HL
Hecla Mining Company
NYSE: HL · BASIC MATERIALS · OTHER PRECIOUS METALS & MINING
$15.29
+2.00% today
Updated 2026-06-12
Market cap
$10.26B
P/E ratio
22.16
P/S ratio
6.29x
EPS (TTM)
$0.69
Dividend yield
0.10%
52W range
$5 – $34
Volume
14.0M
Hecla Mining Company (HL) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed HL price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$15.29
Today
Analyst consensus
$22.25
+45.52% · 12M
2030 Base
$13.63
-10.86% future
NPV today
$8.29
@ 11% WACC
9 analysts:
2 Buy6 Hold1 Sell
Management guidance
Hecla Mining has not provided explicit revenue targets through 2030 in recent guidance. However, management is executing a strategic pivot toward silver-focused operations, doubling exploration/pre-development spending to $55M in 2026, and has sold non-core assets (Casa Berardi, Quebec operations for $593M) to reduce debt and fund growth. CEO messaging emphasizes silver supply deficit positioning and capacity expansion at flagship Greens Creek mine, implying production and revenue growth trajectory without specific dollar targets disclosed.
Sources: Management guidance, analyst consensus, sector analysismedium confidence
HL · Hecla Mining Company · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$6.67
NPV today: $4.05
Base case (2030)
$13.63
NPV today: $8.29
Bull case (2030)
$24.08
NPV today: $14.64
WallStSmart.com
HL financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $1.4B | $1.5B | $1.7B | $1.9B | $2.1B | $2.3B |
| Revenue growth | 53.0% | 7.0% | 10.5% | 12.5% | 11.6% | 10.9% |
| Net margin | — | 52.1% | 54.0% | 56.2% | 58.0% | 59.7% |
| EPS | $0.46 | $1.18 | $1.35 | $1.58 | $1.82 | $2.08 |
| Diluted shares | — | 671M | 672M | 672M | 672M | 672M |
| Net debt | — | $266.98M | $252.79M | $236.83M | $219.01M | $199.25M |
| P/S multiple | — | 4.0x | 4.0x | 4.0x | 4.0x | 4.0x |
| Implied price (base) | — | $8.66 | $9.62 | $10.90 | $12.23 | $13.63 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $2.3B | $2.3B | $2.3B |
| P/S multiple | 2.0x | 4.0x | 7.0x |
| Diluted shares | 672M | 672M | 672M |
| Net debt | $199.25M | $199.25M | $199.25M |
| Implied P/E † | 3x | 7x | 12x |
| 2030 Price | $6.67 | $13.63 | $24.08 |
| NPV @ 11% | $4.05 | $8.29 | $14.64 |
† Implied P/E: Multiples remain elevated across all three scenarios because HL is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $13.63 base case
HL catalysts and risks
Growth catalysts
+ Silver supply deficit entering 6th consecutive year; industrial demand surge from AI/data center cooling and energy transition applications
+ Greens Creek Mine capacity expansion and tailings recovery optimization (EnviroGold Phase 2 demonstrating 98%+ silver recovery rates)
+ Debt reduction ($263M senior notes redeemed) improving financial flexibility for M&A, exploration, and dividends
+ Keno Hill development and other exploration upside; doubled 2026 exploration budget signals management confidence in resource growth
+ Precious metals price tailwinds; gold/silver at multi-year highs supporting margin expansion
Key risks
- Commodity price volatility: 50%+ of revenue linked to silver/gold spot prices; macroeconomic slowdown could depress metals demand and prices
- Rising labor and energy costs impacting mine economics and margins, particularly in Alaska (Greens Creek) and Mexico
- Mining permitting and geopolitical risk; Casa Berardi sale realized lower proceeds; future M&A execution risk
- Valuation: P/E 30x elevated vs. sector; DCF analysis suggests 34% overvaluation at current $17.18 price; sentiment vulnerable to earnings misses
- Revenue guidance volatility: FY2026E consensus down 8.96% YoY to $1.36B (vs. $1.50B FY2025E) — analyst downgrades signal caution on near-term production ramp
Methodology · Hecla Mining Company 2030 stock forecast model
Hecla Mining Company 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 9 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (0% cumulative for HL by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($199.25M by 2030) |
| 3. Time value | NPV calculated using 11% WACC (CAPM: beta 1.26) |
| 4. Multiple framework | P/S compresses with scale: bear 2.0x / base 4.0x / bull 7.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 20, 2026.
HL price target FAQ
What is the HL price target for 2030?
WallStSmart's Hecla Mining Company 2030 base case is $13.63 per share, with a bull case of $24.08 and bear case of $6.67. The NPV of the base case discounted to today at 11% WACC is $8.29.
How is the Hecla Mining Company 2030 stock forecast calculated?
The HL 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the HL price target account for dilution?
Hecla Mining Company is projected to grow diluted share count from 671M to 672M by 2030 (a 0% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 0%.
What is the analyst consensus on HL stock?
9 analysts cover HL with an average 12-month price target of $22.25. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.