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Hecla Mining Company (HL)
NYSE:HL
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Hecla Mining Company
(NYSE:HL)
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Rating:74Outperform
Price Target:
$19.00
▼(-6.40% Downside)
Hecla Mining Company receives a strong overall score driven by robust financial performance, positive technical indicators, and strategic achievements highlighted in the earnings call. The high dividend yield and recent corporate events further bolster the stock's attractiveness. However, the high P/E ratio and challenges in operational efficiency and free cash flow generation slightly temper the overall score.
Positive Factors
Revenue Growth
Strong revenue growth indicates robust demand for Hecla's products and effective market penetration, supporting long-term business expansion.
Debt Reduction
Significant debt reduction enhances financial flexibility and reduces interest expenses, allowing more resources for growth initiatives.
Index Inclusion
Inclusion in the S&P MidCap 400 Index can increase visibility and attract institutional investors, potentially leading to improved stock liquidity and stability.
Negative Factors
Inflationary Pressures
Rising labor costs due to inflation can squeeze margins and impact profitability, challenging Hecla's cost management strategies.
Free Cash Flow Challenges
Negative free cash flow growth indicates potential issues in converting earnings to cash, which can limit reinvestment and dividend capacity.
Keno Hill Production Delays
Delays in achieving commercial production at Keno Hill can postpone revenue generation and return on investment, impacting long-term growth plans.
Hecla Mining Company (HL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.77B
Dividend Yield0.07%
Average Volume (3M)21.34M
Price to Earnings (P/E)66.9
Beta (1Y)1.36
Revenue Growth45.61%
EPS GrowthN/A
CountryUS
Employees1,830
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.12
Shares Outstanding670,098,700
10 Day Avg. Volume32,144,141
30 Day Avg. Volume21,341,885
Financial Highlights & Ratios
PEG Ratio-0.61
Price to Book (P/B)1.49
Price to Sales (P/S)3.28
P/FCF Ratio805.38
Enterprise Value/Market Cap0.60
Enterprise Value/Revenue6.77
Enterprise Value/Gross Profit18.73
Enterprise Value/Ebitda15.70
Forecast
1Y Price Target
$15.42Price Target Upside-24.04% Downside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)0.38
Revenue Forecast (FY)$1.33B
Hecla Mining Company Business Overview & Revenue Model
Company DescriptionHecla Mining Company (HL) is a leading precious metals mining company headquartered in Coeur d'Alene, Idaho. Founded in 1891, Hecla primarily focuses on the exploration, development, and production of silver and gold. The company operates several mines in the United States and Canada, including the Greens Creek mine in Alaska and the Lucky Friday mine in Idaho, and is known for its commitment to sustainable mining practices and environmental stewardship.
How the Company Makes MoneyHecla Mining Company generates revenue primarily through the sale of precious metals, specifically silver and gold. The company mines these metals from its operating mines and sells them in the global commodities market. The revenue model is heavily influenced by the prices of silver and gold, which can be volatile and are influenced by market demand, economic conditions, and geopolitical factors. Key revenue streams include the extraction and sale of ore, as well as potential royalties from mineral rights and partnerships with other mining entities. Additionally, Hecla benefits from cost management strategies and operational efficiencies that enhance profitability. The company may also engage in strategic partnerships or joint ventures to expand its resources and production capabilities, further contributing to its earnings.
Hecla Mining Company Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 18, 2026
Earnings Call Sentiment Positive
The earnings call highlighted Hecla Mining Company's strong financial and operational performance, marked by record revenues, significant debt reduction, and positive cash flow from all assets. However, challenges such as inflationary pressures on costs and delays in achieving commercial production at Keno Hill were noted.Q3-2025 Updates
Positive Updates
Record-Breaking Financial Performance
Hecla Mining Company reported record quarterly revenue of $410 million, net income of $101 million, and adjusted EBITDA of $196 million, demonstrating strong financial performance and effective business model execution.
Significant Reduction in Net Leverage
Net leverage improved significantly from 1.8x to 0.3x in a single year, marking an 83% reduction, primarily due to debt repayment and strong cash flow generation, enhancing the company's financial flexibility.
Positive Free Cash Flow Across All Assets
All four producing assets, Greens Creek, Lucky Friday, Casa Berardi, and Keno Hill, generated positive free cash flow for the second consecutive quarter, totaling $90 million.
Impressive Silver Production and Cost Management
Silver production increased to 4.6 million ounces, with cash costs at negative $2.03 per ounce and all-in sustaining costs at $11.01, indicating strong operational efficiency.
Strong Performance at Greens Creek
Greens Creek led free cash flow generation with nearly $75 million, owing to strong operational performance and cost management, reaffirming its status as a premier silver mine.
Negative Updates
Inflationary Pressures on Labor Costs
The company faces inflationary pressures, particularly in labor costs, due to competition for skilled workers and reliance on contractors, impacting overall cost management.
Challenges in Achieving Commercial Production at Keno Hill
While Keno Hill has shown positive cash flow for two consecutive quarters, it is not expected to achieve commercial production until 2027, highlighting ongoing ramp-up challenges.
Potential Cost Overruns at Keno Hill
Capital expenditures at Keno Hill are expected to modestly exceed original guidance due to higher-than-planned underground development activities.
Company Guidance
During the Q3 2025 earnings call, Hecla Mining Company provided robust guidance, highlighting record financial performance and strategic advancements. The company reported revenue of $410 million and net income of $101 million, with adjusted EBITDA reaching $196 million. Hecla significantly improved its net leverage from 1.8x to 0.3x year-over-year, marking an 83% reduction. This was achieved through the full repayment of their revolver, redemption of $212 million in debt, and repayment of a CAD 50 million note, leading to an annual interest expense reduction of over $15 million. Operating cash flow stood at $148 million, while consolidated free cash flow was $90 million. All four producing assets, including Greens Creek and Lucky Friday, generated positive free cash flow for the second consecutive quarter. The company maintained operational momentum with silver production at 4.6 million ounces and cash costs at negative $2.03 per ounce, while all-in sustaining costs were $11.01 per ounce. Hecla reiterated its cost guidance and tightened production guidance, with strategic projects like the Lucky Friday surface cooling project and Greens Creek's dry stack tailings expansion on track. Moving forward, Hecla plans to focus on long-term value creation, further deleveraging, establishing a disciplined capital allocation framework, and potential portfolio rationalization.Hecla Mining Company Financial Statement Overview
Summary
Hecla Mining Company demonstrates strong revenue growth and improved profitability, supported by a solid balance sheet with low leverage. However, challenges in operational efficiency and free cash flow generation need to be addressed. Overall, the company is on a positive trajectory with opportunities for further improvement in cash flow management.Income Statement
Hecla Mining Company shows a strong revenue growth rate of 15.51% TTM, indicating robust top-line expansion. The gross profit margin has improved to 23.09% TTM, reflecting better cost management. The net profit margin has also increased to 11.18% TTM, showcasing enhanced profitability. However, the EBIT margin slightly decreased to 12.29% TTM, suggesting some operational challenges. Overall, the income statement reflects positive growth and profitability trends, with some room for improvement in operational efficiency.75
Positive
Balance Sheet
The company's debt-to-equity ratio of 0.24 TTM indicates a conservative leverage position, which is favorable for financial stability. The return on equity has improved to 7.35% TTM, demonstrating better utilization of shareholder funds. The equity ratio stands at 76.03% TTM, highlighting a strong equity base. While the balance sheet shows solid financial health, the company should continue to monitor its leverage to maintain stability.70
Positive
Cash Flow
Operating cash flow to net income ratio of 1.66 TTM suggests strong cash generation relative to earnings. However, the free cash flow growth rate is negative at -10.47% TTM, indicating challenges in generating free cash flow. The free cash flow to net income ratio of 0.64 TTM shows a moderate conversion of earnings to cash. While the cash flow statement reflects good cash generation, the decline in free cash flow growth is a concern.65
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.22B | 929.92M | 720.23M | 718.90M | 807.47M | 691.87M |
| Gross Profit | 442.33M | 198.21M | 112.95M | 116.16M | 217.80M | 161.10M |
| EBITDA | 527.63M | 313.36M | 124.00M | 143.03M | 220.12M | 203.32M |
| Net Income | 308.98M | 35.80M | -84.22M | -37.35M | 35.09M | -9.46M |
Balance Sheet | ||||||
| Total Assets | 3.22B | 2.98B | 3.01B | 2.93B | 2.73B | 2.70B |
| Cash, Cash Equivalents and Short-Term Investments | 133.91M | 26.87M | 106.37M | 104.74M | 210.01M | 129.83M |
| Total Debt | 289.68M | 550.71M | 662.82M | 527.23M | 539.21M | 533.65M |
| Total Liabilities | 772.20M | 941.55M | 1.04B | 948.21M | 968.02M | 986.42M |
| Stockholders Equity | 2.45B | 2.04B | 1.97B | 1.98B | 1.76B | 1.71B |
Cash Flow | ||||||
| Free Cash Flow | 240.27M | 3.79M | -148.39M | -59.49M | 111.29M | 89.78M |
| Operating Cash Flow | 413.05M | 218.28M | 75.50M | 89.89M | 220.34M | 180.79M |
| Investing Cash Flow | -226.20M | -212.87M | -231.29M | -187.27M | -107.03M | -92.90M |
| Financing Cash Flow | -74.69M | -83.82M | 156.33M | -7.50M | -32.60M | -19.38M |
Hecla Mining Company Technical Analysis
Positive
20.30
Price Trends
15.34
Positive
12.56
Positive
9.11
Positive
Market Momentum
1.46
Negative
70.11
Negative
82.70
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HL, the sentiment is Positive. The current price of 20.3 is above the 20-day moving average (MA) of 17.93, above the 50-day MA of 15.34, and above the 200-day MA of 9.11, indicating a bullish trend. The MACD of 1.46 indicates Negative momentum. The RSI at 70.11 is Negative, neither overbought nor oversold. The STOCH value of 82.70 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HL.
Hecla Mining Company Risk Analysis
Hecla Mining Company disclosed 56 risk factors in its most recent earnings report. Hecla Mining Company reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hecla Mining Company Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $2.92B | 23.82 | 28.10% | 1.03% | 30.05% | 73.40% | |
77 Outperform | $13.65B | 17.16 | 32.05% | 0.89% | 29.08% | 72.12% | |
74 Outperform | $13.77B | 66.86 | 8.88% | 0.07% | 45.61% | ― | |
73 Outperform | $512.93M | 10.39 | 20.25% | 2.11% | 38.04% | 424.35% | |
69 Neutral | $12.13B | 27.99 | 19.57% | ― | 72.94% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | $10.76B | -56.37 | -8.31% | ― | 6.27% | 93.14% |
* Basic Materials Sector Average
HL
Hecla Mining Company
20.30
15.24
301.19%
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19.09
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DRD
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34.11
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302.24%
HMY
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21.86
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165.29%
SBSW
Sibanye Stillwater
15.39
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CMCL
Caledonia Mining
27.17
18.13
200.55%
Hecla Mining Company Corporate Events
DividendsBusiness Operations and StrategyFinancial Disclosures
Hecla Mining Announces Dividend Amid Strong Q3 Results
Positive
Nov 5, 2025
On November 5, 2025, Hecla Mining Company announced a dividend for its common and preferred stock, reflecting its strong financial performance in the third quarter of 2025. The company reported record quarterly revenue of $409.5 million, a 35% increase over the previous quarter, and achieved significant profitability with a net income of $100.6 million. Hecla also highlighted its operational achievements, including increased silver and gold production, and substantial deleveraging, which has strengthened its financial position and operational flexibility.
Business Operations and Strategy
Hecla Mining to Present at Gold Forum Americas
Neutral
Sep 11, 2025
On September 16, 2025, Hecla Mining Company representatives are scheduled to present at the Gold Forum Americas 2025 conference in Colorado Springs, Colorado. The company plans to provide an update on its Casa Berardi operations during this presentation.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.