April 28, 2010 / 12:42 PM / 9 years ago

UPDATE 1-Hecla Mining Q1 profit beats market view

* Q1 adj EPS $0.07 vs est 0.03/shr

* Q1 revenue jumps 46 pct, beats estimates

* Keeps FY silver production view of 10-11 mln ounces

April 28 (Reuters) - Precious metals miner Hecla Mining Co (HL.N) posted a first-quarter profit that beat Wall Street view partly aided by higher prices and lower operating costs per ton.

Hecla also reaffirmed its previous full-year production outlook of 10 to 11 million ounces of silver with cash costs in the range of $1.90-$2.25 per ounce.

Net income for the first quarter was $21.8 million, or 7 cents a share, compared with $7.3 million, or 2 cents a share, a year ago.

The company, which primarily mines processes and explores for silver and gold in the United States and Mexico, saw revenue rise 46 percent to $79.9 million.

Analysts on average expected the company to earn 3 cents a share, on revenue of $81.9 million, according to Thomson Reuters I/B/E/S.

The company said the first-quarter saw average prices for all metals rise from the prior year period, adding unit operating costs for mining and milling dropped 3 percent to $67.54 a ton during the period.

Shares of the Coeur dAlene, Idaho-based company closed at $5.85 Tuesday on the New York Stock Exchange. (Reporting by Antonita Madonna Devotta in Bangalore; Editing by Roshni Menon)

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