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Hecla Mining: Initiation Of Coverage- A Surging North American Silver Powerhouse With Record EBITDA & Free Cash Flow!

Hecla Mining Company reported a strong first quarter of 2026, marked by significant financial improvements and operational achievements. The company achieved revenue from continuing operations exceeding $410 million, representing a 13% increase from the prior quarter and double the revenue compared to Q1 2025. Adjusted EBITDA reached a record $265 million, while consolidated free cash flow hit a record $144 million with each mine generating positive free cash flow. Silver production totaled 3.9 million ounces for the quarter, about 3% higher than the preceding quarter. Cash costs were nearly negative $3 per ounce, and all-in sustaining costs remained below $10 per ounce, reflecting Hecla’s position as a low-cost producer driven by substantial by-product credits primarily from gold, zinc, and lead.