HL · Hecla Mining Company

Hecla Mining Company reported strong first quarter 2026 results, driven by significantly higher realized silver and gold prices. Revenue from continuing operations reached $411 million, a 13% increase from the prior quarter and a 100% increase year-over-year, reflecting the combination of higher precious metals prices partly offset by 5% and 6% lower silver and gold production, respectively. Net income from continuing operations was $165 million ($0.25 per share), compared to $24 million ($0.04 per share) in the first quarter of 2025. Adjusted EBITDA from continuing operations hit a record $265 million, up 31% sequentially and nearly 3.5 times the prior year's $77 million. Cash flow from operations was $183 million, and free cash flow from continuing operations reached a record $144 million. The company ended the quarter with $588 million in cash and $266 million in total debt. Subsequent to quarter end, Hecla redeemed its remaining $263 million of 7.25% Senior Notes, leaving the company debt-free with an undrawn $225 million revolving credit facility. Management highlighted the strength of the platform, the sharpened focus on silver following the Casa Berardi sale, and the quality of organic growth initiatives. The company also declared a common stock dividend of $0.00375 per share, payable on June 10, 2026, to shareholders of record as of May 22, 2026.