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HL

Hecla Mining Company

HL

Hecla Mining Company • NYSE
$16.82 ▲ 5.32% (+0.85)
Market Cap $11.27 B
52w High $16.96
52w Low $4.46
Dividend Yield 0.01%
P/E 54.26
Volume 14.12M
Outstanding Shares 670.10M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $409.542M ▲ $31.822M ▲ $210.48M ▲ 51.394% ▲ $0.15 ▲ $217.632M ▲
Q2-2025 $304.027M ▲ $25.768M ▲ $57.705M ▲ 18.98% ▲ $0.09 ▲ $139.279M ▲
Q1-2025 $261.339M ▲ $21.649M ▼ $28.872M ▲ 11.048% ▲ $0.05 ▲ $95.74M ▲
Q4-2024 $249.655M ▲ $30.197M ▼ $11.924M ▲ 4.776% ▲ $-0.075 ▼ $74.983M ▲
Q3-2024 $245.085M $36.811M $1.761M 0.719% $0.04 $68.23M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $133.91M ▼ $3.222B ▼ $772.198M ▼ $2.45B ▲
Q2-2025 $296.565M ▲ $3.309B ▲ $999.322M ▲ $2.31B ▲
Q1-2025 $23.668M ▼ $3.024B ▲ $949.59M ▲ $2.074B ▲
Q4-2024 $26.868M ▲ $2.981B ▲ $941.546M ▲ $2.04B ▲
Q3-2024 $22.273M $2.956B $917.429M $2.038B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $100.726M ▲ $148.049M ▼ $-57.319M ▼ $-253.228M ▼ $-162.666M ▼ $90.144M ▼
Q2-2025 $57.705M ▲ $161.796M ▲ $-54.274M ▼ $164.802M ▲ $272.903M ▲ $161.796M ▲
Q1-2025 $28.872M ▲ $35.738M ▼ $-54.04M ▲ $15.202M ▲ $-3.2M ▼ $-18.357M ▼
Q4-2024 $11.924M ▲ $67.47M ▲ $-60.563M ▼ $-1.463M ▲ $4.588M ▲ $6.686M ▲
Q3-2024 $1.761M $55.009M $-55.5M $-2.768M $-2.299M $-690K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Copper
Copper
 $0 ▲$0 ▲$0 ▲$0 ▲
Gold
Gold
 $170.00M ▲$90.00M ▼$120.00M ▲$140.00M ▲
Lead
Lead
 $50.00M ▲$20.00M ▼$20.00M ▲$20.00M ▲
Silver Contracts
Silver Contracts
 $220.00M ▲$120.00M ▼$120.00M ▲$190.00M ▲
Zinc
Zinc
 $70.00M ▲$30.00M ▼$30.00M ▲$40.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Hecla’s earnings picture shows a business that is very sensitive to metal prices but has recently improved its profitability. Sales have grown compared with a few years ago, and 2024 shows much better operating performance than the two prior years, when the company slipped into losses. Margins, while not huge, have recovered from those weak years as cost control and better production have kicked in. Still, the pattern over five years is stop‑and‑go: profitable in some years, modest losses in others. This volatility is typical for a mining company and highlights that results can swing quickly when prices or operating conditions change.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid for a cyclical miner. Total assets and shareholders’ equity have trended upward over time, suggesting steady reinvestment and accumulation of value in the asset base. Debt levels are meaningful but not overwhelming relative to equity, indicating a moderate use of borrowing rather than an aggressive one. The main softer spot is cash, which has come down from prior years, leaving the company less cushioned in the near term and more reliant on ongoing cash generation and credit lines to fund spending and ride out downturns.

Cash Flow

Cash Flow Hecla consistently generates cash from its operations, which is a key strength. However, it also spends heavily on new equipment, mine development, and expansion projects, so free cash flow has been tight and at times negative. Recent years show that when investment spending is high, it can absorb nearly all of the operating cash coming in. This pattern fits a company in a capital‑intensive, long‑life asset business: cash flows are lumpy, and management is prioritizing future production capacity and mine life over short‑term surplus cash. The trade‑off is less financial flexibility during weaker periods.

Competitive Edge

Competitive Edge Hecla holds a strong niche as a leading primary silver producer in the U.S. and Canada, with long‑life, high‑grade underground mines in politically stable regions. These assets are difficult and expensive for competitors to replicate. Its deep experience with complex underground mining, especially at operations like Lucky Friday and Greens Creek, gives it a technical and operational edge. The focus on safety, community relationships, and environmental practices also supports its social license to operate. On the risk side, the business is concentrated in a relatively small number of mines and is heavily exposed to silver price cycles, which can amplify both good and bad years.

Innovation and R&D

Innovation and R&D For a mining company, Hecla is relatively advanced in how it applies technology. Its patented mining method at Lucky Friday, broader use of automation and remote‑controlled equipment, and strong underground connectivity all aim to make mines safer and more productive. The company also relies heavily on modern geological modeling and data analytics to extend mine life and discover new resources around existing operations. Ongoing work at projects like Keno Hill and Midas shows a willingness to use existing infrastructure creatively rather than always starting from scratch. While there is no classic “R&D lab,” the company’s continuous improvement in mining methods and exploration techniques functions much like R&D in other industries.

Summary

Overall, Hecla combines a set of specialized, long‑life silver assets in safe jurisdictions with a clear focus on operational innovation and safety. Financially, it has moved back toward profitability after a couple of weak years, supported by better operating performance, but its earnings and cash flows remain inherently cyclical and exposed to metal prices. The balance sheet appears reasonably balanced, with manageable debt but a thinner cash buffer due to ongoing heavy investment. The company’s competitive position rests on technical expertise, high‑grade underground mines, and strong ESG credentials, while the main uncertainties relate to commodity price swings, mine‑specific operational risks, and the payback on its continued capital and technology investments.

NEWS

November 24, 2025 · 8:00 AM UTC

Hecla Reports High-Grade Gold Discovery at Midas with Visible Gold Intercepts; Expands Mineralization at Keno Hill and Greens Creek

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November 18, 2025 · 4:30 PM UTC

Elsa Reclamation and Development Corporation Receives 2025 Robert E. Leckie Award

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November 5, 2025 · 4:42 PM UTC

Hecla Reports Third Quarter 2025 Results

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October 23, 2025 · 4:30 PM UTC

Hecla Announces Third Quarter 2025 Earnings Call

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October 6, 2025 · 5:43 PM UTC

Hecla Mining Company Announces U.S. Forest Service Advancement of Libby Exploration Project in Montana

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