Q3 2020 Hart Charts Press Release

For Immediate Release

October 9, 2020

S&P 500 Index Beats Hart Capital Inland Northwest Index

Hart Capital Management, Inc. has released its Third Quarter 2020 Hart Capital Inland Northwest Index & Composite (the Hart Charts). The Index, which tracks eight of the largest and most influential publicly traded companies in the Inland Northwest in a methodology similar to that of the Standard & Poor’s 500 (S&P 500), increased 3.2% over the last three months, compared to the S&P 500 which grew by 8.5% in the quarter.

This is the first quarter that Kaspien Holdings (KSPN) has been included the Hart Capital Inland Northwest Index. Kaspien Holdings, formerly known as Trans World Entertainment, moved their headquarters to Spokane, WA midway through the Third Quarter of 2020.

For the Hart Capital Inland Northwest Index, six of the eight local companies saw their share price increase over the course of the Third Quarter. Leading the Index in the quarter was Key Tronic (KTCC) with an 85.8% gain, followed by Hecla Mining (HL) which saw a share price appreciation of 55.4%. Itron (ITRI) ended the quarter with a 8.3% loss on their share price, with Avista (AVA) shares declining by 6.2% for the Third Quarter.

Year to Date, Clearwater Paper (CLW) was the standout performer with an 81.1% gain. Itron, Avista, and W.T.B Financial (WTBFB) continued to experience a difficult year with their share prices all down by more than 25% from where they ended in 2019.

Over the trailing twelve months, Hecla Mining saw the largest appreciation in share price out of INW index companies with an impressive 188.6% gain. Hecla Mining has benefitted from higher silver prices and higher production at the Lucky Friday Mine, resulting in a significant influx of cash flow.

The Hart Capital Composite, which measures each component by its total market value, increased by $975.1 million, or 9.1% in the Third Quarter. The growth in the Composite was led by Hecla Mining with a $965.7 million gain. PotlatchDeltic (PCH) grew their market capitalization by $269.1 million. Over the trailing twelve months, the Composite gained $649.1 million, or a gain of 6.0%.

A copy of the most recent Hart Charts can be viewed HERE.

Hart Capital Management, Inc. is an independent, research-focused investment firm that serves the Inland Northwest from its offices in Spokane, Washington and Coeur d’Alene, Idaho. The Hart Capital Composite reflects the value of publicly traded companies in the Inland Northwest. It does not directly reflect the investment positions that Hart Capital Management makes on behalf of its clients.

For detailed information related to Hart Capital Management, Inc. or the Hart Charts, please contact us directly. Our website can be found at www.hartcap.com.

Contact: Craig Hart, (509) 444-7007, [email protected]

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