Hecla Mining (HL) Surges 12.20% on S&P Index Inclusion, Q2 Earnings Boost

Hecla Mining (HL) surged 12.20% on Monday, marking its second consecutive day of gains, with a cumulative rise of 14.35% over two sessions. The stock reached its highest level since September 2025, climbing 13.97% intraday, driven by a confluence of strategic and operational catalysts.

The rally followed Hecla’s inclusion in the S&P SmallCap 600 Index, effective September 22, which boosted institutional demand and liquidity. This index addition, part of quarterly rebalancing, positioned the miner as a benchmark for mid-sized U.S. equities, attracting passive and active capital inflows. Analysts highlighted the move as a validation of Hecla’s financial resilience and growth potential, particularly amid rising investor focus on small-cap exposure.

Strong Q2 2025 results further underpinned the stock’s momentum. The company reported a 24% year-over-year revenue increase to $304 million, driven by higher silver and gold output. GAAP net income more than doubled to $0.09 per share, while EBITDA margins hit 34.2%, reflecting disciplined cost management. Low all-in sustaining costs and a robust $4.46 billion enterprise value reinforced confidence in its operational efficiency and scalability.

Institutional endorsements amplified the stock’s appeal. A Zacks Rank upgrade to #2 (Buy) on July 1, 2025, underscored Hecla’s outperformance relative to peers, with projected 145.5% EPS growth for 2025. Positive earnings revisions and a Momentum Style Score of B positioned it as a top pick for momentum investors. Broader market dynamics, including expectations of a Federal Reserve rate cut and inflationary pressures, also favored precious metals exposure, aligning with Hecla’s core commodities.

Operational targets for 35.5–39.0 million silver equivalent ounces in 2025, coupled with infrastructure upgrades at Keno Hill, signal sustained cost advantages. These factors, combined with macroeconomic tailwinds, position Hecla as a compelling long-term play in the volatile small-cap and precious metals sectors.