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Hecla Mining vice president of exploration Kurt Allen exercised 21,782 performance rights on common stock, converting them into 21,782 shares at no exercise price. To cover tax liabilities on this vesting, 5,541 shares of common stock were withheld at $24.63 per share.
After these transactions, Allen directly holds 68,460 common shares and 94,852 unvested restricted stock units, for a total of 163,312 common shares reported as owned. The performance rights were originally granted in June 2023 based on total shareholder return targets for the 2023–2025 period.
Hecla Mining Company vice president Robert Denis Brown reported equity compensation activity. On performance rights awarded in June 2023, he exercised derivative rights into 25,050 shares of common stock at a stated price of $0.00 per share, settling the award based on total shareholder return performance.
To cover tax liabilities on the 25,050 vested performance rights, 13,402 common shares were withheld at $24.63 per share. Following these transactions, Brown directly owned 465,647 shares of common stock, reflecting both the newly issued shares and the shares withheld for taxes.
Hecla Mining senior vice president and COO Russell Douglas Lawlar exercised performance-based stock rights and had shares withheld for taxes. On June 21, 2023 he had been granted 29,609 performance rights tied to total shareholder return for the period from January 1, 2023 to December 31, 2025. Based on the company’s shareholder return ranking, his award vested at 100% of target, resulting in 29,609 common shares being issued at a reference price of $5.05 per share. Of these, 14,377 shares of common stock were withheld at a price of $24.63 per share to cover tax liabilities, leaving him with 196,446 directly held common shares and 127,652 unvested restricted stock units.
Hecla Mining Company submitted a Form 144 notice reporting proposed sales of Common Stock by affiliated holders under director and employee stock plans. The filing lists multiple previously issued awards with dated grant records, including share counts such as 55,892 (07/09/2020) and 36,117 (06/25/2019).
Hecla Mining Company reported a planned board transition focused on its audit oversight. Long-serving director Stephen F. Ralbovsky retired from the Board effective February 19, 2026, after serving as Chair of the Audit Committee and as a member of two other key board committees. The company noted that he did not report any disagreement with Hecla on its operations, policies, or practices.
Effective the same date, director Jill Satre was appointed Chair of the Audit Committee. She has served on the Audit Committee since joining the Board in October 2024 and brings experience leading internal audit, corporate compliance, enterprise risk management, and internal controls at TC Energy Corporation, as well as prior partnership experience at PricewaterhouseCoopers.
Hecla Mining Company filed its annual report outlining operations, risks and a major portfolio shift. The company agreed to sell its Casa Berardi mine owner, Hecla Quebec Inc., to Orezone Gold for up to $593 million in cash, shares, deferred and contingent payments, with closing targeted in the first quarter of 2026, subject to approvals.
Hecla reported volatile performance, moving from a net loss of $84.2 million in 2023 to net income of $35.8 million in 2024 and $321.7 million in 2025, helped by sharply higher realized silver and gold prices. As of June 30, 2025, non‑affiliate common stock market value was $3.94 billion, with 663.1 million shares outstanding, rising to 670.3 million by February 12, 2026.
The business is organized around four mines—Greens Creek, Lucky Friday, Keno Hill and Casa Berardi—with Casa Berardi contributing 23% of 2025 metals sales. The report details extensive financial, operational, climate, environmental, permitting and geopolitical risks, and highlights heavy reliance on a few large customers and counterparties, as well as complex reclamation obligations, particularly at Keno Hill.
Hecla Mining Company reported a record 2025 performance with over $1.4 billion in revenue, up 53% from 2024, and net income applicable to common stockholders of $321 million, or $0.49 per share. Adjusted EBITDA reached $670 million, nearly double the prior year, while cash provided by operating activities rose to $563 million and free cash flow climbed to $310 million.
Net debt fell to $34 million as total debt dropped to $276 million and the net debt to adjusted EBITDA ratio improved to 0.1x from 1.6x. Consolidated silver production increased to 17.0 million ounces and gold production to 151 thousand ounces, both above prior year levels. The company declared a quarterly dividend of $0.00375 per common share and $0.875 per Series B preferred share.
For 2026, Hecla guides consolidated silver production of 15.1–16.5 million ounces and gold production of 65.0–72.0 thousand ounces, reflecting the expected first-quarter 2026 sale of the Casa Berardi mine for total consideration of up to $593 million. Silver cash cost guidance after by-product credits is ($1.50)–($1.25) per ounce and all-in sustaining cost is $15.00–$16.25 per ounce. The company plans $216–$238 million of total capital investment and $55 million of exploration and pre-development spending in 2026.
Hecla Mining Company released detailed year-end 2025 mineral reserve and resource figures and highlighted strong exploration results at Greens Creek, Keno Hill and Midas. Proven and probable reserves total about 231 million ounces of silver, plus gold, lead and zinc across multiple North American assets.
The company spent $25.2 million on exploration and corporate development and $2.5 million on pre-development in 2025, and plans to lift exploration and pre-development spending to $55 million in 2026. Management aims to more than replace annual reserve depletion and maintain what it describes as industry-leading reserve mine life.
The reserve and resource totals currently include Hecla Quebec Inc. and the Casa Berardi mine, which are subject to a pending sale to Orezone Gold Corporation previously announced for up to $593 million. If that transaction closes, those associated reserves and resources would no longer belong to Hecla.
State Street Corporation filed a Schedule 13G reporting beneficial ownership of Hecla Mining common stock. As of 12/31/2025, it beneficially owned 32,276,284 shares, representing 4.8% of the outstanding common stock.
State Street reported 0 shares with sole voting or dispositive power, 30,202,611 shares with shared voting power, and 32,276,284 shares with shared dispositive power. It certified that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Hecla Mining.
Hecla Mining Company entered into a definitive agreement to sell its wholly owned subsidiary Hecla Quebec Inc., which owns the Casa Berardi operation and a portfolio of exploration properties in Quebec, to Orezone Gold Corporation for up to $593 million in total consideration. The transaction is expected to close in the first quarter of 2026, subject to certain conditions being satisfied. Hecla also issued a news release about the transaction, which is included as an exhibit along with the full agreement outlining detailed terms, representations and warranties.