Insight Guru flags Hecla valuation premium despite middling peer metrics
CDE•Valuation premium versus peers
Insight Guru analysis flagged Hecla Mining’s premium valuation versus silver-mining peers despite mid-pack operating metrics.
Hecla traded near $16.85 with a P/E of 33.8, the highest in the peer set; Pan American Silver was cited at 17.1.
Operating performance and balance sheet
Operating performance trailed some rivals: 74% LTM revenue growth versus Coeur Mining’s 117%; 47% operating margin versus Fortuna’s 49%.
The premium was tied to balance-sheet strength, including $483 million cash and no long-term debt outside capital leases.
Output guidance and longer-term watchpoints
Key watchpoints were 2026 silver output guidance of 15.10 million–16.10 million ounces, with Keno Hill ramp-up not expected until roughly 2029.
