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Hecla Mining Company (HL) USD

At a glance: strengths & risks
Revenue growing (+53%)Profit growing (+799%)Margins improving (32%→48%)Net cash balance sheetCheaper than own history (EV/EBITDA 11.5 vs avg 19.0)

Sector: Gold mining

Geography: United States, Canada

COMM_HL

Price chart

15.32 USDDay -2.36%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
15.32 USD · -2.36%
Market cap
10.3 bn USD

Growth

Δ revenue y/y
100.4%
Δ EBITDA y/y
230.2%

Multiples

P/E (LTM)
37.5x
3y avg: 74.0x
P/B (FY)
4.0x
P/E (ann.)
<0
EV/EBITDA (LTM)
11.5x
3y avg: 19.0x
EV/EBITDA (ann.)
9.6x

Cash return

Dividend yield
0.1%
FCF yield (LTM)
6.6%

Value creation

to target market cap (spot commodity model)
Upside (potential)

Liquidity

Daily turnover (listing)
693 mln USD

Shares: yahoo_fundamentals_timeseries/HL

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)PARTIAL411.4
y/y 100.4%
223.1
y/y 370.6%
34.5
y/y 12.6%
257.6
y/y 230.2%
-19.0
y/y -165.9%
194.2-39.33376.3
y/y 11.7%
2570.8
y/y 24.0%
-2.9%-344.5Link
2025-12-31Q4 2025 (3M)OK504.1
y/y 101.9%
225.0
y/y 489.9%
39.1
y/y -5.1%
264.1
y/y 232.9%
134.4
y/y 1027.2%
217.1-82.33560.6
y/y 19.4%
2591.6
y/y 27.1%
12.8%-9.4Link
2025-09-30Q3 2025 (3M)OK409.5
y/y 67.1%
148.6
y/y 561.4%
49.4
y/y 11.9%
198.0
y/y 197.4%
100.7
y/y 5619.8%
148.0-57.93221.8
y/y 9.0%
2449.6
y/y 20.2%
5.6%135.9Link
2025-06-30Q2 2025 (3M)OK304.0
y/y 23.8%
93.8
y/y 130.9%
46.5
y/y -13.8%
140.2
y/y 48.4%
57.7
y/y 107.1%
161.8-74.33309.4
y/y 12.6%
2310.0
y/y 16.7%
10.5%260.4Link
2025-03-31Q1 2025 (3M)OK205.3
y/y 8.3%
47.4
y/y 836.1%
30.6
y/y -40.3%
78.0
y/y 38.6%
28.9
y/y
35.7-37.83023.6
y/y 1.0%
2074.0
y/y 5.9%
5.6%537.1Link
2024-12-31Q4 2024 (3M)OK249.7
y/y 55.4%
38.1
y/y 190.0%
41.2
y/y -20.7%
79.3
y/y 729.1%
11.9
y/y 127.8%
67.5-60.82981.1
y/y -1.0%
2039.5
y/y 3.6%
1.8%545.6Link
2024-09-30Q3 2024 (3M)OK245.1
y/y 34.7%
22.5
y/y
44.1
y/y 18.9%
66.6
y/y 172.3%
1.8
y/y
55.0-55.72955.7
y/y -0.2%
2038.3
y/y 3.1%
0.1%510.2Link
2024-06-30Q2 2024 (3M)OK245.7
y/y 37.9%
40.6
y/y 743.9%
53.9
y/y 55.3%
94.5
y/y 139.1%
27.9
y/y
78.7-50.42939.8
y/y -0.2%
1980.1
y/y -0.6%
5.7%558.0Link
2024-03-31Q1 2024 (3M)OK189.5
y/y -5.0%
5.1
y/y -8.8%
51.2
y/y 28.4%
56.3
y/y 23.9%
-5.8
y/y
17.1-47.62994.3
y/y 2.3%
1958.6
y/y -1.7%
-1.2%582.3Link
2023-12-31Q4 2023 (3M)OK160.7
y/y
-42.4
y/y
52.0
y/y
9.6
y/y
-42.9
y/y
0.9-62.63011.1
y/y
1968.1
y/y
-4.3%582.1Link
2023-09-30Q3 2023 (3M)OK181.9
y/y
-12.6
y/y
37.1
y/y
24.5
y/y
-22.4
y/y
10.2-55.42961.2
y/y
1977.8
y/y
-1.5%504.3Link
2023-06-30Q2 2023 (3M)OK178.1
y/y
4.8
y/y
34.7
y/y
39.5
y/y
-15.7
y/y
23.8-51.52945.5
y/y
1992.8
y/y
-3.2%453.0Link
2023-03-31Q1 2023 (3M)OK199.5
y/y
5.6
y/y
39.9
y/y
45.4
y/y
-3.2
y/y
40.6-54.42925.6
y/y
1992.2
y/y
421.0Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02004006002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%0%100%200%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-10001002003004002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-400-20002004006002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Gold

Proved reserves
7.35 mln gold ounces eq.
2025
Reserve life (R/P)
13.5 yrs
reserves ÷ annual output
Annual production
0.54 mln gold ounces eq.
2025

Production, mln gold ounces eq.

0.1320200.5420210.5520220.5220230.5620240.5420250.092026

Proved reserves

YearReserves, mln gold ounces eq.
20257.35
20237.49
20227.91
20217.41

Production

YearProduction, mln gold ounces eq.per day
20260.09 * (3M)
−35.1%
1 004
20250.54
−3.4%
1 489
20240.56
+7.6%
1 540
20230.52
−4.9%
1 432
20220.55
+1.1%
1 507
20210.541 490
20200.13 * (3M)1 476

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Silver

Current 58spot vs LTM -8%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -33.0% ▼ -0.1 pp 1d

Main driver: Silver -8% vs LTM; revenue ×0.96 vs costs ×1.04; EBITDA 860→604; at 12.0× EV/EBITDA → -33%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Silver (rev)+45%57.6462.8341.56-8%-34%
Gold (rev)+30%4 050.274 246.023 189.61-5%-25%
Copper (rev)+10%13 996.9012 244.6610 743.46+14%-12%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue1 629
LTM EBITDA860
LTM cash costs (revenue − EBITDA)769
2 · Revenue projection
Revenue multiplier — spot×0.963 (-4%)
= Spot revenue1 569
Revenue multiplier — 3y price×0.761 (-24%)
= 3-year-price revenue1 239
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs800
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs800
4 · EBITDA projection (revenue − costs)
= Spot EBITDA769
= 3-year-price EBITDA439
Conservative EBITDA = min(spot, avg)604
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)12.0x
Target EV = EV/EBITDA × conservative EBITDA7 252
Net debt-329
Target market cap = EV − net debt7 581
Current market cap9 228

Upside = target market cap ÷ current − 1 = -33.0%

Life of mine: 15 yrs — before haircut -17.8%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q2178199-10.5%4044-10.6%
2023 Q3182189-4.0%2436-32.9%
2023 Q4161193-16.6%1035-72.6%
2024 Q1190184+3.1%5630+89.3%
2024 Q2246207+18.6%9558+61.8%
2024 Q3245224+9.4%6772-7.6%
2024 Q4250243+2.9%7985-6.9%
2025 Q1205263-21.8%78100-22.2%
2025 Q2304268+13.3%140108+30.4%
2025 Q3410299+37.2%198135+47.2%
2025 Q4504406+24.2%264233+13.2%
2026 Q1411574-28.4%258384-32.9%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +53% vs +29% the year before — a +23.9 pp move. 3-year CAGR +26%.
revenue growth by year: 2023 +0% · 2024 +29% · 2025 +53%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 5.9x · target 75th pct (3y) 17.0x · LTM avg 21.6x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-220.004 USDEx-dividend: 0.004 USD per sharePaidYahoo Finance (ex-div)
2026-03-090.004 USDEx-dividend: 0.004 USD per sharePaidYahoo Finance (ex-div)
2025-11-240.004 USDEx-dividend: 0.004 USD per sharePaidYahoo Finance (ex-div)
2025-08-220.004 USDEx-dividend: 0.004 USD per sharePaidYahoo Finance (ex-div)
2025-05-230.004 USDEx-dividend: 0.004 USD per sharePaidYahoo Finance (ex-div)
2025-03-100.004 USDEx-dividend: 0.004 USD per sharePaidYahoo Finance (ex-div)
2024-11-210.014 USDEx-dividend: 0.014 USD per sharePaidYahoo Finance (ex-div)
2024-08-260.014 USDEx-dividend: 0.014 USD per sharePaidYahoo Finance (ex-div)
2024-05-230.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2024-03-110.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2023-11-220.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2023-08-230.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2023-06-140.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2023-05-190.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2023-03-080.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2022-11-230.004 USDEx-dividend: 0.004 USD per sharePaidYahoo Finance (ex-div)
2022-08-180.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2022-05-240.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2022-03-080.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2021-11-180.006 USDEx-dividend: 0.006 USD per sharePaidYahoo Finance (ex-div)
2021-08-200.011 USDEx-dividend: 0.011 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Hecla Mining Company (HL) — from primary filings.

Hecla Mining Company explores for, mines, and processes precious and base metals, primarily silver, gold, lead, and zinc, which it sells to smelters, metal traders, and processors.

Frequently asked questions

What is Hecla Mining Company (HL)'s P/E ratio?
Hecla Mining Company (HL) trades at a P/E of 37.5x (price to trailing 12-month earnings).
What is Hecla Mining Company (HL)'s EV/EBITDA?
Hecla Mining Company (HL) trades at 11.5x EV/EBITDA.
What is Hecla Mining Company (HL)'s P/B ratio?
Hecla Mining Company (HL) trades at a P/B of 4.0x.
What is Hecla Mining Company (HL)'s dividend yield?
Hecla Mining Company (HL)'s trailing 12-month dividend yield is 0.1%.
What is Hecla Mining Company (HL)'s return on equity (ROE)?
Hecla Mining Company (HL)'s ROE is -2.9%.
What is Hecla Mining Company (HL)'s market capitalization?
Hecla Mining Company (HL)'s market cap is 10.3 bn USD.