Hecla Mining to Report Q3 Results: What's in the Cards for the Stock?

Hecla Mining HL is expected to report a significant improvement when it reports its third-quarter 2025 results on Nov. 5, before market open.

The Zacks Consensus Estimate for HL’s revenues for the quarter is $315.60 million, indicating year-over-year growth of 28.77%. The estimate for HL’s earnings per share for the quarter has moved up 22% to 11 cents over the past 60 days. The estimate indicates a 267% surge from the year-ago quarter’s earnings per share of three cents.

Hecla Mining’s Earnings Surprise History

Hecla Mining’s bottom line beat the Zacks Consensus Estimate in each of the trailing four quarters. Over the period, the company has recorded an average earnings surprise of 35.83%. This is shown in the chart below.

What the Zacks Model Unveils for Hecla Mining

Our proven model does not conclusively predict an earnings beat for Hecla Mining this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, but that is not the case here.

Earnings ESP: The Earnings ESP for HL is 0.00%. You can uncover the best stocks before they are reported with our Earnings ESP Filter.

Zacks Rank: Hecla Mining currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Factors Likely to Have Shaped HL’s Q3 Performance

In the second quarter of 2025, Hecla Mining produced 4.5 million ounces of silver and 45,895 ounces of gold, along with 14,560 tons of zinc, 18479 tons of zinc and 499 tons of copper.  

Silver production inched up 1% as higher output at Greens Creek and Lucky Friday was offset by lower volumes at Casa Berardi and Keno Hill. Gold production was up 23% attributed to higher production at Greens Creek and Casa Berardi.  We expect the ongoing momentum at Greens Creek to have continued in the third quarter. 

Hecla Mining had earlier cautioned that the third-quarter output at the Lucky Friday mine would be the lowest production period for the year. A key infrastructure project carried out to increase the cooling capacity restricted hoist availability, thereby impacting production.

The third-quarter silver production at Lucky mine is expected to fall below the levels of 1.3 million ounces of silver produced in the second quarter of 2025 and the first quarter of 2025. However, we expect it to come in higher than the year-ago quarter’s silver output of 1.18 million ounces. 

We expect the mine’s third-quarter 2025 lead output to be lower than the 8,829 tons produced in the second quarter and yet be higher than the 7,662 tons produced in the third quarter of 2024. The third-quarter 2025 zinc output is expected to be lower than 3,911 tons produced in the second quarter of 2025 but higher than 3,528 tons in the third quarter of 2024. 

At Keno Hill, the planned maintenance downtime in August at Yukon Energy Corp. "YEC) is expected to have lowered its silver output by 90,000 ounces in the third quarter. Despite this, the mine’s production is likely to come in higher than last year’s 597,230 ounces. 

Meanwhile, Casa Berardi is transitioning from a combined underground and surface operation to a surface-only operation. Hecla Mining plans to mine gold from the 160 pit by the end of 2025. This is expected to impact the year-over-year comparison for silver production. Casa Berardi had produced 5,578 ounces of silver in the third quarter of 2024.

While operational challenges are likely to have constrained output sequentially, overall production is still anticipated to have been higher on a year-over-year basis.

Even if production comes in lower than the last year's quarter, Hecla Mining stands to benefit from a significant uplift in metal prices. During the quarter, silver prices averaged around $40 per ounce, up 34% year over year. Gold prices averaged around $3,500 per ounce, up 41% year over year. Copper prices also strengthened 14% in the quarter. However, lead and zinc prices were down 9% and 2%, respectively. 

Overall, the sharp rise in gold, silver and copper prices is expected to boost Hecla Mining’s results in the quarter.

HL’s Price Performance & Valuation

Hecla Mining stock has surged 162.2% so far this year compared with the industry’s 102.4% growth.

Other Stocks to Consider

Here are some other Basic Materials stocks, which according to our model, have the right combination of elements to post an earnings beat in their upcoming releases. 

International Flavors & Fragrances Inc. IFF, scheduled to report third-quarter 2025 results on Nov. 4, has an Earnings ESP of +1.81% and a Zacks Rank of 3. 

The Zacks Consensus Estimate for IFF’s sales is pegged at $2.63 billion, indicating a 10.2% dip from the year-ago reported figure. The estimate for earnings is pegged at $1.02 per share, indicating a year-over-year dip of 1.9%. International Flavors has a trailing four-quarter average earnings surprise of 8.3%. 

Triple Flag Precious Metals Corp. TFPM, scheduled to release third-quarter earnings on Nov. 4, has an Earnings ESP of +2.33% and a Zacks Rank of 1.

Triple Flag Precious’ earnings for the third quarter are pegged at 22 cents per share, indicating year-over-year growth of 46.7%. Triple Flag Precious has a trailing four-quarter average earnings surprise of 8.1%. 

CF Industries CF, slated to release third-quarter 2025 earnings on Nov. 5, has an Earnings ESP of +10.05% and carries a Zacks Rank of 3 at present.   

The Zacks Consensus Estimate for CF Industries’ third-quarter earnings is pegged at $1.91 per share. The estimate indicates a 23% year-over-year increase. CF Industries has a trailing four-quarter average earnings surprise of 25.3%.

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This article originally published on Zacks Investment Research (zacks.com).

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