Outlook
- Hecla sees 2026 consolidated silver production at 15.1-16.1 mln oz, lower upper end from prior
- Company lowers 2026 silver cash cost guidance to ($4.00)-($3.75)/oz, AISC to $12.50-$13.50/oz
- Hecla raises lower end of 2026 capital investment guidance to $208 mln, upper end unchanged at $223 mln
Overview
- US-Canada silver miner's Q2 revenue fell 19% from prior quarter on lower metal prices
- Q2 adjusted EBITDA declined 25% sequentially; free cash flow more than doubled yr/yr
- Company ended Q2 debt free with record cash position; Lucky Friday set silver output record
Result Drivers
- Lower metal prices - Co said revenue and profitability declined from prior qtr mainly due to lower realized silver and gold prices and a declining price environment
- Shipment timing - Co attributed lower sales volumes to timing of shipments, mainly at Greens Creek, resulting in a build-up of silver concentrate inventory
- Lucky Friday output - Record silver production at Lucky Friday, driven by a 31% higher milled grade, contributed to higher consolidated silver output
Key details and analyst coverage
HL•
