Moody\’s Investors Service downgraded the Corporate Family and Probability of Default Ratings of Hecla Mining Company (NYSE:HL) to B2 and B2-PD from B1 and B1-PD respectively. At the same time the senior unsecured notes rating was downgraded to B3 from B2. The outlook is negative. The company’s Speculative Grade Liquidity rating is unchanged at SGL-2 Hecla Mining Company (NYSE:HL) shares after opening at $3.34 moved to $3.38 on last trade day and at the end of the day closed at $3.12. Company price to sales ratio in past twelve months was calculated as 2.80 and price to cash ratio as 5.04. Hecla Mining Company (NYSE:HL showed a negative weekly performance of -8.50%.
The Allied Nevada Gold Corp. (NYSEMKT:ANV) on Feb. 24 provided financial and operating results for the year ended December 31, 2013. Adjusted net income in 2013 was $17.2 million (or $0.17 per share). Despite selling record gold and silver ounces in 2013, net income of $1.4 million (or $0.01 per share) was negatively impacted by a lower metal price environment, increased production costs, and significant charges for assets classified as held for sale ($11.7 million), mineral property dispositions ($1.4 million), separation and severance costs ($5.9 million), and a write-down of production inventories ($12.6 million). Allied Nevada Gold Corp. (NYSEMKT:ANV) shares fell -6.92% in last trading session and ended the day on $5.11. ANV return on equity ratio is recorded as 1.40% and its return on assets is 0.70%. Allied Nevada Gold Corp. (NYSEMKT:ANV) yearly performance is -70.22%.
Commenting about the strong steps taken by the firm to move the company more towards profits, Quicksilver Resources Inc (NYSE:KWK) Chief Executive Officer, President, Director and Member of Equity Awards Committee Glenn M. Darden has been quoted to have said that, “ For the fourth quarter of ’13, we had an adjusted net loss of $5 million. On the financial front, we lowered net company debt approximately $300 million to the end of the year. We also refinanced $1.1 billion of company bond debt, which reduced interest expense and extended debt maturities by 2.5 years. We have relied on asset sales to lower debt. Quicksilver Resources Inc (NYSE:KWK) shares moved down -8.75% in last trading session and was closed at $2.40, while trading in range of $2.38-$2.66. Quicksilver Resources Inc (NYSE:KWK) year to date performance is -21.82%.
MagneGas Corporation (NASDAQ:MNGA) reported that it has been channelized to supply fuel for four projects which will use the fuel in torch cutting. The fuel is expected to be used in demolition of the Washington D.C. Bridge. The other projects where it will be used include the Ohio-based manufacturing facilities as well as the Michigan outlets. Besides, the fuel will also be used in New York based power plants. MagneGas Corporation (NASDAQ:MNGA) weekly performance is 44.30%. On last trading day company shares ended up $2.15.MagneGas Corporation (NASDAQ:MNGA) distance from 50-day simple moving average is 121.70%. Analysts mean target price for the company is $0.95.