What Hecla Mining (HL)’s Casa Berardi Sale and Silver Pivot Means For Shareholders

• In recent days, Hecla Mining has drawn attention ahead of its February 17, 2026 earnings release, as investors weigh analysts’ expectations for US$0.14 in EPS and US$358.50 million in revenue alongside the company’s plan to sell its Casa Berardi asset and refocus on higher-margin silver operations.
• At the same time, persistent global silver supply shortfalls, heightened options-market volatility, and Hecla’s decision to nearly double exploration and pre-development spending to US$55 million highlight how company-specific moves are intersecting with tightening industry fundamentals.
• Next, we’ll examine how Hecla’s Casa Berardi sale and renewed silver focus may reshape its investment narrative and future risk-reward.

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Hecla Mining Investment Narrative Recap

To own Hecla, you generally have to believe in its leverage to silver and the value of its long‑life North American assets. The near term catalyst is the February 17 earnings report, where guidance on silver volumes, costs and Casa Berardi’s sale terms could reset expectations. The biggest current risk is that heightened spending and asset reshuffling fail to translate into stronger per share results. The latest news does not yet resolve that concern, but it sharpens the focus on it.

The most relevant recent announcement here is Hecla’s plan to nearly double exploration and pre‑development spending to US$55 million in 2026. That decision matters because it sits right at the intersection of the tight silver supply backdrop and the upcoming earnings call, where investors will be looking for reassurance that higher spending is paired with disciplined capital returns and credible reserve replacement, rather than an open‑ended drain on cash while options volatility and share price swings remain elevated.

Yet beneath the silver shortage story, investors should be aware of how rising regulatory and legacy asset costs could quietly reshape Hecla’s long term economics and capital needs…

Read the full narrative on Hecla Mining (it’s free!)

Hecla Mining’s narrative projects $954.2 million revenue and $210.3 million earnings by 2028. This implies revenue declining by 3.4% per year and an earnings increase of about $110.6 million from $99.7 million today.

Uncover how Hecla Mining’s forecasts yield a $15.90 fair value, a 30% downside to its current price.

Exploring Other Perspectives

While consensus ties Hecla’s upside to higher silver and reserve replacement, the most bearish analysts saw revenue sliding to about US$932.7 million by 2028 and still expected earnings of roughly US$211.8 million, showing how differently you and other investors might view the same stock once this latest Casa Berardi and earnings news is fully reflected.

Explore 10 other fair value estimates on Hecla Mining – why the stock might be worth as much as 62% more than the current price!

Build Your Own Hecla Mining Narrative

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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