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8-K ·Filed Nov 3, 2026

HL

HECLA MINING CO/DE/
MIXED
Impact 6/10
Horizonmonths Processed6d 23h ago SEC0001193125-26-445747
8-K Item 2.02: Earnings release
Actionable Insight ◆ Mixed

Keno Hill's permit-driven throughput suppression is a multi-year headwind that will materially reduce silver production from that asset starting Q4 2026 and into 2027. Monitor Q4 results for the actual impact on consolidated production and costs, and watch for any updates on the license amendment timeline or alternative tailings solutions.

DirectionMixed
Confidencehigh
Horizonmonths

How the stock moved after the report

NEUTRAL VIEWSTOCK BELOW ENTRY AT T+1
Entry
$14.95
T+0 close · Nov 3, 2026 · via day close
Latest settled
−3.34%
T+1 · $14.45
vs SPY
+1.06%
α at T+1
Next horizon
T+5
in 13h
  1. T+0 · Nov 4 $14.95entry
  2. T+1 · 5d ago −3.34%α +1.06% · $14.45
  3. T+4 · todayOpen
  4. T+5 · in 13h Pending
  5. T+20 · in 23d Pending
  6. T+60 · in 3mo Pending

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Executive Summary

Hecla reported Q3 2026 revenue of $395M (above $340.2M consensus) and EPS of $0.22 (above $0.15 consensus), driven by record free cash flow of $151M and a strengthened balance sheet with $692M cash. However, Keno Hill faces a significant operational setback: mill throughput will be suppressed to ~300 tpd starting Q4 2026, with further cuts in January 2027, due to tailings storage permit constraints, and license amendments are not expected until mid-2029. Guidance was raised for silver production (low end to 15.3M oz) and cash cost/AISC improved, but total capital guidance was lowered to $198-$214M.

Key Financial Metrics

EPS
$0.22
est $0.15 · +46.7%
Revenue
$394.8M
est $340.2M · +16.1%
Rating
strong beat
Free Cash Flow
$151.2M

Key Facts

  • Q3 2026 revenue $394.8M, up 18% QoQ from $333.9M; income from continuing ops $149.6M ($0.22/share) vs $117.9M ($0.18) in Q2
  • Record quarterly free cash flow from continuing ops of $151.2M; cash and equivalents rose 43% QoQ to $692M
  • Keno Hill mill throughput to be suppressed to ~300 tpd in Q4 2026, further cuts from Jan 2027, due to tailings storage permit limits; license amendments not expected until ~mid-2029
  • 2026 silver production guidance low end raised to 15.3M oz (from 15.1M); cash cost guidance improved to ($4.75)-($4.25)/oz; AISC guidance improved to $11.50-$12.50/oz
  • Total capital investment guidance lowered to $198-$214M from $208-$223M
  • New director Dale Andres appointed to the Board
  • Quarterly dividend of $0.00375 per common share declared

Financial Impact

Q3 revenue $394.8M vs consensus $340.2M; EPS $0.22 vs consensus $0.15; record FCF $151.2M; cash $692M

revenueepsfree cash flowcash balancesilver production guidancecapital expenditure guidance

Segment Breakdown

Segment
Greens Creek
Lucky Friday
Keno Hill

Risk Factors

  • Keno Hill throughput suppression could last until mid-2029, materially reducing silver production from that mine
  • Lower capital investment guidance may slow growth projects at Greens Creek and Keno Hill
  • Metal price volatility (silver, gold, zinc, lead) directly impacts revenue and cash flow

Investment Themes

Materials & Mining

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001193125-26-445747
Document: hl-20261103.htm0001193125-26-445747
Document: 0001193125-26-445747-index-headers.html0001193125-26-445747
Document: 0001193125-26-445747-index.html0001193125-26-445747
Document: 0001193125-26-445747.txt0001193125-26-445747
8-K Data (Synthetic)0001193125-26-445747

Track record

11 reports on HL

Performance horizon

The track record builds as more bullish or bearish reports settle.

Filters
  1. Nov 10, 2026today 424B5 Bearish 5/10 Entry $14.32 Now $14.29 +0.21% settles Nov 18
  2. Nov 10, 2026today 8-K Neutral 4/10 Entry $14.70 Now $14.29 −2.79% settles Nov 18
  3. Nov 10, 2026today SC 13G Neutral 3/10 Entry $15.39 Now $14.29 −7.15% settles Nov 17
  4. Nov 4, 20265d ago 3 Neutral 2/10 Entry $14.45 Now $14.29 −1.11% settles Nov 12
  5. Nov 3, 20266d ago 8-K Mixed 6/10 Viewing Entry $14.95 Now $14.29 −4.41% settles Nov 11
  6. Oct 20, 202621d ago Institutional Cluster Bullish 4/10 Entry $15.14 to $14.62 Now $14.29 −5.61% ▼ −3.43% −2.99% vs SPY
  7. Aug 4, 202614w ago 8-K Mixed 5/10 Entry $16.54 to $18.10 Now $14.29 −13.60% ▲ +9.43% +9.08% vs SPY
  8. Jun 23, 202620w ago Institutional Cluster Mixed 4/10 Entry $15.07 to $15.40 Now $14.29 −5.18% ▲ +2.19% +1.18% vs SPY
  9. May 22, 202624w ago 8-K Neutral 2/10 Entry $67.30 to $66.11 Now $14.29 −78.77% ▼ −1.77% −3.44% vs SPY
  10. May 5, 202627w ago 8-K Mixed 5/10 Entry $65.07 to $72.00 Now $14.29 −78.04% ▲ +10.65% +9.52% vs SPY
Showing 10 of 11

US Market Status

Market Closed · Opens Wed (< 1m)

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Report published Nov 3, 2026