New York, Jan 26, 2026, 20:19 (ET) — Market closed
- HL ended at $29.97, slipping 5.8% after a volatile session that saw prices fluctuate between $28.83 and $34.24
- Hecla will sell its Casa Berardi mine to Orezone for as much as $593 million, with the deal set to close in Q1 2026
- Hecla projected silver production for 2026 between 15.1 and 16.5 million ounces and earmarked a record $55 million for exploration
Hecla Mining Company shares dropped 5.8%, ending Monday at $29.97 following a volatile session. Investors grappled with news of an asset sale and updated production forecasts. The stock fluctuated between $28.83 and $34.24, with roughly 53.7 million shares traded. (Zacks)
The timing feels off. Silver has surged past $100 an ounce, while gold has hit record highs, sparking rapid, volatile moves in miners. “It is difficult to see what really forces this market to roll over,” said City Index analyst Fawad Razaqzada on the bullion rally. (CME Group)
Hecla announced it will sell its Casa Berardi mine in Quebec to Orezone Gold for up to $593 million. The deal includes $160 million in cash at closing and roughly 65.7 million Orezone shares, which Hecla values at about $112 million as of the announcement. In addition, there’s $80 million in deferred cash and a potential $241 million tied to future milestones. (Business Wire)
Hecla released preliminary production figures for 2025 and issued 2026 guidance, signaling lower output and higher spending. The company reported 2025 silver production at 17.0 million ounces and projects 2026 silver output between 15.1 million and 16.5 million ounces, citing declining grades at Greens Creek. Gold production guidance stands at 134,000 to 146,000 ounces. Silver all-in sustaining costs (AISC), which include sustaining capital and factor in by-product credits, are forecast at $15.00 to $16.25 per ounce. Capital expenditures are expected to range from $255 million to $279 million, with a record $55 million earmarked for exploration and pre-development. (SEC)
A recent Form 8-K stated that the production and financial figures are preliminary and may be revised following management and auditor review. The filing also mentioned that Hecla held an Investor Day in New York and uploaded presentation materials to its website, providing investors with more detailed information to model costs and production amid sharp metal-price fluctuations. (SEC)
Silver’s jump pushed the entire sector up briefly before pulling it back down just as fast. Early Monday trading saw First Majestic Silver and Pan American Silver rally alongside the surge in bullion prices. (Barron’s)
Macro factors dominate this week. The Federal Reserve wraps up its Jan. 27–28 meeting, with the policy decision set for Wednesday at 2:00 p.m. ET. Chair Jerome Powell will hold a press conference at 2:30 p.m. ET — both events likely to influence the dollar and interest-rate expectations that impact gold and silver prices. (Federal Reserve)
There’s risk the deal won’t close. Orezone flagged that its purchase of Hecla Quebec — including the Casa Berardi mine and nearby Quebec exploration projects — hinges on certain conditions. The value tied up in shares and contingent payments could shift with market swings, permit approvals, and operational outcomes. For Hecla shareholders, “up to $593 million” isn’t guaranteed cash just yet. (Orezone)
Hecla’s next big date is coming up fast. The company will speak at TD Cowen’s 17th Annual Global Mining Conference on Thursday, Jan. 29 at 3:00 p.m. ET in Toronto. Investors will have the chance to grill management on the Casa Berardi exit, 2026 cost projections, and the outlook for its silver-heavy portfolio. (Hecla)
