Key Highlights

● Hecla Mining (HL) closed at $17.01 on Monday, down 6.49% from $18.19, as silver slid with the wider metals complex.

● Volume reached about 39.7 million shares, well above Friday's roughly 22.1 million, according to exchange data on the session.

● Hecla signed a $500 million senior secured revolving Credit Facility maturing in 2030 on September 16, replacing an earlier agreement.

● Second-quarter silver output was 4.2 million ounces, and full-year 2026 silver guidance is 15.1 million to 16.1 million ounces.

Hecla Mining (NYSE:HL) closed at $17.01 on Monday, September 28, down 6.49% from $18.19 on Friday, as a sharp fall in silver prices spread to the mining stocks. About 39.7 million shares traded, compared with roughly 22.1 million on Friday, per exchange data.

Silver Leads the Metals Lower

Spot silver fell about 4.3% to near $61.53 an ounce, according to market data, while December gold futures lost $152.80 to $4,168.40. Treasury yields surged to multi-year highs, with the 10-year at its highest since 2007 and the 30-year at its highest since 2004. When safe Government Bonds pay more, stocks that trade on future Earnings usually feel it first. Silver also has a large industrial side, so higher borrowing costs can cloud the outlook for Manufacturing demand.

A New Credit Line, Not New Debt

Hecla signed a $500 million senior secured revolving credit facility on September 16, with Bank of America (NYSE:BAC) as administrative agent. A revolver is a flexible line of credit that a company can draw on as needed. The facility matures in 2030, includes an optional $100 million increase and replaces the credit agreement dated 2022. The company said proceeds can fund working capital, capital spending and general purposes.

The facility was disclosed in SEC filings earlier in the month, and no link between it and Monday's slide has been established. The wider sector fell just as hard.

What Hecla's Mines Delivered

In the second quarter Hecla produced 4.2 million ounces of silver and 14,000 ounces of gold, on Revenue of $334 million and Net Income of $118 million. Greens Creek made 2.1 million ounces of silver, Lucky Friday 1.5 million and Keno Hill 0.6 million. It ended the period with $483 million in cash and no debt, excluding finance leases, after redeeming $263 million in senior notes.

For 2026 Hecla guides to 15.1 million to 16.1 million ounces of silver and 51,000 to 55,000 ounces of gold, with silver all-in sustaining costs of $12.50 to $13.50 an ounce. Greens Creek is guided to 8.0 million to 8.3 million ounces and Lucky Friday to 4.9 million to 5.2 million, while Keno Hill's range was lowered to 2.2 million to 2.6 million. Capital spending is planned at $208 million to $223 million.

The Wider Market

The session ended with the S&P 500 down 59.72 points at 7,683.69, the Dow down 347.11 points at 51,481.51 and the Nasdaq Composite down 248.34 points at 26,820.38, with eight of the 11 S&P 500 sectors lower.

What to Watch for Hecla Mining

Silver will likely set the tone, and silver is following bond yields and the dollar. Investors will watch the third-quarter production update, and whether Keno Hill's ramp-up matches the lowered guidance.

The data docket runs Tuesday with JOLTS and consumer confidence, Wednesday with PCE inflation, Thursday with ISM manufacturing and Friday with the September jobs report. A hotter reading could extend Monday's slide, while softer numbers could ease it.