Hecla Mining Company Q3 2025 Earnings Recap

Hecla Mining Company delivered exceptional Q3 2025 results, achieving record revenues of $410 million, a significant decrease in net leverage to 0.3x, and generating strong free cash flow from all producing assets.

Key Takeaways

• Record net income of $101 million and adjusted EBITDA of $196 million driven by strong silver and gold prices.
• Significant balance sheet improvement with an 83% reduction in net leverage from 1.8x to 0.3x, alongside elimination of over $15 million in annual interest expenses.
• Positive free cash flow from all four producing mines, totaling $90 million for the quarter, highlighting operational efficiency and robust cash generation.
• Continued investment in strategic growth projects, including completion of surface cooling at Lucky Friday and expansion initiatives at Greens Creek.
• Cost discipline maintained with all-in sustaining costs of $11.01 per silver ounce and silver margins at $31.57 per ounce.