New York, Jan 12, 2026, 13:27 EST — Regular session.
- Hecla Mining shares jumped roughly 9% after silver hit a fresh all-time high
- The move followed a broad rally in precious metals fueled by risk-off demand
- Next up: watch silver’s momentum and Hecla’s investor day on Jan. 26, with the Fed meeting not far behind
Hecla Mining Co (HL) shares jumped roughly 9%, reaching about $24.5 in early afternoon trading Monday. The stock hit a session peak close to $24.9. 1
The rally unfolded as silver hit a fresh record high, with investors flocking to precious metals amid wavering risk appetite. Michael Haigh, global head of commodities research at Societe Generale, said, “Elevated uncertainty plays directly into the gold market,” and noted the rally’s backdrop doesn’t look set to fade soon. Meanwhile, Ned Naylor-Leyland, fund manager at Jupiter Asset Management, pointed out that silver can “really run” when money pours in, given its smaller market size. 2
Silver can be purchased in several ways—directly, through futures contracts set for later delivery, via exchange-traded funds, or by buying shares in miners like Hecla. These methods can intensify short-term trading flows. Reuters reported that the iShares Silver Trust, the biggest silver ETF, holds roughly 529 million ounces of the metal, highlighting how quickly investment demand can impact prices. 3
The move wasn’t isolated. Shares of Coeur Mining, First Majestic Silver, and Pan American Silver also climbed, alongside a U.S.-listed silver miners ETF that gained ground.
Hecla touts itself as the biggest primary silver miner across the U.S. and Canada, running operations in Alaska, Idaho, Quebec, and Yukon. The company also extracts gold, lead, and zinc. 4
Hecla has an investor day set for Jan. 26 in New York City, with a webcast kicking off at 12:30 p.m. ET, according to its event schedule. 5
Traders are watching closely to see if silver continues its momentum or shifts into a choppy pattern. Given the metal’s big daily swings, miner stocks tend to act like a leveraged mirror of silver—though they don’t always move in sync.
Downside risks are evident too. Should silver pull back as risk appetite calms, miners could quickly lose their gains. Meanwhile, company-specific problems — like rising costs, ore quality, or operational disruptions — might further drive a wedge between the metal’s price and the shares.
The next key dates are the Jan. 26 investor day and the Fed’s policy meeting on Jan. 27–28. For now, silver prices continue to carry most of the weight for HL.
