How Does Hecla Mining Stock Stack Up Against Its Peers?
Hecla Mining’s (HL) stock has shown a mixed performance over the past year, outperforming some peers but trailing others in a dynamic mining market. A closer look reveals strong operating profitability but moderate free cash flow and growth, alongside a premium valuation. Limited upside may persist as market momentum favors those with superior growth or lower valuations as of March 10, 2026.
- HL’s 37.7% operating margin is robust, reflecting strong cost management from high-grade silver assets; FSM’s 38.7% indicates potent asset leverage.
- HL’s 53.0% revenue growth, propelled by strong silver prices and production gains, outpaced PAAS/FSM but trailed AG/CDE/SSRM, possibly due to major acquisitions by peers.
- HL’s 328.1% stock gain and 45.8 PE reflects investor belief in its silver focus and operational leverage, despite AG/CDE’s stronger returns.
Here’s how Hecla Mining stacks up across size, valuation, and profitability versus key peers.
| HL | PAAS | AG | CDE | SSRM | FSM | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 14.7 | 26.0 | 13.1 | 14.9 | 6.3 | 3.6 |
| Revenue ($ Bil) | 1.4 | 3.6 | 1.3 | 2.1 | 1.6 | 1.0 |
| PE Ratio | 45.8 | 26.6 | 75.9 | 25.4 | 15.9 | 12.5 |
| LTM Revenue Growth | 53.0% | 28.4% | 124.5% | 96.4% | 63.7% | 42.0% |
| LTM Operating Margin | 37.7% | 31.4% | 27.7% | 37.5% | 28.8% | 38.7% |
| LTM FCF Margin | 21.8% | 28.2% | 24.5% | 32.2% | 14.8% | 26.5% |
| 12M Market Return | 328.1% | 166.8% | 382.4% | 355.2% | 226.0% | 147.7% |
For more details on Hecla Mining, read Buy or Sell HL Stock. Below we compare HL’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| HL | 53.0% | 53.0% | 29.1% | 0.2% |
| PAAS | 28.4% | 28.4% | 21.7% | 55.0% |
| AG | 124.5% | 124.5% | -2.2% | -8.1% |
| CDE | 96.4% | 96.4% | 28.3% | 4.5% |
| SSRM | 63.7% | 63.7% | -30.2% | 24.3% |
| FSM | 42.0% | 39.8% | -19.6% | 23.6% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| HL | 37.7% | 37.7% | 18.4% | 5.4% |
| PAAS | 31.4% | 31.4% | 12.4% | 3.6% |
| AG | 27.7% | 27.7% | 1.0% | -9.8% |
| CDE | 37.5% | 37.5% | 20.4% | 1.9% |
| SSRM | 28.8% | 28.8% | -18.0% | 19.8% |
| FSM | 38.7% | 39.0% | 24.4% | 14.2% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
| HL | 45.8 | 38.9 | 85.1 | -34.6 |
| PAAS | 26.6 | 20.2 | 65.6 | -51.4 |
| AG | 75.9 | 48.4 | -15.9 | -12.9 |
| CDE | 25.4 | 18.5 | 38.0 | -10.8 |
| SSRM | 15.9 | 11.2 | -5.4 | -22.5 |
| FSM | 12.5 | 10.5 | 10.3 | -22.4 |
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