Hecla Mining’s Board of Directors approved a new share repurchase program on August 28. The authorization allows the company to buy back up to $100 million of its common stock.
The board initiated the program to signal confidence in Hecla’s cash flow generation and balance sheet. This mechanism returns capital to shareholders by reducing the total number of outstanding shares.
The buyback aims to increase earnings per share and support the stock price. News of the authorization was reported over the weekend.