Can Hecla Mining Maintain Its Robust Silver Output Performance?

Hecla Mining Company Achieves Robust Silver Output in 2025

In 2025, Hecla Mining Company (HL) demonstrated impressive operational results, with notable gains in silver production driving its quarterly performance and boosting investor optimism. The company reported annual revenues exceeding $1.4 billion, marking a 53% increase over the previous year. This growth was fueled by favorable silver prices, reliable operations, and prudent capital management. Hecla Mining produced 17 million ounces of silver in 2025, representing a 5% rise compared to 2024.

The Greens Creek mine in Alaska was a major contributor, yielding 8.7 million ounces of silver—up 3% year-over-year. The Lucky Friday project also saw improved results, producing 5.3 million ounces of silver thanks to enhanced grades and processing rates. Progress continues on the surface cooling initiative at Lucky Friday, which is expected to finish in the first half of 2026, enabling access to richer ore and extending the mine’s operational lifespan.

Keno Hill also showed steady progress, with output reaching 3.02 million ounces of silver in 2025, a 9% increase from the prior year. Improved power reliability and higher milling rates supported this growth. Hecla Mining is investing in essential infrastructure at Keno Hill to advance toward full commercial production, positioning the company for sustained momentum through ongoing exploration and increased silver output.

Performance of HL’s Industry Peers

Avino Silver & Gold Mines Ltd. (ASM) reported silver-equivalent production of 671,583 ounces in the fourth quarter of 2025, a 9% improvement over the same period in 2024. For the full year, Avino’s silver-equivalent output totaled 2.6 million ounces, a slight 2% decrease year-over-year but within the company’s guidance range.

First Majestic Silver Corp. (AG) produced 7.8 million silver-equivalent ounces in the fourth quarter of 2025, including 4.2 million ounces of silver. This represented a substantial 37% year-over-year increase, largely due to a 77% surge in silver production.

HL Stock Performance, Valuation, and Analyst Estimates

Hecla Mining’s share price has soared 257.7% over the past year, outpacing the industry’s growth of 171.1%.

Image Source: Zacks Investment Research

From a valuation perspective, HL trades at a forward price-to-earnings ratio of 35.76, significantly higher than the industry average of 17.86. The company currently holds a Value Score of F.

Image Source: Zacks Investment Research

Analyst estimates for HL’s 2026 earnings have been trending upward over the past two months.

Image Source: Zacks Investment Research

Hecla Mining is currently rated Zacks Rank #3 (Hold). For a full list of today’s Zacks #1 Rank (Strong Buy) stocks, click here.

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