Hecla Mining Company will be added to the S&P MidCap 400 index, a move that will take effect at the opening of trading on December 22, 2025. The inclusion places the company among U.S. equities with market capitalizations between $8 billion and $22.7 billion and signals that the S&P Index Committee views Hecla as a leading silver‑focused producer with a strong track record of operational excellence.
The decision follows a series of impressive financial results. In the third quarter of 2025, Hecla reported record revenue of $409.5 million, up 35% from the $298.5 million earned in the prior quarter. Net income rose to $11.9 million in Q4 2024, a jump from $1.8 million in Q3 2024, while operating margin expanded to 29.5% from 27.8% the year earlier. Silver cash costs fell to a negative $2.03 per ounce, and all‑in sustaining costs (AISC) dropped to $11.01 per ounce, underscoring the company’s ability to generate free cash flow while maintaining a favorable cost structure.
Hecla’s market capitalization was approximately $10.5 billion as of early December 2025, comfortably within the index’s eligibility range. The addition is expected to broaden the company’s institutional investor base and improve trading liquidity, reinforcing confidence in its silver‑centric strategy and its ongoing investment in the Keno Hill project, which is projected to reach commercial production around 2027.
Rob Krcmarov, President and CEO, said the inclusion “reflects the significant progress we have made in building a world‑class silver‑focused mining company. The fact that the S&P Index Committee used its discretion to include Hecla as the only precious metals producer in the index speaks to our upward trajectory.” He added that the company remains focused on deleveraging, free‑cash‑flow generation, and expanding its exploration portfolio.
The move positions Hecla as a key player in the mid‑cap space, providing a platform for continued growth and reinforcing its competitive advantage as the largest silver producer in the United States and Canada.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.