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Can Hecla Mining Hold on to Its Strong Silver Production Momentum?
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Key Takeaways
Hecla Mining generated over $1.4B in 2025 revenues, up 53% year over year on strong silver prices.
HL produced 17M ounces of silver in 2025, up 5%, led by higher output at Greens Creek and Lucky Friday.
Hecla Mining's Keno Hill output rose 9% to 3.02M ounces as infrastructure upgrades support ramp-up.
Hecla Mining Company (HL - Free Report) delivered strong operational performance in 2025, with solid silver production emerging as a key contributor to its quarterly results and strengthening investor confidence. Hecla Mining reported revenues of more than $1.4 billion in 2025, up 53% from the prior year, supported by strong silver prices, stable operations and disciplined capital deployment. Also, in the same period, the company produced 17.0 million ounces of silver, up 5% from the previous year.
The growth in silver production was aided by Hecla Mining’s core operating assets, led by the Greens Creek mine in Alaska. During 2025, Greens Creek produced 8.7 million ounces of silver, up 3% compared with 2024.
The company’s Lucky Friday project also delivered improved performance during the year. The mine produced 5.3 million ounces of silver, driven by higher milled grades and throughput. The surface cooling project at the mine continues to progress and is expected to be completed in the first half of 2026, which should allow access to deeper, higher-grade ore and extend the mine life.
The Keno Hill project also showed steady improvement during the year. The mine produced 3.02 million ounces of silver in the year (up 9% year over year), supported by improved power reliability and higher milling rates. HL continues to advance Keno Hill toward commercial production through ongoing investment in critical infrastructure, which is supporting the production ramp-up. Higher silver production and continued exploration investments position HL well to sustain growth momentum in the quarters ahead.
HL’s Peer Performance
Avino Silver & Gold Mines Ltd.’s (ASM - Free Report) silver-equivalent production was 671,583 ounces in the fourth quarter of 2025, which marked a 9% increase from the fourth quarter of 2024. Avino Silver’s annual silver-equivalent production came in at 2.6 million ounces in 2025, down 2% year over year. However, the figure came within Avino Silver’s guidance of 2.5-2.8 million ounces.
First Majestic Silver Corp.’s (AG - Free Report) total production reached 7.8 million silver-equivalent (AgEq) ounces in the fourth quarter of 2025. In the same period, First Majestic Silver produced 4.2 million silver ounces. The AgEq ounces produced by First Majestic Silver marked a solid 37% year-over-year increase, attributed to a 77% surge in silver production.
HL's Price Performance, Valuation and Estimates
Shares of Hecla Mining have gained 257.7% in the past year compared with the industry’s growth of 171.1%.
Image Source: Zacks Investment Research
From a valuation standpoint, HL is trading at a forward price-to-earnings ratio of 35.76X, above the industry’s average of 17.86X. Hecla Mining carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for HL’s 2026 earnings has been on the rise over the past 60 days.
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Image: Bigstock
Can Hecla Mining Hold on to Its Strong Silver Production Momentum?
Key Takeaways
Hecla Mining Company (HL - Free Report) delivered strong operational performance in 2025, with solid silver production emerging as a key contributor to its quarterly results and strengthening investor confidence. Hecla Mining reported revenues of more than $1.4 billion in 2025, up 53% from the prior year, supported by strong silver prices, stable operations and disciplined capital deployment. Also, in the same period, the company produced 17.0 million ounces of silver, up 5% from the previous year.
The growth in silver production was aided by Hecla Mining’s core operating assets, led by the Greens Creek mine in Alaska. During 2025, Greens Creek produced 8.7 million ounces of silver, up 3% compared with 2024.
The company’s Lucky Friday project also delivered improved performance during the year. The mine produced 5.3 million ounces of silver, driven by higher milled grades and throughput. The surface cooling project at the mine continues to progress and is expected to be completed in the first half of 2026, which should allow access to deeper, higher-grade ore and extend the mine life.
The Keno Hill project also showed steady improvement during the year. The mine produced 3.02 million ounces of silver in the year (up 9% year over year), supported by improved power reliability and higher milling rates. HL continues to advance Keno Hill toward commercial production through ongoing investment in critical infrastructure, which is supporting the production ramp-up. Higher silver production and continued exploration investments position HL well to sustain growth momentum in the quarters ahead.
HL’s Peer Performance
Avino Silver & Gold Mines Ltd.’s (ASM - Free Report) silver-equivalent production was 671,583 ounces in the fourth quarter of 2025, which marked a 9% increase from the fourth quarter of 2024. Avino Silver’s annual silver-equivalent production came in at 2.6 million ounces in 2025, down 2% year over year. However, the figure came within Avino Silver’s guidance of 2.5-2.8 million ounces.
First Majestic Silver Corp.’s (AG - Free Report) total production reached 7.8 million silver-equivalent (AgEq) ounces in the fourth quarter of 2025. In the same period, First Majestic Silver produced 4.2 million silver ounces. The AgEq ounces produced by First Majestic Silver marked a solid 37% year-over-year increase, attributed to a 77% surge in silver production.
HL's Price Performance, Valuation and Estimates
Shares of Hecla Mining have gained 257.7% in the past year compared with the industry’s growth of 171.1%.
Image Source: Zacks Investment Research
From a valuation standpoint, HL is trading at a forward price-to-earnings ratio of 35.76X, above the industry’s average of 17.86X. Hecla Mining carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for HL’s 2026 earnings has been on the rise over the past 60 days.
Image Source: Zacks Investment Research
Hecla Mining currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.