# Hecla Mining Company (HL) — Stock CV

Hecla Mining Company is a $11.4B materials company. Revenue grew 51.2% over the last year, it keeps 21¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 34.3× earnings — near the lowest of its own history.

> Hecla Mining Co produces and explores silver, gold, zinc, and other metals. The operating business segments are Greens Creek, Lucky Friday, Keno Hill, and Casa Berardi.

## Identity

- **Ticker**: HL
- **Sector**: Basic Materials
- **Industry**: Mining & Quarrying Of Nonmetallic Minerals (No Fuels)
- **Headquarters**: COEUR D'ALENE, ID
- **Employees**: 1 865
- **Website**: https://www.hecla.com
- **Market cap**: $11.4B
- **Last price**: $17.05
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $1.60B
- **Net income**: $334M
- **Free cash flow**: $516M
- **Net cash**: $301M
- **P/E**: 34.3
- **Revenue growth (YoY)**: 51.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 69 |
| Growth | 70 |
| Profitability | 74 |
| Health | 100 |
| Quality | 68 |
| Moat | 16 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +51.2% YoY
- [x] Profitable — $334M TTM
- [x] Profit growing — +798.6% YoY
- [x] Generates cash — $516M TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $11.4B market cap
- [ ] Not printing shares — +24.4% shares over ~5y
- [ ] Proven track record — 4/10 profitable years
- [x] Financially stable — Altman Z 14.4 — safe
- [x] Pays a dividend — yield 0.09%
- [x] Valuation not extreme — P/E 34.3

## Experience (career milestones)

- **FY2025** — Revenue crossed $1B: $1.42B for the year
- **FY2025** — Became debt-free: cash now exceeds total debt
- **FY2025** — Best year on record: $322M net income
- **FY2016** — First recorded profitable year: $69.5M net income
- **1986** — Hecla opened its new corporate office north of Coeur d'Alene and Arthur Brown became president
- **1984** — Hecla merged with Ranchers Exploration and Development Corp
- **1979** — Griffith took over as president in 1979, and Hecla decided to sink a third shaft, "the Silver Shaft", at Lucky…
- **1967** — Hecla purchased 14% of Day Mines, Inc., becoming the largest stockholder
- **1966** — Hecla acquired the Morning Mine from Asarco
- **1948** — Hecla owned 50% of Sullivan, 63% of Polaris (now merged with Silver Summit)
- **1920** — Hecla acquired Federal Mining & Smelting Co.'s claims near Hecla, including the Tiger-Poorman
- **1915** — 1915, Hecla stock was listed on the New York Curb Exchange, and monthly dividends paid since March 1904, became…
- **1903** — McCarthy took over management in 1903, James R
- **1891** — Founded in 1891, it is the largest silver mining company in the United States and the 9th biggest mining company in…

## Strengths

- High gross margin (53.8%)
- Strongly profitable — 20.8% net margin
- Revenue growing 51.2% year over year
- Strong cash conversion — FCF is 32.2% of revenue
- Net cash position after subtracting debt from cash

## Watch-outs

- Loss-making in 6 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $807M | $35.1M | $111M |
| FY2022 | $719M | -$37.3M | -$59.5M |
| FY2023 | $720M | -$84.8M | -$148M |
| FY2024 | $930M | $35.8M | $3.79M |
| FY2025 | $1.42B | $322M | $310M |

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Source: https://stockcv.com/HL — derived from company filings; may be delayed or incomplete. Information, not investment advice.