Hecla Mining Co Surges on Silver Demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 19 2025
0mins
Should l Buy HL?
Source: SeekingAlpha
Hecla Mining Co saw a price increase of 5.54%, crossing above its 5-day SMA amid positive market conditions.
The surge is attributed to increased demand for silver, particularly after its designation as a critical mineral, which has heightened investor interest in the mining sector.
This trend suggests potential for further growth as Hecla Mining continues to expand its resource base, positioning itself favorably in the evolving market landscape.
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Analyst Views on HL
Wall Street analysts forecast HL stock price to fall
7 Analyst Rating
2 Buy
4 Hold
1 Sell
Hold
Current: 24.540
Low
16.00
Averages
23.93
High
36.50
Current: 24.540
Low
16.00
Averages
23.93
High
36.50
About HL
Hecla Mining Company is a silver producer in the United States and Canada. The Company discovers, acquires and develops mines and other mineral interests and produces and markets concentrates containing silver, gold, lead, zinc and copper; carbon material containing silver and gold, and unrefined dore containing silver and gold. The Company's segments include Greens Creek, Lucky Friday, Keno Hill and Casa Berardi. The Greens Creek operation is located on Admiralty Island, near Juneau, Alaska. The Greens Creek ore body contains silver, zinc, gold and lead. The Lucky Friday mine is a deep underground silver, lead, and zinc mine located in the Coeur d’Alene Mining District in northern Idaho. The Casa Berardi mine is an underground/open-pit gold mine located in western Quebec. It owns 100% of the Keno Hill Silver Project, which is located within the Keno Hill Silver District in Canada’s Yukon Territory. The Company also owns a number of exploration and pre-development projects.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Abitibiwinni Calls for Fair Transition in Hecla-Orezone Sale
- Indigenous Rights Protection: The Abitibiwinni First Nation is urging Hecla Mining and Orezone to ensure that the sale of Hecla's subsidiary and Casa Berardi Mine respects their Aboriginal rights, emphasizing that this transition must align with current economic and environmental realities.
- Agreement Breakdown Risk: Hecla's refusal to incorporate the sharp rise in gold prices into the Impacts and Benefits Agreement has undermined the foundation of its partnership with Abitibiwinni, potentially affecting future collaboration and development.
- Ecological Protection Initiative: Abitibiwinni plans to establish protected areas around the Casa Berardi mine to safeguard the culturally significant and declining woodland caribou population, insisting that both companies support this initiative and that no further exploration occurs without their informed consent.
- Call for Dialogue and Cooperation: Abitibiwinni is requesting that Hecla and Orezone engage in good-faith discussions promptly to restore fairness in their relationship regarding mining operations and promote responsible sustainable development.
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- Historic Drill Discoveries: Americore Resources uncovered five historic drill holes at its Trinity Silver Project in Nevada, with Hole SC-4 returning 145.98 g/t silver, revealing potentially significant resources that were previously unaccounted for, which could substantially enhance the existing 36 million-ounce silver equivalent resource estimate.
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- Indigenous Rights Protection: The Abitibiwinni First Nation is urging Hecla Mining and Orezone to ensure that the sale of Hecla's subsidiary and Casa Berardi Mine respects their Aboriginal rights, emphasizing that this transition must align with current economic and environmental realities.
- Agreement Breakdown Risk: Hecla's refusal to incorporate the sharp rise in gold prices into the Impacts and Benefits Agreement has undermined the foundation of its partnership with Abitibiwinni, potentially affecting future collaboration and development.
- Ecological Protection Initiative: Abitibiwinni plans to establish protected areas around the Casa Berardi mine to safeguard the culturally significant and declining woodland caribou population, insisting that both companies support this initiative and that no further exploration occurs without their informed consent.
- Call for Dialogue and Cooperation: Abitibiwinni is requesting that Hecla and Orezone engage in good-faith discussions promptly to restore fairness in their relationship regarding mining operations and promote responsible sustainable development.
See More
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Performance Highlight: The ETF experienced a significant recovery, achieving a remarkable 141% increase during a 27-of-28-week winning streak since last April.
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Silver Market Faces Sixth Year of Structural Deficit
- Market Deficit Intensifies: The silver market is projected to face a structural deficit of 67 million ounces in 2026, as industrial consumption continues to outpace mine supply, indicating strong demand that could drive prices higher.
- Price Forecast Upgrade: J.P. Morgan anticipates silver prices averaging $81 per ounce in 2026, more than doubling from 2025, reflecting heightened demand and supply constraints, which may attract more investor interest in related stocks.
- Historical Data Reevaluation: Americore Resources has uncovered five historic drill holes at its Trinity Silver Project in Nevada, revealing previously unreported silver resources, with Hole SC-4 returning 145.98 g/t silver, potentially significantly enhancing the company's resource estimates.
- Strategic Investment and Expansion: Americore plans to validate resources through historical data assessment and new drilling, while also considering monetizing approximately 400,000 ounces of surface stockpiles, which is expected to generate near-term revenue to support future exploration activities.
See More
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- Market Imbalance: The silver market is projected to face a structural deficit of 67 million ounces in 2026, as industrial consumption continues to outpace mine supply, driving average silver prices to $81 per ounce, more than double the 2025 average, indicating strong market demand for silver.
- Historic Drill Discoveries: Americore Resources uncovered five historic drill holes at its Trinity Silver Project in Nevada, with Hole SC-4 returning 145.98 g/t silver, revealing potentially significant resources that were previously unaccounted for, which could substantially enhance the existing 36 million-ounce silver equivalent resource estimate.
- Strategic Mineral Listing: The U.S. government's recent decision to add silver to its Critical Minerals list further tightens supply chains, especially as China controls an estimated 70% of global refined silver supply, enhancing the strategic significance of companies like Americore.
- Future Plans: Americore is set to conduct a new mineral resource estimate targeted for Q2 2026, alongside plans to twin historic drill holes for data verification, which is expected to generate new revenue sources while advancing the evaluation of historic surface stockpiles containing approximately 400,000 ounces of silver in oxide and 365,000 ounces in sulfide materials.
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Opportunity for Fund Managers: Last year provided a significant opportunity for skilled fund managers to demonstrate their capabilities in navigating market challenges.
Market Conditions: The financial landscape presented unique conditions that allowed for strategic investment decisions and potential gains.
Performance Evaluation: The year served as a benchmark for assessing the effectiveness and decision-making skills of fund managers.
Investor Expectations: Investors were keenly observing how fund managers adapted to the evolving market, influencing future investment strategies.
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- Tariff Policy Shift: The U.S. Supreme Court struck down Trump's tariff policy, stating he exceeded his authority under the 1977 International Emergency Economic Powers Act (IEEPA), prompting Trump to raise global tariffs from 10% to 15%, which adds to market uncertainty.
- Dollar Index Decline: Following Trump's tariff announcement, the U.S. Dollar Index (DXY) fell 0.1%, leading to increased demand for precious metals like gold, which contributed to the price recovery.
- Mining Stocks Rise: Shares of gold miners Newmont Corp. (NEM) and Barrick Gold (B) increased by 1%, while silver miners Pan American Silver Corp. (PAAS) and First Majestic (AG) gained 1% and 2% respectively, despite retail sentiment remaining in bearish territory.
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