Analyst Consensus ?
ConsensusHold25 ratings
Bullish1040.0%
Neutral1352.0%
Bearish28.0%
Hecla Mining Company · HL · FY2026 Q2 · Calendar Q3 2026
Hecla Holds 2026 Guidance as Low-Cost Growth Projects Advance
Hecla’s Q2 narrative pairs a low-cost operating base and strong mine-level cash generation with a pipeline of incremental projects. The case depends on sustaining operating performance while managing metal-price exposure, permitting and project execution.
What drove HL's -4.1% move after FY2026 Q2 earnings?
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Reported After market closeNYSEBasic Materials
$10.04B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.18
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $367.2M
Revenue surprise
—
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-4.1%
Event window
SPY move
-0.2%
Same window
Abnormal move
-4.0%
Stock minus SPY
Volume
0.9×
Versus trailing sessions
Subsequent drift
+33.7%
Up to 20 sessions
HLSPY benchmark
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What drove HL's -4.1% move after FY2026 Q2 earnings?What changed in HL's guidance and outlook in FY2026 Q2?Give me the bull and bear case for HL after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Compared with the prior quarter’s record-performance emphasis, Q2 analysis highlights that revenue fell with lower metal prices and inventory-shipment timing. Management also pointed to strong mine-level free cash flow and tighter cost guidance.
Guidance delta
Management maintained 2026 production guidance and lowered AISC guidance; the transcript analysis describes overall guidance sentiment as maintained.
Key takeaways
- Management reported record free cash flow at Greens Creek and Lucky Friday, alongside a net cash position and no long-term debt.
- Lower metal prices and shipment timing weighed on revenue in the quarter.
- Management reaffirmed guidance and described low-capital projects and exploration as longer-term growth opportunities.
Management priorities
- Advance engineering and metallurgical work for the Greens Creek pyrite concentrate circuit and tailings reprocessing.
- Progress Keno Hill permitting and infrastructure work, with higher-tonnage plans tied to those steps.
- Restart Midas using the existing mill while continuing exploration across Nevada assets.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$14.95Current
$5Low
$17.66Average
$36.5High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 5, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Sep 16, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Jul 14, 2026 |
| HC Wainwright & Co. | Buy | Buy | Maintain | May 6, 2026 |
| Canaccord Genuity | Buy | Hold | Upgrade | Apr 29, 2026 |
| CIBC | Neutral | Neutral | Maintain | Jan 28, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jan 27, 2026 |
| Roth Capital | Neutral | Buy | Downgrade | Jul 1, 2025 |
| TD Securities | Hold | Hold | Maintain | May 5, 2025 |
| Roth MKM | Buy | Buy | Maintain | Feb 18, 2025 |
| National Bank Financial Inc | Outperform | Outperform | Maintain | Sep 19, 2023 |
| B. Riley Securities | Buy | Buy | Maintain | Aug 24, 2023 |
| Cantor Fitzgerald | Hold | Buy | Downgrade | May 12, 2023 |
| B. Riley FBR | Neutral | Neutral | Maintain | May 19, 2020 |
| H.C. Wainwright | Buy | Buy | Maintain | May 8, 2020 |
| B. Riley | Neutral | Neutral | Maintain | Nov 25, 2019 |
| Rodman & Renshaw | Buy | Buy | Maintain | Sep 6, 2016 |
| JP Morgan | Overweight | Neutral | Upgrade | Aug 9, 2016 |
| Deutsche Bank | Hold | Hold | Maintain | Aug 9, 2016 |
| Bernstein | Perform | Market Perform | Maintain | Jul 5, 2016 |
| FBR Capital | Market Perform | Market Perform | Maintain | Jan 28, 2016 |
| BB&T Capital | Hold | Buy | Downgrade | Jan 15, 2015 |
| Bank of America | Underperform | Neutral | Downgrade | Oct 15, 2014 |
| B of A Securities | Underperform | Neutral | Downgrade | Oct 15, 2014 |
| Cowen & Co. | Perform | Market Perform | Maintain | Jun 13, 2014 |
| Global Hunter Securities | Buy | Neutral | Upgrade | Mar 8, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $14.95. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Analyst unavailable | $22 | $20.82 | +47.2% | Aug 20, 2026 |
| Scotiabank | Analyst unavailable | $21 | $15.56 | +40.5% | Jul 14, 2026 |
| H.C. Wainwright | Analyst unavailable | $26.75 | $17.9 | +78.9% | May 6, 2026 |
| Canaccord Genuity | Dalton Baretto | $24 | $17.37 | +60.5% | Apr 29, 2026 |
| Roth Capital | Analyst unavailable | $13 | $22.55 | -13.0% | Feb 18, 2026 |
| H.C. Wainwright | Heiko Ihle | $36.5 | $27.95 | +144.1% | Jan 27, 2026 |
| Roth Capital | Joe Reagor | $16 | $29.97 | +7.0% | Jan 27, 2026 |
| BMO Capital | Kevin O'Halloran | $28 | $29.97 | +87.3% | Jan 27, 2026 |
| Scotiabank | Eric Winmill | $25 | $33.26 | +67.2% | Jan 26, 2026 |
| Canaccord Genuity | Analyst unavailable | $26.5 | $31.57 | +77.3% | Jan 23, 2026 |
| CIBC | Analyst unavailable | $16.5 | $14.72 | +10.4% | Nov 25, 2025 |
| CIBC | Cosmos Chiu | $15 | $12.54 | +0.3% | Oct 10, 2025 |
| Roth Capital | Analyst unavailable | $8.75 | $12.06 | -41.5% | Oct 3, 2025 |
| National Bank | Alex Terentiew | $7 | $6.01 | -53.2% | Jun 13, 2025 |
| TD Securities | Wayne Lam | $5 | $4.79 | -66.6% | May 5, 2025 |
| BMO Capital | Kevin O'Halloran | $5.5 | $4.54 | -63.2% | May 2, 2025 |
| B.Riley Financial | Adam Graf | $7 | $6.82 | -53.2% | Sep 16, 2024 |
| CIBC | Cosmos Chiu | $7.5 | $6.04 | -49.8% | May 22, 2024 |
| Cantor Fitzgerald | Mike Kozak | $6 | $5.47 | -59.9% | May 9, 2024 |
| Roth Capital | Joe Reagor | $6 | $5.44 | -59.9% | Apr 9, 2024 |
| Roth Capital | Joe Reagor | $4 | $4.03 | -73.2% | Sep 19, 2023 |
| BMO Capital | Analyst unavailable | $5 | $5.98 | -66.6% | Jan 13, 2023 |
| H.C. Wainwright | Heiko Ihle | $6.5 | $4.53 | -56.5% | Jul 30, 2022 |
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Start freeCompany context
Snapshot as of publicationHecla Mining Company, along with its subsidiaries, engages in the exploration, acquisition, development, and extraction of both precious and base metal resources across the United States and internationally. The company produces concentrates of silver, gold, lead, and zinc, as well as carbon material and doré, both of which contain silver and gold. These materials are then sold to custom smelters, metal traders, and third-party processors. Hecla holds full ownership stakes in several key mining operations: the Greens Creek mine in southeast Alaska's Admiralty Island; the Lucky Friday mine in northern Idaho; the Casa Berardi mine located in the Abitibi region of northwestern Quebec, Canada; and the San Sebastian mine in Durango, Mexico. Additionally, the company entirely owns the Fire Creek mine in Lander County, Nevada, and both the Hollister and Midas mines in Elko County, Nevada. Established in 1891, Hecla Mining Company's headquarters are located in Coeur d'Alene, Idaho.
Historical context
All HL earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| OC Owens Corning | FY2026 Q3 · Calendar Q4 2026 | -20.5% | +8.5% | Owens Corning posts resilient adjusted margins amid weak housing demand |
| IFF International Flavors & Fragrances Inc. | FY2026 Q3 · Calendar Q4 2026 | +2.1% | -4.9% | IFF lifts 2026 guidance, but Health & Biosciences remains a pressure point |
| HL-PB Hecla Mining Company | FY2026 Q3 · Calendar Q4 2026 | +54.0% | — | Hecla reports record Q3 cash flow and raises silver outlook |
| MLM Martin Marietta Materials, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +2.4% | Martin Marietta raises 2026 outlook as infrastructure demand holds |
| MOS The Mosaic Company | FY2026 Q3 · Calendar Q4 2026 | -1656.0% | +17.4% | Mosaic Q3: Cost Discipline Meets Sulfur and Phosphate Constraints |
| TX Ternium S.A. | FY2026 Q3 · Calendar Q4 2026 | -24.9% | -0.0% | Ternium: Mexico strength offsets Brazil and import risks |
Latest beats and misses
Who reports nextBeat on EPS
- MCDFY2026 Q3 · November 4, 2026+5.6% EPS+6.5% move
- SNFY2026 Q3 · November 4, 2026+23.2% EPS+4.1% move
- SWKFY2026 Q3 · November 4, 2026+49.0% EPS+13.1% move
- SKMFY2026 Q3 · November 4, 2026+4.0% EPS+2.5% move
- UNMAFY2026 Q3 · November 3, 2026+1.9% EPS+0.5% move
- UNMFY2026 Q3 · November 3, 2026+1.9% EPS-17.8% move
Missed on EPS
- TRMBFY2026 Q3 · November 4, 2026-0.2% EPS-17.3% move
- OCFY2026 Q3 · November 4, 2026-20.5% EPS+8.5% move
- OHIFY2026 Q3 · November 3, 2026-42.5% EPS+3.5% move
- MOSFY2026 Q3 · November 3, 2026-1656.0% EPS+17.4% move
- OVVFY2026 Q3 · November 3, 2026-2.0% EPS-5.1% move
- BSACFY2026 Q3 · October 30, 2026-20.0% EPS-3.0% move
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Sources
- Earnings call transcript and parsed analysis · 2026-08-05T22:08:48.868561+00:00
- FN2 earnings calendar · 2026-07-24T01:23:14.908973+00:00
- Polygon adjusted daily market bars · 2026-11-05T03:50:45.823046+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-05T03:50:45.820209+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-05. For educational purposes only; not investment advice.