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Hecla Mining Co (HL) stock

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NYSE: HL NYSE Silver Next results ~November 3, 2026

Hecla Mining Co is a US-listed company in the silver industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

Hecla Mining Co valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 10 sales by directors and officers, last 12 monthsInsider trades
  • Funds304 adding, 261 cuttingOf 65 active managers that changed their stake, 34 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Hecla Mining files

Where Hecla Mining Co stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.60bn, up 74.4% on a year earlier, faster than 57.3% a quarter earlier. Free-cash-flow margin rose to 30.2% from 13.4% a year earlier. Operating margin widened to 46.0% from 18.1%. The diluted share count is up 6.9% on a year earlier, which dilutes existing holders. It passes 2 of our 3 financial-health checks.

Our model value for Hecla Mining is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Hecla Mining Co's trailing-twelve-month revenue grew 74.4% year on year, with a free-cash-flow margin of 30.2%.

Our discounted-cash-flow model values the business at ~$11 per share in the base case (~$8.2–$14 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 74.4% (+17.1pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 74.4% over the last 12 months.
  • Growth speeding up. The growth rate is 17.1 points higher than a quarter earlier.
  • High operating margin. 46.0% of revenue is left as operating profit.
  • Margins widening. Operating margin is up 27.9 points on a year ago.
  • Strong cash generation. 30.2% of revenue turned into free cash flow.

Things to watch

  • Share dilution. Diluted shares rose 6.9% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 71% and a beta of 2.7 against the S&P 500.
  • Insiders selling. 5 insiders sold $10M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 20.0% over 90 days.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
$0.17 against an average estimate of $0.18: missed by 4.6%
Revenue
$334m, up 52.4% on a year earlier
Share reaction
+14.6% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Guidance given
consolidated silver production 15.1 to 16.1 (2026); greens Creek silver production 8 to 8.3 (2026)
Next report
November 3, 2026; average EPS estimate $0.15

Hecla Mining's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.1%
  • 1 week-3.1%
  • 1 month-21.3%
  • This year-29.4%
  • 1 year+5.3%
  • 5 years+134.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.6B
Operating margin
46.0%
Net margin
20.8%
EPS (TTM, diluted)
$0.49

Growth

Revenue growth
+74.4%
Change in growth rate
+17.1 pts
Share count change
+6.9%

Cash

Free cash flow (TTM)
$484M
FCF margin
30.2%
Stock pay % of revenue
0.7%

Earnings

Last results
August 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Agreement
  3. Announcement
  4. Results
  5. Guidance
  6. Results
  7. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Hecla Mining Co valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Hecla Mining Co as an operating company, with every model that fits that kind of business. Cost of equity 12%: the 10-year Treasury yield (4.9%) plus a beta of 1.57 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1.3 ~$0.8–$1.8 Left out: out of range vs price (0.09x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$0.3 ~$0.2–$0.3 Left out: out of range vs price (0.02x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Hecla Mining Co with Silver in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$1.80$5.02$3.81$2.27$3.29$6.31$5.11$5.47$4.76$4.90$19.18$13.54
Market value$675m$2.0bn$1.5bn$986m$1.6bn$3.3bn$2.8bn$3.0bn$2.9bn$3.0bn$12.6bn$9.1bn
+ Net debt (− = net cash)$348m$335m$322m$513m$460m$377m$306m$413m$547m$516m$22m−$476m
Enterprise value$1.0bn$2.3bn$1.8bn$1.5bn$2.1bn$3.7bn$3.1bn$3.5bn$3.4bn$3.6bn$12.6bn$8.7bn
Multiples
Price / sales 1.5x3.0x2.6x1.7x2.4x4.8x3.4x4.2x4.0x3.3x8.8x5.7x
Price / earnings —31.7x————79.0x——85.1x39.1x27.4x
Price / free cash flow —32.3x84.9x——37.1x24.9x——n/m40.5x18.9x
EV / EBITDA 13.3x9.8x9.8x14.5x13.8x16.7x12.0x26.1x28.8x12.0x18.5x9.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

18 /100

Weak moat

How hard Hecla Mining's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -0.1% of total assets over 10 years.

  • Pricing power 1 / 20

    Gross margin has been a median 24.0%, moving by 13.9 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 7.4%; its worst year was -19.5%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 7 of 10 years, at a median 8.3% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 25.9% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (23 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $340m and EPS of $0.15 (range $0.12 to $0.16) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.71 +51% $1.4bn −0%
Next $0.95 +34% $1.7bn +21%

Next year's EPS estimate has moved −20.0% in 90 days, across 9 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −15.3% on 90 days ago. In the last 30 days, 0 analysts raised Hecla Mining Co's forecast and 3 cut it.

Consensus EPS forecast Hecla Mining Co, last 90 days
$0.60 $0.80 $1.00 $1.20 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.84 Current fiscal year, 60 days ago: $0.82 Current fiscal year, 30 days ago: $0.80 Current fiscal year, 7 days ago: $0.68 Current fiscal year, Now: $0.71 $0.71 Next fiscal year, 90 days ago: $1.19 Next fiscal year, 60 days ago: $1.06 Next fiscal year, 30 days ago: $1.05 Next fiscal year, 7 days ago: $0.95 Next fiscal year, Now: $0.95 $0.95

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.84$1.19
60 days ago $0.82$1.06
30 days ago $0.80$1.05
7 days ago $0.68$0.95
Now $0.71$0.95

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.18 $0.17 −4.6%
Mar 2026 $0.24 $0.24 −0.8%
Dec 2025 $0.18 $0.22 +20.4%
Sept 2025 $0.09 $0.12 +26.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • Consolidated silver production 2026 15.1m to 16.1m Narrowed
    “Consolidated silver production is expected to be 15.1-16.1 million ounces, a lower upper end compared to prior guidance.” source
  • Greens Creek silver production 2026 8m to 8.3m Raised
    “Greens Creek's silver production is expected to be 8.0-8.3 million ounces, raised up from the prior guidance of 7.5-8.1 million ounces.” source
  • Lucky Friday silver production 2026 4.9m to 5.2m Narrowed
    “Lucky Friday's silver production is expected to be 4.9-5.2 million ounces, tightened up from the prior 4.7-5.2 million ounces.” source
  • Keno Hill silver production 2026 2.2m to 2.6m Lowered
    “Keno Hill's silver production is expected to be 2.2-2.6 million ounces, lowered from the prior 2.9-3.2 million ounces.” source
  • Total silver cash cost per ounce (after by-product credits) 2026 -4 to -3.75 Non-GAAP Lowered
    “Total silver cash cost and AISC guidance per silver ounce (after by-product credits) is improved to ($4.00)-($3.75)/oz and $12.50-$13.50/oz respectively.” source
  • Total silver AISC per ounce (after by-product credits) 2026 12.5 to 13.5 Non-GAAP Lowered
    “Total silver cash cost and AISC guidance per silver ounce (after by-product credits) is improved to ($4.00)-($3.75)/oz and $12.50-$13.50/oz respectively.” source
Show 9 more items
  • Greens Creek costs applicable to sales (excludes depreciation) 2026 about $240m Non-GAAP
    “At Greens Creek, guidance for costs applicable to sales (excludes depreciation) at $240 million.” source
  • Greens Creek cash cost per silver ounce (after by-product credits) 2026 -12.5 to -12 Non-GAAP Lowered
    “Cash cost per silver ounce (after by-product credits) and AISC per silver ounce (after by-product credits) guidance is lowered to ($12.50)-($12.00) and ($4.25)-($3.75) respectively from ($9.00)-($8.25) and $0.00-$0.50 respectively.” source
  • Greens Creek AISC per silver ounce (after by-product credits) 2026 -4.25 to -3.75 Non-GAAP Lowered
    “Cash cost per silver ounce (after by-product credits) and AISC per silver ounce (after by-product credits) guidance is lowered to ($12.50)-($12.00) and ($4.25)-($3.75) respectively from ($9.00)-($8.25) and $0.00-$0.50 respectively.” source
  • Lucky Friday costs applicable to sales (excludes depreciation) 2026 about $139m Non-GAAP
    “At Lucky Friday, guidance for costs applicable to sales (excludes depreciation) of $139 million.” source
  • Lucky Friday cash cost per silver ounce (after by-product credits) 2026 9 to 9.75 Non-GAAP Lowered
    “Cash cost guidance is lowered to $9.00-$9.75 from the prior $10.25-$11.00 (after by-product credits), per silver ounce, and the lower end of AISC raised to $24.50-$26.00 from $23.50-$26.00 (after by-product credits), per silver ounce to reflect the higher sustaining capital investment guidance at the mine.” source
  • Lucky Friday AISC per silver ounce (after by-product credits) 2026 24.5 to 26 Non-GAAP Raised
    “Cash cost guidance is lowered to $9.00-$9.75 from the prior $10.25-$11.00 (after by-product credits), per silver ounce, and the lower end of AISC raised to $24.50-$26.00 from $23.50-$26.00 (after by-product credits), per silver ounce to reflect the higher sustaining capital investment guidance at the mine.” source
  • 2026 Total Capital Investment 2026 $208m to $223m Raised
    “Lower end of total capital (growth and sustaining) investment guidance raised, top end reiterated, now at $208-$223 million from $204-$223 million.” source
  • Exploration and pre-development expenditures 2026 about $55m Maintained
    “Exploration and pre-development expenditures remain unchanged and are expected to be $55 million, with the focus at Greens Creek and Keno Hill, Nevada and Lucky Friday.” source
  • Nevada exploration investment 2026 about $16m
    “In Nevada, 2026 exploration investment guidance of $16 million is more than three times the 2025 level with expanded programs at Midas and new programs at Hollister and Aurora.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

10 analysts, Oct 2026
Buy440%
Hold660%
Sell00%

Monthly trend

  1. Oct 202613610
  2. Sep 202613610
  3. Aug 202613610
  4. Jul 20261359

Counts of recommendations published by analysts covering Hecla Mining Co, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0
at average volume
Short interest, 1 month
−100%
to October 15, 2026
Held by institutions
77%
of shares
Held by insiders
0.6%
of shares
Employees
1,865
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +5.3%

$12.86 on October 31, 2025 to $13.54

ThenNowEffect
Revenue (last 12 months) $919m $1.6bn +74.4%
Net margin 10.9% 20.8% +91.0%
P/E multiple 81.0x 27.4x −66.2%
Share count 632m 675m −6.4%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
HL−19%+7%−13%+3%+292%−29%
Industry peers (median)——————
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
HL33%50%42%42%75%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
HL−49%−52%−48%−35%−29%−57%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 82% from November 9, 2016 to May 28, 2019. Getting back needed a 469% gain, reached on February 1, 2021, 615 days after the low.

Price behaviour

52-week range
$11.96 – $31.79
From 52-week high
−57.4%
vs 50-day average
−22.9%
vs 200-day average
−27.2%
Volatility (1 year)
71%
Beta vs S&P 500
2.70

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±10.4%
After a week
8 up, 4 down
typical move ±16.9%
After a month
5 up, 7 down
typical move ±18.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +14.6% +1.6% +23.1% +44.0%
May 5, 2026 +3.2% +2.2% +17.0% −4.2%
February 17, 2026 −2.6% +0.7% +4.6% −18.1%
January 26, 2026 −11.0% +0.9% −32.3% −26.7%
November 5, 2025 +13.2% −0.7% +29.7% +41.8%
August 6, 2025 +17.6% +0.7% +26.5% +47.0%
May 1, 2025 −20.6% +2.2% −14.0% −1.5%
February 13, 2025 −13.5% +1.1% −17.0% −6.4%
November 7, 2024 −7.6% +1.2% −9.7% −5.1%
August 7, 2024 +3.3% +1.6% +7.8% +12.6%
July 11, 2024 +9.1% −0.2% +8.9% −8.7%
May 9, 2024 +9.0% +0.7% +11.8% +9.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Hecla Mining Co
$500M $1B $1.5B $2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $754.4M Revenue (TTM), FY23 Q4: $720.2M Revenue (TTM), FY24 Q1: $710.3M Revenue (TTM), FY24 Q2: $777.8M Revenue (TTM), FY24 Q3: $841M Revenue (TTM), FY24 Q4: $929.9M Revenue (TTM), FY25 Q1: $945.7M Revenue (TTM), FY25 Q2: $919.1M Revenue (TTM), FY25 Q3: $1.1B Revenue (TTM), FY25 Q4: $1.3B Revenue (TTM), FY26 Q1: $1.5B Revenue (TTM), FY26 Q2: $1.6B $1.6B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $754.4M
FY23 Q4 $720.2M
FY24 Q1 $710.3M
FY24 Q2 $777.8M
FY24 Q3 $841M
FY24 Q4 $929.9M
FY25 Q1 $945.7M
FY25 Q2 $919.1M
FY25 Q3 $1.1B
FY25 Q4 $1.3B
FY26 Q1 $1.5B
FY26 Q2 $1.6B
Revenue growth, TTM YoY Hecla Mining Co
-20% 0% 20% 40% 60% 80% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 6.4% Revenue growth, TTM YoY, FY23 Q4: 0.2% Revenue growth, TTM YoY, FY24 Q1: -3.0% Revenue growth, TTM YoY, FY24 Q2: 8.2% Revenue growth, TTM YoY, FY24 Q3: 11.5% Revenue growth, TTM YoY, FY24 Q4: 29.1% Revenue growth, TTM YoY, FY25 Q1: 33.2% Revenue growth, TTM YoY, FY25 Q2: 18.2% Revenue growth, TTM YoY, FY25 Q3: 28.8% Revenue growth, TTM YoY, FY25 Q4: 37.9% Revenue growth, TTM YoY, FY26 Q1: 57.3% Revenue growth, TTM YoY, FY26 Q2: 74.4% 74.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 6.4%
FY23 Q4 0.2%
FY24 Q1 -3.0%
FY24 Q2 8.2%
FY24 Q3 11.5%
FY24 Q4 29.1%
FY25 Q1 33.2%
FY25 Q2 18.2%
FY25 Q3 28.8%
FY25 Q4 37.9%
FY26 Q1 57.3%
FY26 Q2 74.4%
Operating margin (TTM) Hecla Mining Co
-20% 0% 20% 40% 60% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -1.6% Operating margin (TTM), FY23 Q4: -6.2% Operating margin (TTM), FY24 Q1: -6.4% Operating margin (TTM), FY24 Q2: -1.2% Operating margin (TTM), FY24 Q3: 3.1% Operating margin (TTM), FY24 Q4: 11.4% Operating margin (TTM), FY25 Q1: 15.7% Operating margin (TTM), FY25 Q2: 18.1% Operating margin (TTM), FY25 Q3: 27.0% Operating margin (TTM), FY25 Q4: 37.0% Operating margin (TTM), FY26 Q1: 43.7% Operating margin (TTM), FY26 Q2: 46.0% 46.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -1.6%
FY23 Q4 -6.2%
FY24 Q1 -6.4%
FY24 Q2 -1.2%
FY24 Q3 3.1%
FY24 Q4 11.4%
FY25 Q1 15.7%
FY25 Q2 18.1%
FY25 Q3 27.0%
FY25 Q4 37.0%
FY26 Q1 43.7%
FY26 Q2 46.0%
FCF margin (TTM) Hecla Mining Co
-40% -20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -14.1% FCF margin (TTM), FY23 Q4: -20.6% FCF margin (TTM), FY24 Q1: -23.2% FCF margin (TTM), FY24 Q2: -14.0% FCF margin (TTM), FY24 Q3: -7.7% FCF margin (TTM), FY24 Q4: 0.4% FCF margin (TTM), FY25 Q1: 3.4% FCF margin (TTM), FY25 Q2: 13.4% FCF margin (TTM), FY25 Q3: 16.8% FCF margin (TTM), FY25 Q4: 24.2% FCF margin (TTM), FY26 Q1: 31.4% FCF margin (TTM), FY26 Q2: 30.2% 30.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -14.1%
FY23 Q4 -20.6%
FY24 Q1 -23.2%
FY24 Q2 -14.0%
FY24 Q3 -7.7%
FY24 Q4 0.4%
FY25 Q1 3.4%
FY25 Q2 13.4%
FY25 Q3 16.8%
FY25 Q4 24.2%
FY26 Q1 31.4%
FY26 Q2 30.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Hecla Mining took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.4B
  2. Cost of revenue $801M · 56.3%
  3. Gross profit $622M · 43.7%
  4. Selling, general and admin $57.6M · 4.0%
  5. Other operating costs $49.8M · 3.5%
  6. Operating income $515M · 36.2%
  7. Income tax $157M · 11.1%
  8. Interest and other $35.6M · 2.5%
  9. Net income $322M · 22.6%

Shares of revenue. Source: Hecla Mining's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 478 321 383 501 444 646 578 567 673 692 807 719 720 930 1,423 1,603
Gross profit 265 144 66 85 39 184 152 75 34 161 218 116 113 198 622 862
EBITDA 245 88 50 134 77 234 187 104 150 222 256 133 119 297 680 912
Operating income 198 38 −32 22 −36 109 60 −35 −47 67 83 −12 −45 106 515 737
Net income 151 15 −25 18 −87 62 −29 −27 −95 −9 35 −37 −84 36 322 334
Diluted EPS $0.51 $0.05 −$0.08 $0.05 −$0.23 $0.16 −$0.07 −$0.06 −$0.19 −$0.02 $0.06 −$0.07 −$0.14 $0.06 $0.49 $0.49
Growth (year on year)
Revenue — −32.8% +19.1% +30.9% −11.4% +45.6% −10.6% −1.8% +18.7% +2.8% +16.7% −11.0% +0.2% +29.1% +53.0% +74.4%
EBITDA — −64.1% −43.2% +167.8% −42.5% +204.5% −20.4% −44.5% +44.5% +48.3% +15.4% −48.2% −10.3% +149.4% +129.3% +190.4%
Operating income — −80.8% −185.5% — −264.7% — −45.1% −158.3% — — +24.5% −114.9% — — +384.4% +344.3%
Net income — −90.1% −268.0% — −587.9% — −146.3% — — — — −206.4% — — +798.6% +233.1%
Diluted EPS — −90.2% −260.0% — −560.0% — −143.8% — — — — −216.7% — — +716.7% +211.7%
Margins
Gross margin 55.5% 44.7% 17.3% 17.0% 8.7% 28.5% 26.4% 13.2% 5.0% 23.3% 27.0% 16.2% 15.7% 21.3% 43.7% 53.8%
EBITDA margin 51.3% 27.4% 13.1% 26.7% 17.4% 36.3% 32.3% 18.3% 22.2% 32.1% 31.7% 18.5% 16.5% 31.9% 47.8% 56.9%
Operating margin 41.4% 11.8% −8.5% 4.3% −8.0% 16.9% 10.4% −6.2% −6.9% 9.7% 10.3% −1.7% −6.2% 11.4% 36.2% 46.0%
Net margin 31.6% 4.7% −6.6% 3.6% −19.6% 9.5% −4.9% −4.7% −14.1% −1.4% 4.3% −5.2% −11.7% 3.9% 22.6% 20.8%
Free-cash-flow margin −3.7% −13.7% −32.4% −7.9% −7.0% 9.4% 3.1% −7.5% −0.1% 13.0% 13.8% −8.3% −20.6% 0.4% 21.8% 30.2%
Cash flow
Cash from operations 70 69 27 83 106 225 116 94 121 181 220 90 75 218 563 734
Capital spending 88 113 151 123 137 165 98 137 121 91 109 149 224 214 252 250
Free cash flow −18 −44 −124 −39 −31 61 18 −43 −1 90 111 −59 −148 4 310 484
Stock-based pay 2 3 4 5 5 6 6 6 6 6 6 6 7 9 11 11
Free cash flow after stock pay −20 −47 −129 −44 −36 54 12 −49 −6 83 105 −66 −155 −5 299 473
Balance sheet
Cash 266 191 212 210 155 172 186 27 62 130 210 105 106 27 242 483
Total debt — 12 491 498 503 507 508 541 523 507 516 518 653 543 263 8
Net debt (negative = net cash) −266 −179 279 289 348 335 322 513 460 377 306 413 547 516 22 −476
Diluted shares 297m 298m 319m 357m 374m 389m 397m 433m 490m 527m 542m 557m 606m 623m 656m 675m
Returned to shareholders
Dividends 6 17 6 4 4 4 5 5 5 9 21 13 16 25 10 11
Buybacks 0 2 0 4 2 4 3 3 2 3 5 4 2 1 1 5
Total returned 6 19 6 8 6 9 7 8 8 12 25 17 18 27 11 15

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

6 of 7 checks passed · June 30, 2026
What it owns · $3.2bn
Short-term assets $772mLonger-term assets $2.4bn
What it owes, and who funded it · $3.2bn
Short-term liabilities $149mLonger-term liabilities $359mShareholders' equity $2.7bn
  • Short-term assets cover short-term liabilities $772m of assets due within a year against $149m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $772m short-term assets against $359m of longer-dated liabilities.
  • More cash than debt $483m of cash against $8m of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 29% to 0% over five years.
  • A year's operating cash flow covers at least 20% of debt $734m of operating cash flow against $8m of debt.
  • Operating profit covers interest at least five times over Operating income of $737m against −$56m of interest.

From Hecla Mining Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$4.5M
Dividends (TTM)
$10.7M
Returned to shareholders
3%
of free cash flow
Buybacks, last 3 fiscal years
$4.1M
Diluted share count
+6.9%
year over year
Total shareholder yield
0.2%
dividends 0.1% + buybacks 0.1% of market value
Dividend payout ratio
3%
of net income paid out
Days sales outstanding
29 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in silver
Last 12 months unless stated HL AG EXK Median
Revenue, last 12 months $1.6bn $1.3bn $468m $1.3bn
Revenue growth, last 12 months 74.4% 124.3% 114.8% 114.8%
Gross margin 53.8% 56.8% 17.7% 53.8%
Operating margin 46.0% 31.6% 7.6% 31.6%
Operating margin, 3-year average 21.0% 4.0% 8.7% 8.7%
Net margin 20.8% 13.1% −25.5% 13.1%
Cash from operations / revenue 45.8% 41.8% 14.4% 41.8%
Free-cash-flow margin 30.2% 36.9% −21.8% 30.2%
Free-cash-flow margin, 3-year average 9.9% 19.5% −18.8% 9.9%
Stock pay / revenue 0.7% 1.0% 0.8% 0.8%
Change in share count 6.9% 64.0% 16.9% 16.9%

Median of all 3 companies we cover in silver. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Reconciliation of Sales $1.4B ▲ 53.1%
Metal Sales $1.4B ▲ 52.2%
Total Metal $1.4B ▲ 52.2%
Silver Contracts $689M ▲ 66.5%
Gold $484M ▲ 52.1%
Zinc $132M ▲ 0.9%
Lead $91.3M ▲ 4.6%
Environmental Remediation Services $39.1M ▲ 90.3%
Intersegment Sales $6.1M ▲ 59.7%
Copper $3.2M ▲ 667.8%
Elimination of Intersegment Sales -$6.1M —

These categories overlap or exclude eliminations, so shares aren't shown.

From Hecla Mining Co's 10-K filed February 17, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$7.5B
Institutions reporting
584
Shares held vs prior quarter
▲ 0.7%
Positions opened / closed
93 / 75

Top buyers and sellers, Q2 2026: 304 institutions bought and 261 sold ; the biggest buyer was Invesco Ltd (+7.4M shares) and the biggest seller Blackrock, Inc (−19.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.1B 70.4M 14.5% ▼ 22.0%
Van Eck Associates Corp $589M 38.2M 7.9% ▲ 15.3%
State Street Corp $522M 33.8M 7.0% ▲ 1.3%
Vanguard Capital Management LLC $466M 30.2M 6.2% ▲ 4.5%
Vanguard Portfolio Management LLC $462M 29.9M 6.2% ▼ 5.4%
Tidal Investments LLC $334M 21.6M 4.5% ▲ 10.0%
Invesco Ltd. $312M 20.2M 4.2% ▲ 57.9%
Mirae Asset Global Etfs Holdings Ltd. $304M 19.7M 4.1% ▼ 4.6%
Geode Capital Management, LLC $222M 14.4M 3.0% ▼ 23.3%
Dimensional Fund Advisors LP $198M 12.8M 2.6% ▲ 1.7%
Two Sigma Investments, LP $154M 10.0M 2.1% ▲ 126.1%
Renaissance Technologies LLC $150M 9.7M 2.0% ▲ 149.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Hecla Mining Co's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $10.2M 10 trades by 5 insiders · 0% under pre-set plans
Net ▼ $10.2M net selling
Insider Date Trade Shares Price Value
Malone Patrick Shay VP - Sustainability August 20, 2026 Sell 23,894 $20.76 $496,039
Malone Patrick Shay VP - Sustainability August 20, 2026 Sell 100 $20.97 $2,097
Malone Patrick Shay VP - Sustainability August 20, 2026 Sell 100 $20.97 $2,097
Malone Patrick Shay VP - Sustainability August 20, 2026 Sell 23,894 $20.76 $496,039
Allen Kurt VP-Exploration January 6, 2026 Sell 42,659 $21.89 $933,806
Allen Kurt VP-Exploration January 6, 2026 Sell 9,560 $22.00 $210,320
Clary Michael L. Sr. VP & CAO December 19, 2025 Sell 75,000 $20.30 $1.5M
Sienko David C Sr. VP, GC & Secretary December 17, 2025 Sell 207,553 $19.42 $4M
Lawlar Russell Douglas Sr. VP & CFO November 10, 2025 Sell 18,535 $15.02 $278,396
Lawlar Russell Douglas Sr. VP & CFO November 10, 2025 Sell 148,372 $15.00 $2.2M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

No trades in Hecla Mining Co disclosed in the last 12 months; 3 earlier trades on record.

  • Debbie Wasserman Schultz(D-FL 25):Purchase, $1,001 - $15,000, traded August 9, 2024, filed September 5, 2024
  • Donna Shalala(FL):Sale (full), $1,001 - $15,000, traded June 24, 2019, filed April 27, 2020
  • Donna Shalala(FL):Purchase, $1,001 - $15,000, traded January 9, 2019, filed April 27, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 29, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 5, 2026
  • February 17, 2026
  • January 26, 2026
  • November 5, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on Hecla Mining Co was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Hecla Mining Co in brief

What does Hecla Mining Co do?
Hecla Mining Co is a US-listed company in the silver industry. Its financial year ends in December.
What is Hecla Mining Co's stock ticker?
Hecla Mining Co trades under the ticker HL on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Hecla Mining Co's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Hecla Mining Co reported revenue of $1.6B, 74.4% higher than a year earlier, according to its SEC filings.
What is Hecla Mining Co's free cash flow?
Hecla Mining Co's free-cash-flow margin is 30.2% of revenue over the trailing twelve months.
Who are Hecla Mining Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Van Eck Associates Corp and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Hecla Mining Co buying back stock, and does it pay a dividend?
Hecla Mining Co spent $4.5M on share repurchases over the trailing twelve months, and its diluted share count still rose 6.9% over the year.
What is Hecla Mining Co's market cap?
On November 2, 2026, Hecla Mining Co's market capitalisation was about $9.1B, with a price-to-earnings ratio of 27.4 and net debt of -$476M. Market figures come from third-party market data and may be delayed.
Does Hecla Mining Co pay a dividend?
Yes: Hecla Mining Co paid $10.7M in dividends over the trailing twelve months, a dividend yield of 0.12% and a payout ratio of 3.2%.
How much debt does Hecla Mining Co have?
Hecla Mining Co's debt-to-equity ratio is 0.3%, from its latest balance sheet (29.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are Hecla Mining Co's competitors?
In our Silver peer group, the companies closest to Hecla Mining Co are First Majestic Silver Corp and Endeavour Silver Corp. The side-by-side comparison below sets their revenue, margins and growth against Hecla Mining Co's.
Are insiders buying or selling Hecla Mining Co stock?
Over the last 12 months, Hecla Mining Co's directors and officers reported 0 open-market purchases and 10 sales on Form 4. The insider trading page charts every trade.
When is Hecla Mining Co's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Hecla Mining Co announces its own schedule.