| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 33 | 40.4x | 17.8x | Bottom tier | |
Growth | 83 | 51.2% | 7.1% | Top tier | |
Quality | 88 | 21.1% | 4.5% | Top tier | |
Safety | 95 | — | 2.6x | Top tier | |
Capital Return | 21 | 0.08% | 2.12% | Bottom tier | |
Momentum | 54 | 92.4% | 2.9% | Around median | |
Sentiment | 40 | 4 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Hecla Mining Company operates as a silver producer in North America, generating revenue from its Greens Creek, Lucky Friday, and Keno Hill mines, with gold and base metals contributing as by-products. In Q2 FY2026, mine revenues totaled $323 million; silver accounted for 68%, gold for 14%, and the remainder came from base-metal by-products. The company produced 4.2 million ounces of silver, including 2.1 million ounces at Greens Creek, a record 1.5 million ounces at Lucky Friday, and 625 thousand ounces at Keno Hill.
Revenue from continuing operations totaled $334 million in Q2 FY2026, compared with the record $411 million in Q1 FY2026, due to lower metals prices and the timing of sales of silver concentrates produced at Greens Creek. Continuing operations generated net income of $118 million, or $0.18 per share, and adjusted earnings before interest, taxes, depreciation, and amortization of $199 million, more than double the $94 million recorded a year earlier. Operating cash flow totaled $175 million and free cash flow totaled $136 million, with 90% of the realized silver price converted into margin during the quarter.
Hecla ended Q2 FY2026 with $483 million in cash, net cash of approximately $472 million, and no long-term debt other than capital leases, along with a nearly undrawn $225 million revolving credit facility and a $75 million expansion option. All three of its mines recorded positive free cash flow; Greens Creek generated a site record of $130 million, Lucky Friday generated a record $88 million, and Keno Hill approached $15 million.
The analyst consensus on HL is Neutral, with an average price target of $23.44 and a target range between $21 and $26.75. Both the average target and the highest target are below the 52-week range high of $34.17, while the full annual range extends from $8.42 to $34.17; this divergence reflects the valuation's sensitivity to silver prices, cash-flow strength, and the risk of delays at Keno Hill. The available data do not provide a valid earnings multiple on which to rely, so the valuation assessment is based on the target range, the Neutral consensus, and the annual range.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Revenue from continuing operations totaled $334 million, net income totaled $118 million, and adjusted earnings before interest, taxes, depreciation, and amortization totaled $199 million. The company produced 4.2 million ounces of silver, up 8% from the previous quarter, and Lucky Friday recorded a record 1.5 million ounces. Free cash flow totaled $136 million, with site records of $130 million at Greens Creek and $88 million at Lucky Friday.
Revenue from continuing operations declined from the record $411 million in Q1 FY2026 to $334 million in Q2 FY2026. Management attributed the difference to lower metals prices and the timing of the shipment of a significant quantity of silver concentrates produced at Greens Creek. Those inventories were shipped in early August 2026, and management said they would appear in Q3 FY2026 results, so it did not characterize the decline as a production issue.
Hecla estimates that the new circuit could add 1 million to 1.2 million ounces of silver and 10 thousand to 15 thousand ounces of gold annually once the ramp-up is complete. Estimated initial capital spending is $40–60 million, with additional annual operating costs of $10–15 million. The company is targeting production startup between Q4 FY2027 and the first half of FY2028, but it emphasized that engineering, costs, and concentrate payment terms are still being finalized.
Automated analysis for informational purposes only — not investment advice.
Hecla is focusing on permitting and infrastructure expansion instead of pushing production before the site is ready, and it reduced FY2026 guidance to 2.2–2.6 million ounces of silver. The mine needs sufficient capacity for water treatment, tailings storage, and waste dumps, and as of August 2026 it had met only the silver recovery criterion among the five commercial production criteria. Management expects the ramp-up to higher levels to begin around the end of 2029 if the critical permits arrive by mid-2029 and the infrastructure projects are completed during the preceding two or three years.
The company ended Q2 FY2026 with $483 million in cash and net cash of approximately $472 million. It had no long-term debt outside capital leases, while its $225 million revolving facility was nearly undrawn and had a $75 million expansion option. This liquidity supports a record FY2026 exploration and early-stage development budget of $55 million, including $24 million near the mines, $16 million in Nevada, and $10 million for early-stage and generative exploration.
The average analyst price target is $23.44, with the lowest target at $21 and the highest at $26.75, while the consensus rating is Neutral. These targets are below the 52-week range high of $34.17, while the range low is $8.42. This indicates that analysts are balancing strong cash flows and the Greens Creek projects on one side against metals-price sensitivity and the delay in the Keno Hill production ramp-up until around the end of 2029 on the other.
