Hecla Mining Q2 revenue falls sequentially on lower metal prices

Hecla Mining

04/08/2026 22:10

Overview
US-Canada silver miner's Q2 revenue fell 19% from prior quarter on lower metal prices
Q2 adjusted EBITDA declined 25% sequentially; free cash flow more than doubled yr/yr
Company ended Q2 debt free with record cash position; Lucky Friday set silver output record

Outlook
Hecla sees 2026 consolidated silver production at 15.1-16.1 mln oz, lower upper end from prior
Company lowers 2026 silver cash cost guidance to ($4.00)-($3.75)/oz, AISC to $12.50-$13.50/oz
Hecla raises lower end of 2026 capital investment guidance to $208 mln, upper end unchanged at $223 mln

Result Drivers
LOWER METAL PRICES - Co said revenue and profitability declined from prior qtr mainly due to lower realized silver and gold prices and a declining price environment
SHIPMENT TIMING - Co attributed lower sales volumes to timing of shipments, mainly at Greens Creek, resulting in a build-up of silver concentrate inventory
LUCKY FRIDAY OUTPUT - Record silver production at Lucky Friday, driven by a 31% higher milled grade, contributed to higher consolidated silver output

Company press release: ID:nBw1gYSGna

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$333.85 mln
 
Q2 Net Income
 
$117.88 mln
 
Q2 Adjusted EBITDA
Miss
$199 mln
$243 mln (1 Analyst)
Q2 Free Cash Flow
 
$135.78 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the non-gold precious metals & minerals peer group is "buy"
Wall Street's median 12-month price target for Hecla Mining Co is $22.81, about 58% above its August 3 closing price of $14.43
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 17 three months ago

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Aug 4 - LBMA suspends Shandong Gold from gold, silver Good Delivery Lists

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)