Hecla Mining Co Dossier
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SectorMaterials IndustryOther Precious Metals & Mining Beta (adjusted)1.23 Intrinsic Value $31.42median of 6 methods · middle span $12-$46based on filings through 30 Jun 2026 Market Price $17.00Price as of 1 Oct 2026 Significantly undervaluedIntrinsic value is 85% above the market price −50% · IV below pricenear fair value ±15%IV above price · +50% marker beyond scale (+85%) Data confidence Sign in to view data confidence Market Cap $11.4B Enterprise Value $10.9B Shares Outstanding 694.6M diluted Moat Rating Wide Next Earnings Date4 Nov 2026 Last ex-dividend26 Aug 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Hecla's operating position is constructive: second-quarter silver production increased sequentially, Lucky Friday set a quarterly production record, consolidated silver AISC was below revised full-year guidance, and the company ended June with no long-term debt other than finance leases. The offset is execution risk at pre-commercial Keno Hill, whose 2026 production outlook was reduced, together with exposure to volatile metals prices and early-stage permitting and engineering risk across the organic growth pipeline. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$17.00 Mean target$23.53 High · most bullish analyst$32.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $17.0024% Consolidated silver production falls below the revised guidance floor, Keno Hill underperforms its reduced range, or consolidated AISC exceeds guidance as grades, by-product credits or project execution weaken. Lower silver and gold prices or permitting delays would further reduce cash generation and defer value from the pyrite circuit, tailings reprocessing and Nevada restart opportunities. Base CaseCentral scenario $23.5355% Matches the consensus meanHecla delivers within revised 2026 guidance of 15.1-16.1 million silver ounces and $12.50-$13.50 per ounce consolidated silver AISC, while Keno Hill remains below commercial-production status and organic projects progress without material schedule acceleration. Strong liquidity and the absence of senior-note debt support continued investment, but project execution and metals-price volatility constrain conviction. Bull CaseUpside scenario $32.0021% Silver production finishes near the upper end of revised 2026 guidance, Lucky Friday sustains improved grade and throughput, Keno Hill stabilizes, and engineering and permitting advance the Greens Creek pyrite circuit toward its targeted late-2027 to first-half-2028 production window. Continued high-grade exploration results at Keno Hill and Midas would add strategic optionality. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |