Hecla Mining Company Stock Earnings Reports

Hecla reported a very strong Q1 2026 with revenue from continuing operations >$410 million, record adjusted EBITDA of $265 million and record consolidated free cash flow of $144 million. All operating mines were free-cash-flow positive in the quarter. Production was guided to 15.1–16.5 million ounces of silver for 2026, with a medium- to long-term pathway to 20+ million ounces driven by Keno Hill ramp, potential Midas restart and other Nevada projects. The company closed the Casa Berardi sale and redeemed its remaining senior notes, leaving Hecla without long-term debt and with an undrawn $225 million revolver and roughly $588 million cash at quarter-end (net cash ~ $321 million). Hecla is increasing exploration spend to $55 million in 2026 (near doubling year-over-year) focused on Nevada (Midas, Hollister, Aurora) and other growth and reserve-replacement targets. Management highlighted two near-term greenfield/low-capex opportunities at Greens Creek: a pyrite concentrate circuit (possible cash flow in ~2 years, modest capital intensity) and a tailings reprocessing opportunity (large contained metal in the dry stack, phase-3 metallurgy mid-2026). Keno Hill remains constrained by permitting (YESAB review and subsequent permit amendments expected around mid-2029) limiting a full ramp to the 440 tpd permit in the medium term; near-term throughput will be managed within regulatory constraints. Capital allocation priorities are (1) safety/environment, (2) sustaining/growth capex with target returns, (3) strategic investments (ROIC-driven), and (4) shareholder returns when appropriate; a board-approved buyback authorization for 20 million shares is in place and management will consider buybacks opportunistically against internal growth needs. Hecla emphasized jurisdictional safety (U.S. & Canada), strong silver exposure, long reserve life, low cost position, and a disciplined approach to M&A and capital returns.