Hecla Mining Boosts 2025 Silver Output 5%; Shares Up 191.6%, P/E 35.9x
Hecla Mining produced 17.0 million ounces silver in 2025, a 5% increase led by Greens Creek (8.7m oz; +3%), Lucky Friday (5.3m oz) and Keno Hill (3.02m oz; +9%). Shares have gained 191.6% over six months while trading at a forward P/E of 35.9x versus industry’s 18.9x.
1. 2025 Silver Production Growth
Hecla Mining reported 17.0 million ounces of silver production in 2025, marking a 5% year-over-year increase. This growth underscores the company’s capacity to leverage stable operations and strong silver prices to boost output across its portfolio.
2. Mine-Level Contributions
The Greens Creek mine led output with 8.7 million ounces (+3%), while Lucky Friday delivered 5.3 million ounces driven by higher milled grades and throughput. Keno Hill achieved 3.02 million ounces (+9%) supported by improved power reliability and milling rates.
3. Share Performance and Valuation
Hecla shares have surged 191.6% over the past six months, outperforming the mining industry’s 125.3% rise. The stock trades at a forward P/E of 35.9x, well above the industry average of 18.9x, reflecting market expectations of continued growth.
4. Project Developments and Outlook
The surface cooling project at Lucky Friday is slated for completion in H1 2026, enabling access to deeper, higher-grade ore and extending mine life. Ongoing investments at Keno Hill and exploration activities aim to sustain production momentum in the coming years.