The revenue miss vs consensus may pressure the stock in the near term, but the record free cash flow, debt-free balance sheet, and reiterated guidance suggest underlying strength. Monitor next quarter's revenue trajectory and silver price realization for confirmation.
Price Chart
Executive Summary
Hecla Mining reported Q1 2026 continuing operations revenue of $411M, missing consensus of $432.4M by 4.85%, but delivered record free cash flow of $144M, strengthened its balance sheet to debt-free status, and reiterated full-year guidance. The revenue miss is tempered by strong operational cash flow, higher realized silver prices, and the completion of the Casa Berardi sale.
Key Financial Metrics
Key Facts
- Revenue from continuing operations $411.4M missed consensus of $432.4M (4.85% miss)
- Record quarterly free cash flow from continuing operations of $143.7M vs. $99.8M prior quarter
- Net income from continuing operations $164.7M ($0.25 per share) vs. $24.3M ($0.04) in Q1 2025
- Total debt reduced to $0 after redeeming $263M senior notes in April 2026; cash balance $588M
- Production and cost guidance for 2026 reiterated
Financial Impact
Revenue miss of ~$21M vs consensus; offset by $144M record FCF and debt elimination
Risk Factors
- Revenue miss indicates potential demand or pricing headwinds if silver prices decline
- Keno Hill production delays due to grade and power constraints
- Capex ramp-up in Q2-Q3 could pressure near-term free cash flow
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-206729 |
| Document: hl-20260505.htm | 0001193125-26-206729 |
| Document: 0001193125-26-206729-index-headers.html | 0001193125-26-206729 |
| Document: 0001193125-26-206729-index.html | 0001193125-26-206729 |
| Document: 0001193125-26-206729.txt | 0001193125-26-206729 |
| 8-K Data (Synthetic) | 0001193125-26-206729 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 5d ago | Institutional Cluster | $15.14 $14.11 | ▼ −6.80% | ▼ −5.62% | $13.94 (−7.93%) |
Aug 4, 2026 11w ago | 8-K | $16.54 $15.86 | ▼ −4.11% | ▼ −3.95% | $13.94 (−15.73%) |
Jun 23, 2026 17w ago | Institutional Cluster | $15.07 $14.52 | ▼ −3.65% | ▼ −3.60% | $13.94 (−7.51%) |
May 22, 2026 22w ago | 8-K | $67.30 $67.26 | ▼ −0.06% | ▼ −0.65% | $13.94 (−79.29%) |
May 5, 2026 24w ago | 8-K | $65.07 $68.08 | ▲ +4.63% | ▲ +4.96% | $13.94 (−78.58%) |
Apr 10, 2026 28w ago | DEFA14A | $72.11 $72.11 | · 0.00% | ▼ −1.21% | $13.94 (−80.67%) |
US Market Status
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