DivestmentMay 5, 2026, 05:27 PM
Hecla Mining Q1 Net Loss $19.16M on Quebec Mine Divestment
AI Summary
Hecla Mining reported a net loss of $19.16 million for the first quarter of 2026, primarily driven by a $192.5 million loss on the sale of its Hecla Quebec Inc. subsidiary. This strategic divestment, completed on March 25, 2026, for a fair value of $385.7 million, aims to optimize the portfolio and focus on silver assets. Despite the loss from discontinued operations, the company's continuing operations showed strong performance with sales increasing to $411.4 million and net income from continuing operations rising to $164.7 million.
Key Highlights
- Hecla Mining completed the sale of Hecla Quebec Inc. for a fair value consideration of $385.7 million.
- Reported a net loss of $19.16 million for Q1 2026, primarily due to a $192.5 million loss on the disposal of Hecla Quebec.
- Sales from continuing operations increased to $411.4 million in Q1 2026 from $205.3 million in Q1 2025.
- Net income from continuing operations rose to $164.7 million in Q1 2026 from $24.3 million in Q1 2025.
- Cash provided by operating activities surged to $194.2 million in Q1 2026 from $35.7 million in Q1 2025.
- Cash and cash equivalents at period end reached $588.7 million, up from $24.8 million in Q1 2025.
- Greens Creek segment gross profit was $168.6 million, Lucky Friday $60.6 million, and Keno Hill $24.3 million.
- Silver sales totaled $295.6 million, Gold $57.0 million, Lead $22.3 million, and Zinc $36.9 million.