Can Hecla Mining Hold on to Its Strong Silver Production Momentum?

Hecla Mining Company HL 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 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 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.

Just Released: Zacks Top 10 Stocks for 2026

Hurry – you can still get in early on our 10 top tickers for 2026. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful.

From inception in 2012 through November, 2025, the Zacks Top 10 Stocks gained +2,530.8%, more than QUADRUPLING the S&P 500’s +570.3%.

Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2026. You can still be among the first to see these just-released stocks with enormous potential.

See New Top 10 Stocks >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Hecla Mining Company (HL): Free Stock Analysis Report

First Majestic Silver Corp. (AG): Free Stock Analysis Report

Avino Silver (ASM): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research