Hecla Mining Forecasts Lower 2026 Silver Output – But HL Stock Rises On Record Silver Rally

Hecla Mining expects slightly lower silver and gold output in 2026 due to weaker ore grades at key mines.

Hecla Mining (HL) said on Monday that it expects consolidated silver production of 15.1 to 16.5 million ounces and gold output of 134,000 to 146,000 ounces in full-year 2026, just below its 2025 output, when the company produced 17 million ounces of silver and 150,509 ounces of gold.

Hecla said the outlook reflects lower milled-grade expectations at the Greens Creek and Casa Berardi operations.

Despite the lower volumes, Hecla expects to maintain strong silver margins, with consolidated silver total cost of sales guided at $471 million. The company noted that sustained strength in metal prices could allow it to outperform this cost guidance.

HL shares jumped more than 7% in premarket trading and are set to open at their highest level since September 1980, lifted by silver’s record surge that pushed the precious metal above $110 an ounce for the first time.

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