Hecla Mining Company reported record second quarter 2025 sales of $304 million, marking a 24% increase year-over-year. The company also achieved a record net income applicable to common shareholders of $57.7 million, or $0.09 per share, and a record adjusted EBITDA of $133 million.
Cash from operations surged to over $160 million, culminating in a record quarterly free cash flow of $104 million. These robust financial figures contributed to a substantial improvement in the company's net leverage ratio, which decreased to 0.7x from 1.5x in Q1 2025 and 2.7x a year prior.
Operationally, Greens Creek, the flagship asset, reported metal sales of $122 million, a 27.54% increase year-over-year, with a gross profit of $63 million and impressive negative cash costs and AISC. Lucky Friday achieved a new quarterly milling record of over 114,000 tons, maintaining silver production at 1.3 million ounces.
Keno Hill delivered its first positive free cash flow quarter under Hecla's ownership at $2.7 million, followed by another profitable quarter with a gross profit of $0.2 million. The company revised its production target for Keno Hill to 440 tonnes per day by 2028 to optimize returns. Casa Berardi saw metal sales increase by 44.04% to $85 million, with gold production rising 37% to over 28,000 ounces, and underground operations are expected to cease by mid-2025 as it transitions to a surface-only operation.
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