Hecla Mining Company reported significant financial performance for the first quarter of 2026, with total sales reaching $411.4 million, a 100% increase from $205.3 million in the same period of 2025. The company generated a gross profit of $253.3 million, compared to $68.7 million a year earlier. Income from continuing operations was $164.7 million, up from $24.3 million in the prior year, while net income applicable to common stockholders was a loss of $19.2 million, primarily due to a loss from discontinued operations related to the sale of its Hecla Quebec subsidiary.
The substantial increase in revenue was driven by higher metal prices and increased sales volumes. Silver sales alone accounted for $295.6 million, compared to $118.0 million in the previous year, reflecting a significant rise in realized prices. The company produced 3.9 million ounces of silver during the quarter, slightly down from 4.1 million ounces in the first quarter of 2025. The increase in sales was also supported by the successful completion of the sale of Hecla Quebec to Orezone Gold Corporation for a total undiscounted consideration of up to $601.7 million, which was finalized on March 25, 2026.
Operationally, Hecla Mining continued to focus on its core silver assets, with capital investments totaling $39.3 million across its operations. The company reported a gross profit of $24.3 million from its Keno Hill operation, a significant improvement from $1.0 million in the same quarter of 2025, driven by higher realized prices despite lower sales volumes. The Lucky Friday and Greens Creek operations also reported increased gross profits, contributing to the overall strong financial results.
In terms of strategic developments, Hecla Mining's decision to divest its Hecla Quebec subsidiary marks a shift in its operational focus, allowing the company to concentrate on its silver production in more favorable jurisdictions. The cash proceeds from the sale are expected to enhance the company's financial flexibility and capacity for future investments. The company ended the quarter with $587.6 million in cash and cash equivalents, a significant increase from $241.6 million at the end of 2025, positioning it well for upcoming capital expenditures and operational needs.
Looking ahead, Hecla Mining remains optimistic about its growth prospects, particularly in the silver market, which is expected to benefit from increasing demand driven by green technology. The company plans to utilize the proceeds from the Hecla Quebec sale for debt reduction and to strengthen its balance sheet, which will support its strategic growth initiatives. However, the company also acknowledges the potential risks associated with fluctuating metal prices and operational challenges, particularly at its Keno Hill operation, which is still ramping up production.
About HECLA MINING CO/DE/
Hecla Mining Company is a long-established precious and base metals producer focused on discovering, developing, and operating mines in North America. Its core activities include extracting and selling silver, gold, lead, zinc, and copper concentrates, as well as unrefined bullion. The company emphasizes safety, environmental responsibility, operational efficiency, and strategic growth through exploration, acquisitions, and resource expansion across its key assets in Alaska, Idaho, Quebec, and Yukon.
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