno Hill property in the Yukon in exchange for $135 million of its shares.

"Silver is a critical element to decarbonize the economy and the need for domestic supply is growing. Acquiring Keno Hill allows Hecla to further meet this need with a secure high-grade silver development and exploration project that has a small environmental footprint," Hecla President and Chief Executive Phillips Baker Jr. said.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

07-05-22 0717ET

Stocks mentioned in the article
ChangeLast1st jan.
ALEXCO RESOURCE CORP. 4.55% 0.69 Delayed Quote.-69.06%
HECLA MINING COMPANY 2.21% 4.62 Delayed Quote.-11.49%
PLATINUM -2.76% 934.3 Delayed Quote.-0.94%
S&P GSCI PRECIOUS METALS INDEX -1.45% 2316.18 Real-time Quote.-1.71%
SILVER -2.36% 20.219 Delayed Quote.-10.75%
WHEATON PRECIOUS METALS CORP. 1.26% 43.53 Delayed Quote.-19.80%
All news about HECLA MINING COMPANY
08/11ALEXCO BRIEF : Reported an adjusted net loss of C$4,269,000 for Q2 2022; Being Bought by H..
MT
08/09HECLA MINING : at John Tumazos Very Independent Research, LLC Conference
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08/09TRANSCRIPT : Hecla Mining Company - Special Call
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08/04TRANSCRIPT : Hecla Mining Company, Q2 2022 Earnings Call, Aug 04, 2022
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Analyst Recommendations on HECLA MINING COMPANY
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Financials (USD)
Sales 2022 763 M - -
Net income 2022 -28,6 M - -
Net Debt 2022 299 M - -
P/E ratio 2022 -308x
Yield 2022 0,65%
Capitalization 2 502 M 2 502 M -
EV / Sales 2022 3,67x
EV / Sales 2023 3,48x
Nbr of Employees 1 650
Free-Float 96,9%
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 4,62 $
Average target price 6,31 $
Spread / Average Target 36,6%
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Managers and Directors
Phillips S. Baker President, Chief Financial Officer & Director
Russell Lawlar Chief Financial Officer & Senior Vice President
Catherine J. Boggs Chairman
Lauren M. Roberts Chief Operating Officer & Senior Vice President
Michael L. Clary Chief Administrative Officer & Senior VP
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