With Hecla Mining Stock Sliding, Have You Assessed The Risk?
Hecla Mining (HL) stock is down 25.7% in 21 trading days. The recent slide reflects concerns around softer 2026 production guidance and higher costs, but sharp drops like this often raise a tougher question: is the weakness temporary, or a sign of deeper cracks in the story?
Before judging its downturn reslience, let’s look at where Hecla Mining stands today.
- Size: Hecla Mining is a $16 Bil company with $1.2 Bil in revenue currently trading at $23.64.
- Fundamentals: Last 12 month revenue growth of 45.6% and operating margin of 30.5%.
- Liquidity: Has Debt to Equity ratio of 0.02 and Cash to Assets ratio of 0.04
- Valuation: Hecla Mining stock is currently trading at P/E multiple of 79.4 and P/EBIT multiple of 43.9
- Has returned (median) 38.1% within a year following sharp dips since 2010. See HL Dip Buy Analysis.
These metrics point to a Strong operational performance, alongside Very High valuation – making the stock Relatively Expensive. For details, see Buy or Sell HL Stock
That brings us to the key consideration for investors worried about this fall: how resilient is HL stock if markets turn south? This is where our downturn resilience framework comes in. Suppose HL stock falls another 20-30% to $17 – can investors comfortably hold on? Turns out, the stock has fared much worse than the S&P 500 index during various economic downturns, based on (a) how much the stock fell and, (b) how quickly it recovered. Below, we dive deeper into each such downturn.
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2022 Inflation Shock
- HL stock fell 62.9% from a high of $9.31 on 2 June 2021 to $3.45 on 27 September 2022 vs. a peak-to-trough decline of 25.4% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 8 September 2025
- Since then, the stock increased to a high of $31.81 on 25 January 2026 , and currently trades at $23.64
| HL | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -62.9% | -25.4% |
| Time to Full Recovery | 1,077 days | 464 days |
2020 Covid Pandemic
- HL stock fell 53.1% from a high of $3.43 on 6 February 2020 to $1.61 on 18 March 2020 vs. a peak-to-trough decline of 33.9% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 20 May 2020
| HL | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -53.1% | -33.9% |
| Time to Full Recovery | 63 days | 148 days |
2018 Correction
- HL stock fell 81.3% from a high of $6.72 on 6 February 2017 to $1.26 on 28 May 2019 vs. a peak-to-trough decline of 19.8% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 4 January 2021
| HL | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -81.2% | -19.8% |
| Time to Full Recovery | 587 days | 120 days |
2008 Global Financial Crisis
- HL stock fell 91.9% from a high of $13.03 on 16 April 2008 to $1.05 on 12 November 2008 vs. a peak-to-trough decline of 56.8% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 8 October 2025
| HL | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -91.9% | -56.8% |
| Time to Full Recovery | 6,174 days | 1,480 days |
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