Hecla Rides Silver Above $60 as Cash Flow Hits Records

Hecla Mining shares have climbed from the mid-$14s to around $16.85 as of Friday, riding a silver rally that pushed the metal near $61.81 an ounce. The advance caps a strong stretch for the largest US silver producer following its second-quarter report.

While Q2 revenue of $333.9 million missed consensus, the underlying operations impressed: operating cash flow jumped 61% year over year to $175 million, free cash flow doubled to $136 million, and silver output rose 8% sequentially to 4.2 million ounces, led by record production at the Lucky Friday mine. Consolidated silver cash costs fell to negative $8.10 per ounce.

Analysts remain measured, with Scotiabank trimming its price target to $21 from $25 on softer gold assumptions while keeping a more constructive view on silver. The company is now effectively debt-free.