What drove HL's earnings growth in 2024?

Hecla Mining Company (HL) experienced a notable increase in net income, rising from a $84.8 million loss in 2023 to a $35.3 million profit in 2024, primarily driven by: 1. **Revenue Growth**: The company's total revenue reached $929.93 million in 2024, up 29% from the previous year. This growth was fueled by higher gold and zinc prices and increased sales volumes, particularly for zinc. 2. **Gold Price Increase**: Gold prices surged, reaching record highs due to geopolitical tensions and economic uncertainty. This favorable market condition, coupled with strong demand from central banks, contributed significantly to Hecla's earnings growth. 3. **Zinc Market Dynamics**: The global zinc market showed signs of recovery, with the price of zinc stabilizing and experiencing gains. This trend, combined with increased use of zinc chemicals in various industries, positively impacted Hecla's zinc-related revenues. 4. **Operational Efficiency**: Hecla's strategic initiatives aimed at enhancing operational efficiency likely improved its profitability margins. The company's focus on maximizing asset value and commitment to ESG leadership also supported its premium valuation and financial stability. In summary, HL's earnings growth in 2024 was driven by a combination of favorable metal prices, increased sales volumes, and improved operational efficiency.