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Hecla Mining appoints interim CEO as Baker retires

Published 05/24/2024, 05:30 AM
© Reuters.
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COEUR D'ALENE, Idaho - Hecla Mining Company (NYSE:HL) has announced the appointment of Catherine J. Boggs as Interim President and Chief Executive Officer, effective today. Boggs, who will also maintain her role as Chair of the Board, takes over from Phillips S. Baker Jr., who is retiring after nearly 23 years with the company. Concurrently, Charles B. Stanley has been named as Lead Independent Director.

The company's leadership transition is part of a planned succession strategy. Boggs will be supported by a management committee including Russell Lawlar, Carlos Aguilar, and Mike Clary, who hold senior vice president positions in finance, operations, and administration, respectively.

In her career spanning over four decades, Boggs has extensive experience in the mining sector. Her past roles include General Counsel at Resource Capital Funds and various leadership positions at Barrick Gold (NYSE:GOLD) Corporation. She is also a director at Capital Limited and an Adjunct Professor at the University of Denver.

Hecla Mining, established in 1891, is recognized as the largest silver producer in the U.S., with operations across North America and development projects in Canada. The company assures that its mining operations will continue smoothly during the leadership transition.

InvestingPro Insights

As Hecla Mining Company (NYSE:HL) welcomes Catherine J. Boggs as Interim President and CEO, the company's financial health and stock performance remain key areas of focus for investors. According to InvestingPro data, Hecla has a market capitalization of $3.56 billion. Despite a challenging market, the company has experienced a significant return over the last week, with a 1 Week Price Total Return of 8.38%. This momentum is part of a larger trend, as the 3 Month Price Total Return stands at an impressive 65.07%, indicating strong recent performance in the market.

Investors should note that Hecla is trading at a high EBIT valuation multiple, which suggests a premium compared to industry peers. This could be reflective of the company's unique position as the largest silver producer in the U.S. Additionally, the company has shown a commitment to shareholders by maintaining dividend payments for 14 consecutive years, with the most recent dividend yield being 0.42%.

For those looking to delve deeper into Hecla's prospects, InvestingPro provides further insights. There are additional InvestingPro Tips available, including expectations of net income growth this year and insights from analysts who have revised their earnings estimates. Interested readers can find more detailed analysis by visiting InvestingPro. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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