HL // Hecla Mining Company

DES <GO> NYSE CIK 0000719413 ↗

Materials • Mining & Quarrying of Nonmetallic Minerals (No Fuels)

$14.45 ▼ -0.47 (-3.15%)

MKT CAP: $9.71B • VOL: 38.36M

52W L $12 52W H $34

ALTMAN Z

6.95 SAFE

PIOTROSKI

9 / 9

HL // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 65/100 [C] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C

RQD CONFIDENCE

65 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Fair / Balanced Risk-Reward

01 MASSIVE / SEC XBRL

Forensic Fundamentals

16 / 20

STRONG

FCF +200% vs NI +200% • ROIC-WACC +5.1% • Z 6.95

02 OPRA GEX + SEC 13F

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

14 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

13 / 20

SOLID

20 BASE - 7 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

Why did HL's Whale & Options Flow & Insider Conviction sub-score just flash a warning? Enter your email to unlock the full 5-Pillar Rating Breakdown + get instant alerts whenever HL is Upgraded or Downgraded.

SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON HL)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 82/100 Z-SCORE: +2.38σ

HL Accounting Gap: Net Income (+220%) Outpaced OCF (+157.8%) With +54% Working-Capital Build

CASH CONVERSION GAP

+62.2% (NI vs OCF)

RECEIVABLES / WC BLOAT

+54.0% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on Hecla Mining Company (HL) exposes a +62.2% Cash Conversion Gap as YoY Net Income growth (+220.0%) diverged from Operating Cash Flow growth (+157.8%). Non-cash current assets and receivables expanded +54.0% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

HL // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -24.92%▼ SUPPORT BREAKDOWN

2026-10-30O $13.73H $13.79L $13.18C $13.53VOL 29.89M

RES: $21.92SUP: $13.73SMA50: $17.71SMA200: $18.65

HL // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

ACCUMULATE CONVICTION: 61/100

BEAR 0

100 BULL

Hecla Mining Company (HL) exhibits 43.7% gross margins and 14.8% return on invested capital within Materials (Mining & Quarrying of Nonmetallic Minerals (No Fuels)), balanced against a 13.5x enterprise multiple and 7.2% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 43.7% gross profitability converts into 36.2% operating margin and 14.8% ROIC, outpacing sector cost of capital.

ROIC: 14.8% // GM: 43.7%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +23.1% paired with 3.20% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +23.1% // FCF YLD: 3.20%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 6.95 and Piotroski F-Score of 9/9 indicate low near-term refinancing stress.

ALTMAN Z: 6.95 // F-SCORE: 9/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 30.2x trailing P/E (25.4x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 30.2x // EV/EBITDA: 13.5x

02. Options Skew & Event Volatility Risk

Options market prices a ±7.2% implied move with a 1.06 put/call ratio around $14.00 max pain.

IMPL MOVE: ±7.2% // P/C: 1.06

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Mining & Quarrying of Nonmetallic Minerals (No Fuels) require continuous execution to defend 22.6% net margins.

NET MARGIN: 22.6% // D/E: 0.16x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 25.4x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.10).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 30.2x

FORWARD P/E 25.4x

EV / EBITDA 13.5x

FCF YIELD 3.20%

GROSS MARGIN 43.7%

OPERATING MARGIN 36.2%

NET MARGIN 22.6%

ROIC % 14.8%

REV GROWTH YOY +23.1%

DILUTED EPS TTM $0.48

DEBT / EQUITY 0.16x

DIVIDEND YIELD 0.11%

RSI-14 MOMENTUM 31.9

5Y EQUITY BETA 1.10

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // HLPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $13.22

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for HL & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

HL VS LIN

MARGINS ROIC VALUATION

HL VS SCCO

MARGINS ROIC VALUATION

HL VS NEM

MARGINS ROIC VALUATION

HL VS RIO

MARGINS ROIC VALUATION