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Largest primary silver producer in the United States, also mining gold, lead and zinc.
Largest primary silver producer in the United States, also mining gold, lead and zinc.
Sells metal concentrates to smelters and refiners at market-linked prices, so silver and gold prices decide the result and lead and zinc by-products offset some cost. Greens Creek in Alaska and Lucky Friday in Idaho are its main US silver mines, and it also runs gold in Quebec and silver in the Yukon.
Moat: none (scale). Commodity silver/gold producer; no pricing power over the metals it mines.
Headquarters: Coeur d'Alene, Idaho, United States · Founded: 1891 · Employees: 1,865
Size Hecla Mining (HL) is a United States Materials company (Precious Metals) with a market value of $9.90B, the 782nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $14.74 on 6 Nov 2026.
Performance Over six months the shares fell 20.8%, against -7.6% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 29.6% over the last twelve months (peer median +55.9%); the operating margin is 47.9% (peer median 45.7%).
Valuation It trades at 18.1× forward earnings against a peer median of 10.7× (4th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 17.0 points above its cost of capital (12.0% WACC).
Short interest Short interest is 5.4% of the free float (15 Oct 2026).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.59B | $1.42B | $930M | $720M | $713M |
| Revenue growth | — | +53% | +29% | +1% | — |
| Gross profit | $828M | $585M | $161M | $57.8M | $62.3M |
| EBITDA | $919M | $707M | $320M | $201M | $150M |
| Net income | $575M | $322M | $35.8M | -$84.2M | -$37.3M |
| Free cash flow | $577M | $310M | $3.79M | -$148M | -$59.5M |
| Capital expenditure | $212M | $252M | $214M | $224M | $149M |
| Total debt | $11.2M | $288M | $561M | $674M | $539M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hecla Mining HL | $9.90B | -21% | +30% | 48% | 18.1× | 8.0% |
| Coeur Mining CDE | $15.9B | -17% | +117% | 35% | 12.1× | 10.9% |
| Lundin Gold LUG.TO | $17.0B | +7% | +36% | 65% | 16.0× | 9.9% |
| First Majestic Silver AG.TO | $7.52B | -27% | +96% | 44% | 18.1× | 9.2% |
| Fresnillo FRES.L | $24.9B | -31% | +48% | 59% | 11.8× | -8.2% |
| Hochschild Mining HOC.L | $3.37B | -27% | +37% | 44% | 9.8× | -10.7% |
| Fortuna Mining FVI.TO | $2.87B | -5% | +6% | 49% | 6.4× | -4.6% |
| Endeavour Silver EDR.TO | $2.34B | -20% | +198% | 26% | 10.9× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.9% | +1.0% | 2nd lowest of 21 |
| 6-month return | -20.8% | -7.6% | 7th lowest of 21 |
| Distance from 52-week high | -56.9% | -33.8% | 2nd lowest of 21 |
| Revenue growth (TTM) | +29.6% | +55.9% | 6th lowest of 21 |
| Operating margin | 47.9% | 45.7% | 8th highest of 21 |
| Forward P/E | 18.1× | 10.7× | 4th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 8.0% | 1.4% | 4th most demanding of 16 |
| Growth delivered (Del g) | +15.0% | +17.8% | 5th lowest of 15 |
| Hurdle (Req g minus delivered) | -7.0 pp | -18.4 pp | 4th most demanding of 15 |
| ROIC minus cost of capital | +17.0 pp | +12.4 pp | 9th highest of 21 |
| EV / EBITDA | 10.0× | 8.4× | 4th most expensive of 18 |
| Net debt / EBITDA | -0.7× | 0.0× | 3rd least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hecla Mining HL | United States | $9.90B | -21% | +30% | 48% | 18.1× | 8.0% | +15.0% |
| Harmony Gold Mining Co. Ltd. Sponsored ADR HMY | United States | $9.84B | -3% | +50% | 45% | 5.3× | -14.1% | +17.7% |
| G Mining Ventures GMIN.TO | Canada | $9.98B | -10% | +72% | 66% | 19.4× | n/a | n/a |
| Shanjin International Gold 000975.SZ | China | $10.2B | -6% | -4% | 36% | 15.2× | -5.7% | +16.7% |
| Eldorado Gold ELD.TO | Canada | $9.37B | +11% | +25% | 45% | 7.7× | n/a | n/a |
| IAMGOLD IMG.TO | Canada | $10.8B | +6% | +83% | 48% | 9.1× | 1.4% | +19.1% |
| China Gold International Resources CGG.TO | Canada | $9.08B | +10% | +53% | 56% | 9.7× | 5.2% | +10.4% |
| Chifeng Jilong Gold Mining 6693.HK | Hong Kong | $11.1B | -24% | +29% | 43% | 12.9× | 11.0% | +21.8% |
| DPM Metals DPM.TO | Canada | $8.61B | +18% | +96% | 55% | 10.1× | 5.1% | +8.6% |
| Zhaojin Mining Industry 1818.HK | Hong Kong | $7.87B | -42% | +49% | 34% | 17.0× | -2.5% | +17.9% |
| First Majestic Silver AG.TO | Canada | $7.52B | -27% | +96% | 44% | 18.1× | 9.2% | +29.2% |
| Alamos Gold AGI.TO | Canada | $13.4B | -22% | +41% | 57% | 11.3× | 7.8% | +20.3% |
| Compania de Minas Buenaventura SAA Sponsored ADR BVN | United States | $7.25B | -21% | +64% | 45% | 6.5× | -14.1% | +20.7% |
| Equinox Gold EQX.TO | Canada | $13.5B | -17% | +63% | 36% | 9.7× | 21.0% | +17.5% |
| B2Gold BTO.TO | Canada | $7.19B | +13% | +72% | 46% | 6.1× | -7.0% | +12.3% |
| Endeavour Mining EDV.TO | Canada | $13.7B | -10% | +27% | 47% | 9.3× | -6.5% | +25.4% |
| OR Royalties OR.TO | Canada | $6.81B | 0% | +68% | 77% | 29.5× | n/a | n/a |
| Artemis Gold ARTG.V | Canada | $6.76B | +18% | +148% | 71% | 11.3× | 6.6% | n/a |
| Triple Flag Precious Metals TFPM.TO | Canada | $6.54B | +1% | +45% | 63% | 24.7× | n/a | n/a |
| Zhongjin Gold 600489.SS | China | $15.1B | -20% | +25% | 13% | 11.4× | -5.9% | +10.5% |
| Sibanye Stillwater Limited Sponsored ADR SBSW | United States | $6.30B | -29% | +59% | 26% | 5.9× | n/a | n/a |