HL
Hecla Mining Company
HL's fundamentals are strong and it looks cheap: trading at 24x earnings, about a third of its usual 79x. Analysts expect earnings growth, though they disagree widely on how much.
HL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
HL's revenue, profitability, cash flow and balance sheet are all currently healthy.
HL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 16x | $13.35 | — |
| Current | 24x | $13.35 | — |
| Cheap | 40x | $22.27 | +67% |
| Fair | 77x | $43.28 | +224% |
| Expensive | 176x | $98.28 | +636% |
Historical ranges are pointers, not guarantees.
HL's PE is in its cheap range at 24x. If earnings grow as analysts expect, today's price would be 16x next year's earnings.
HL Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect HL's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
HL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.81 | +45% |
| Q3 2026 | $0.56 | +75% |
| Q2 2026 | $0.49 | +188% |
| Q1 2026 | $0.41 | +242% |
| Q4 2025 | $0.49 | +717% |
| Q3 2025 | $0.32 | +$0.35 |
| Q2 2025 | $0.17 | +$0.24 |
| Q1 2025 | $0.12 | +$0.26 |
| Q4 2024 | $0.06 | +$0.20 |
HL's earnings per share have climbed steadily: $0.56 over the past year, up 75% from the year before, and higher year over year for 10 quarters in a row.
HL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $394.8M | -3.6% |
| Q2 2026 | $333.9M | +9.8% |
| Q1 2026 | $411.4M | +57% |
| Q4 2025 | $448.1M | +79% |
| Q3 2025 | $409.5M | +67% |
| Q2 2025 | $304M | +24% |
| Q1 2025 | $261.3M | +38% |
| Q4 2024 | $249.7M | +55% |
HL's revenue is growing: $395M last quarter, down 3.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 40% | +3.5 points |
| Q2 2026 | 44% | +13 points |
| Q1 2026 | 54% | +34 points |
| Q4 2025 | 49% | +34 points |
| Q3 2025 | 36% | +27 points |
| Q2 2025 | 31% | +14 points |
| Q1 2025 | 20% | +17 points |
| Q4 2024 | 15% | +42 points |
HL's operating margin was 40% last quarter, up 3.5 points from the same quarter a year ago.
HL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $151.2M | +68% |
| Q2 2026 | $135.8M | +31% |
| Q1 2026 | $155M | +$173.3M |
| Q4 2025 | $134.7M | +1915% |
| Q3 2025 | $90.1M | +$90.8M |
| Q2 2025 | $103.8M | +267% |
| Q1 2025 | -$18.4M | +$12.2M |
| Q4 2024 | $6.7M | +$68.4M |
HL generated $577M in free cash flow over the past year, about three times what it generated the year before.
HL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +986K shares |
| 1 year | +0.7% | +4.9M shares |
| 3 years | +11% | +69M shares |
| 5 years | +26% | +140M shares |
| Available history | +38% | +186M shares |
HL has 677M diluted shares, up 0.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $3.4M |
| Q1 2026 | $1.2M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $885,000 |
| Q1 2025 | — |
| Q4 2024 | — |
HL has spent almost nothing on buybacks in the past year.
HL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.8x | Net Cash |
| Q2 2026 | -0.5x | Net Cash |
| Q1 2026 | -0.4x | Net Cash |
| Q4 2025 | 0.0x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 1.6x | Healthy |
| Q4 2024 | 1.7x | Healthy |
HL has more cash than debt.
HL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.4 | Neutral |
| Stochastic | 8.3 | Oversold |
HL's weekly RSI is 38 (neutral) and its Stochastic is 8 (oversold).
HL PE vs Basic Materials Sector
| Metric | HL | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 19x | 28% above |
| PE % | 0 | 40 | 40 pts below |
HL is trading at 24x earnings, a 28% premium to the Basic Materials sector's median of 19x.
HL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $15.4 | 13% below |
| 20 week MA | $16.7 | 20% below |
| 50 week MA | $18.6 | 28% below |
| 100 week MA | $13.1 | 2% above |
| 200 week MA | $9.16 | 46% above |
HL has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 46% above its 200-week average.
HL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.31 | $6.24 | +89% |
| 2021 | $6.24 | $5.27 | -16% |
| 2022 | $5.27 | $5.50 | +4.4% |
| 2023 | $5.50 | $4.81 | -13% |
| 2024 | $4.81 | $5.01 | +4.2% |
| 2025 | $5.01 | $20.2 | +303% |
| 2026 YTD | $20.2 | $13.4 | -34% |
HL is down 34% so far in 2026, after finishing higher in four of the previous six years.