<div id="readability-page-1"><div><ul> <li>Hecla Mining recently hit a new 52-week high after reporting record Q3 2025 revenue, earnings, and cash flow, supported by very large year-to-date silver price gains and reduced leverage.</li> <li>The company’s addition to the S&amp;P MidCap 400 Index and progress on projects such as Polaris and Midas highlight growing operational scale and exploration depth that could reshape how investors view its silver-focused portfolio.</li> <li>We’ll now examine how Hecla’s record earnings and S&amp;P MidCap 400 inclusion may reshape its investment narrative and future expectations.</li> </ul><p>We've found 12 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</p><h2>Hecla Mining Investment Narrative Recap</h2><p>To own Hecla today, you need to believe that its leverage to silver prices and its North American mine portfolio can justify today’s higher valuation multiples. The latest record Q3 2025 earnings and reduced leverage support that view in the near term, while the biggest current risk is that elevated capital needs and tighter regulations could eventually weigh on free cash flow even if silver prices stay supportive.</p> <p>The most relevant recent development is Hecla’s pending addition to the S&amp;P MidCap 400 Index, which could increase liquidity and broaden its shareholder base at a time when its valuation ratios already sit near historical highs. That shift in ownership may amplify both the impact of strong silver prices and any future concerns about mine expansion costs, ESG standards, or potential dilution if internal cash generation proves insufficient.</p> <p>Yet behind the surge in silver prices and index inclusion, investors should be aware of the growing capital intensity at key assets and the risk that...</p> <p>Read the full narrative on Hecla Mining (it's free!)</p><p>Hecla Mining's narrative projects $954.2 million revenue and $210.3 million earnings by 2028.</p><p>Uncover how Hecla Mining's forecasts yield a $14.55 fair value, a 26% downside to its current price.</p><h2>Exploring Other Perspectives</h2><figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/6811a312-a75e-43e4-9e1a-194dff1810fe/chart/quote-price?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/6811a312-a75e-43e4-9e1a-194dff1810fe/chart/quote-price"/><figcaption>HL 1-Year Stock Price Chart</figcaption></figure> <p>Ten members of the Simply Wall St Community currently see Hecla’s fair value anywhere between US$3.53 and US$41.41, with estimates spread across the full range. Against that wide backdrop, the recent spike in silver prices and record results puts extra focus on whether Hecla can sustain free cash flow as capital requirements and regulatory expectations keep rising.</p><p>Explore 10 other fair value estimates on Hecla Mining - why the stock might be worth over 2x more than the current price!</p><h2>Build Your Own Hecla Mining Narrative</h2><p>Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.</p><ul><li>A great starting point for your Hecla Mining research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.</li><li>Our free Hecla Mining research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Hecla Mining's overall financial health at a glance.</li></ul><h2>Contemplating Other Strategies?</h2><p>Markets shift fast. These stocks won't stay hidden for long. Get the list while it matters:</p><ul><li>The best AI stocks today may lie beyond giants like Nvidia and Microsoft. 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Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><p>Mobile Infrastructure for Defense and Disaster</p><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p><p>Get the investor briefing before the next round of contracts</p><p><span>Sponsored On Behalf of CiTech</span></p></div></div></div>

<p>Hecla Mining achieved record Q3 2025 revenue, earnings, and cash flow, driven by silver price gains and reduced leverage. The company's inclusion in the S&P MidCap 400 Index and progress on projects like Polaris and Midas enhance its operational scale and exploration depth. This could reshape investor perceptions of its silver-focused portfolio, despite risks from capital needs and regulations. Hecla projects $954.2 million revenue and $210.3 million earnings by 2028, with a fair value of $14.55, indicating a 26% downside to its current price.</p>

Record Q3 Results And S&P MidCap 400 Inclusion Could Be A Game Changer For Hecla Mining (HL)