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Hecla Mining Company (HL) AI Stock Analysis

MX:HL

Hecla Mining Company

(BMV:HL)

Rating:―N/A
Action:N/A
Date:―

No summary available

Positive Factors
Strong cash generationStrong recent operating and free cash flow demonstrate that continuing operations are converting production and earnings into substantial liquidity. This supports exploration, sustaining investment and potential shareholder distributions, while improving resilience across the next several quarters.
Negative Factors
Commodity price exposureHecla’s earnings and cash generation remain structurally exposed to realized silver and gold prices, which can change independently of production performance. Lower prices can reduce revenue, weaken margins and make future investment returns less predictable across the planning period.

Hecla Mining Company (HL) vs. SPDR S&P 500 ETF (SPY)

-25%0%25%50%75%100%125%MX:HL-6.29%SPY+11.79%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
MXN 9.09B
Dividend Yield
0.12%
Average Volume (3M)
773
Price to Earnings (P/E)
27.1
Beta (1Y)
0.83
Revenue Growth
37.87%
EPS Growth
350.84%
Country
Mexico
Employees
1,865
Sector
Basic Materials
Sector Strength
61
Industry
Other Precious Metals

Hecla Mining Company Business Overview & Revenue Model

Company Description

Hecla Mining Company, along with its subsidiaries, engages in the exploration, acquisition, development, and extraction of both precious and base metal resources across the United States and internationally. The company produces concentrates of silve...

Hecla Mining Company Earnings Call Summary

Earnings Call Date:Aug 03, 2026(Q2-2026)|% Change Since:-4.56%|Next Earnings Date:Nov 02, 2026
Earnings Call SentimentPositive

The call presents a strongly positive operational and financial picture: robust adjusted EBITDA, near‑record free cash flow, record site-level cash generation, improved safety, and a very strong balance sheet that provides flexibility to invest in high-return, low‑CapEx organic projects (pyrite circuit, tailings reprocessing) and exploration. Offsetting items include a QoQ revenue decline driven by lower metal prices and shipment timing, early-stage nature and payability uncertainty for some projects, modestly higher AISC guidance at Lucky Friday due to sustaining capex, and multi-year permitting timelines (notably Keno Hill) which add execution/timing risk. On balance, the highlights — scale of cash generation, deleveraging to net cash, clear project pipeline and encouraging exploration — materially outweigh the lowlights.

Positive Updates

Strong adjusted EBITDA and profitability
Adjusted EBITDA from continuing operations was $199 million, more than double the $94 million a year ago (≈+112%), demonstrating substantially improved margins and operating leverage.

Negative Updates

Quarterly revenue decline due to metal prices and shipment timing
Revenue from continuing operations was $334 million versus a record $411 million in Q1 2026. Management attributed the decline to a pullback in metal prices from earlier highs and timing (a meaningful amount of Greens Creek silver concentrate was produced but not sold by quarter-end, shifting revenue into Q3).

Company Guidance

Management reiterated robust 2026 guidance and outlook, reporting continuing-operations revenue of $334M (mine revenue $323M), adjusted EBITDA $199M, net income from continuing ops $118M ($0.18/sh), operating cash flow $175M and consolidated free cash flow $136M (site free cash flows: Greens Creek $130M, Lucky Friday $88M, Keno Hill ~ $15M); the company ended Q2 with $483M cash, no long-term debt, an essentially undrawn $225M revolver (+$75M accordion) and a net cash position of ~ $472M versus net debt ~ $270M a year ago. Production and cost guidance: Greens Creek now guided to 8.0–8.3M oz Ag and 51–55k oz Au for 2026 (Q2: 2.1M oz Ag, >14k oz Au; Q2 CAS $50M; cash costs -$17.11/oz; AISC -$10.71/oz); Lucky Friday narrowed to 4.9–5.2M oz Ag (Q2 record 1.5M oz; Q2 CAS $35M; cash costs $3.95/oz; AISC $17.80/oz); Keno Hill 2026 guidance 2.2–2.6M oz Ag (Q2: 625k oz; positive free cash flow five quarters running). Project and capital metrics: the Greens Creek pyrite circuit could add ~1.0–1.2M oz Ag and 10–15k oz Au annually with estimated CapEx $40–60M and incremental Opex $10–15M/yr and first production targeted Q4 2027–H1 2028 (≈1‑year ramp), tailings reprocessing tests underway on material with ~51M oz Ag and ~600k oz Au in situ (~$6.1B at 6/30/26 prices), 2026 exploration/predevelopment budget $55M ($24M near-mine, $16M Nevada, $10M early-stage), and modeled 2026 after-tax free cash flow of ~$500M at $50 Ag/$3,500 Au, ~$700M at $75/$4,500 and ~$800M at $100/$5,500; safety TRIFR improved to 1.57.

Hecla Mining Company Risk Analysis

Hecla Mining Company disclosed 55 risk factors in its most recent earnings report. Hecla Mining Company reported the most risks in the "Finance & Corporate" category.

Higher RiskSector Avg.Lower RiskFinance & CorporateTech & InnovationLegal & RegulatoryProductionAbility to SellMacro & Political
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

1 New Risk
1.Item 1A. Risk Factors Item 1A. – Risk Factors of our 2025 Form 10-K set forth information relating to important risks and uncertainties that could materially adversely affect our business, financial condition or operating results.Q1, 2026

Hecla Mining Company Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

MX:HL against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
BVNBVN74Outperform$7.27B5.9627.66%4.30%67.75%122.36%
MUXMUX68Neutral$860.86M9.9113.47%―47.73%―
Sector *61Neutral$10.43B7.12-0.05%2.87%2.86%-36.73%
SBSWSBSW55Neutral$6.06B6.2634.68%9.36%59.20%―
PPTAPPTA41Neutral$2.08B-8.76-31.72%――-506.49%

* Basic Materials Sector Average

Performance Comparison

0%50%100%MX:HLBVNMUXSBSWPPTASSMRDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
MX:HL and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
MX:HLHecla Mining Company250.00-16.77-6.29%
BVNCompania de Minas Buenaventura SAA26.425.2224.63%
MUXMcEwen Mining Inc14.03-4.04-22.36%
SBSWSibanye Stillwater Limited8.59-1.31-13.21%
PPTAPerpetua Resources Corp.16.65-6.00-26.49%
SSMRSunshine Silver Mining & Refining Co.12.28-4.87-28.40%
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.