New York, Jan 26, 2026, 16:17 EST — Trading in after-hours session.
- Hecla Mining shares dropped in after-hours trading following the announcement of its deal to sell the Casa Berardi gold operation for up to $593 million.
- Hecla projected 2026 production will drop after a robust 2025, with both silver and gold output expected to decline.
- Traders are weighing the balance-sheet gains from the sale alongside the volatility in production and prices of precious metals.
Shares of Hecla Mining Company dropped roughly 6% in after-hours trading Monday, erasing earlier advances. The U.S. silver miner revealed a deal to divest its Casa Berardi gold asset and lowered its production forecast for 2026. The stock settled at $29.95, swinging between $34.24 and $29.83 amid heavy trading volume.
The timing couldn’t be more inconvenient. Precious metals are surging: gold has topped $5,000 an ounce, silver is holding above $100, and miners are back in focus for their market sensitivity. All this is unfolding just as investors prepare for the U.S. Federal Reserve’s meeting this week. (Reuters)
For Hecla, Monday’s news finally put concrete figures behind a strategy that until now had been mostly talk. The company is cutting back on gold and ramping up silver exposure, right as the market wrestles with whether current metal prices represent a new floor or just a spike.
Hecla announced it will offload the subsidiary owning Casa Berardi in Quebec to Orezone Gold for as much as $593 million. The deal includes $160 million in cash at closing, roughly 65.7 million Orezone shares, $80 million in deferred cash, and up to $241 million in contingent payments linked to production, permits, and gold prices. Closing is expected in the first quarter. Hecla said it will use the cash to cut debt and strengthen its balance sheet. “The sale of Hecla Quebec represents an important milestone,” CEO Rob Krcmarov said in the statement. (Business Wire)
Orezone has secured a $100 million streaming deal with Franco-Nevada to back its latest acquisition, Dow Jones Newswires reported. CEO Patrick Downey described the purchase as “a significant inflection point,” highlighting the addition of a cash-generating mine, the report noted. (MarketScreener)
Hecla earlier released preliminary full-year 2025 production numbers showing 17.0 million ounces of silver and 150,509 ounces of gold. For 2026, it projected silver output between 15.1 million and 16.5 million ounces, with gold coming in at 134,000 to 146,000 ounces. The company also outlined cost expectations, including an all-in sustaining cost of $15.00 to $16.25 per ounce of silver after by-product credits. Capital spending for 2026 is pegged at $255 million to $279 million. (Business Wire)
An SEC filing revealed that the guidance and other updates were included in an investor-day presentation held in New York on Monday, with the slides attached to the 8-K. (SEC)
U.S.-listed precious-metals miners showed varied results. Coeur Mining dropped roughly 2.5%, whereas Pan American Silver and First Majestic Silver edged up slightly.
Hecla’s shares swung sharply, caught between the appeal of the deal and its messy details. The sale talks promised balance-sheet improvement, yet a chunk of the headline price is tied up in Orezone stock and contingent payments that might not materialize on Hecla’s schedule.
There are other risks to watch. The Casa Berardi deal hasn’t yet met its closing conditions. Plus, Hecla’s 2026 outlook depends heavily on assumptions about grades, costs, and metal prices — all of which have been anything but stable recently.
Investors are now eyeing any guidance changes after Casa Berardi exits the portfolio, alongside updates on moving the Orezone deal toward a first-quarter close.
