Why Hecla Mining Stock Crashed 52% From 52-Week High in March

By Neha Chamaria – Apr 8, 2026 at 11:33AM ESTKey PointsHecla recently sold a non-core asset and plans to reduce debt while doubling growth spending.The silver giant entered 2026 with record profits and solid cash flows.Shares of Hecla Mining (HL +1.47%) plummeted 25.2% in March, according to data provided by S&P Global Market Intelligence, hitting 2026 lows of $16.25 per share. That decline represented a staggering 52% retreat from its 52-week high, a peak it reached less than two months ago. Hecla closed an asset sale last month and plans to use the proceeds to repay debt. While the move bolsters its financials, the underlying prices of precious metals remain the primary driver of Hecla's stock price. Image source: Getty Images. Why did Hecla Mining stock drop so much? Because silver as an asset does not pay interest, it often loses appeal compared to bonds when inflation remains high. With the Federal Reserve keeping interest rates unchanged because of stubborn inflation, silver plunged in March, including a more than 10% single-day drop on March 19. Gold struggled as well, despite the Iran war. Surging Treasury yields, a stronger U.S. dollar, and stubborn inflation overshadowed gold's appeal as a safe-haven asset, prompting investors to lock in gains following a record-breaking rally in the preceding months. In the last quarter, nearly 60% of Hecla's revenue came from silver, and 29% from gold. In 2024, Hecla alone accounted for 37% of total U.S. silver production, leaving it highly sensitive to fluctuations in precious metal prices. ExpandNYSE: HLHecla MiningToday's Change(1.47%) $0.28Current Price$19.64Key Data PointsMarket Cap$13BDay's Range$19.42 - $21.0452wk Range$4.51 - $34.17Volume302KAvg Vol24MGross Margin40.87%Dividend Yield0.08% Hecla's sell-off in particular intensified in March because the company had recently issued lower silver production guidance for 2026. Following a successful 2025, where silver production climbed 5% to 17 million ounces, the miner now anticipates a pullback to between 15.1 million and 16.5 million ounces this year.

Is Hecla Mining a good stock to buy now? In March, Hecla sold its subsidiary that owns the Casa Berardi gold mine in Quebec, Canada to a subsidiary of Orezone Gold for a total value of around $593 million, including an upfront cash payment of $160 million and shares in Orezone worth around $112 million, and $321 million in deferred cash. Following the divestiture, Hecla has sharpened its focus on primary silver assets, specifically the Tier 1 Greens Creek operation and the ongoing ramp-up at Keno Hill. The move follows a banner 2025, during which Hecla's revenue surged 53% to a record $1.4 billion, driven by higher realized precious metals and zinc prices. Its gross profit tripled as the Keno Hill mine achieved its first full year of profitability, and net income jumped ninefold to a quarterly record of $321 million. Hecla ended the year with $310 in free cash flow. With all of that cash and the proceeds from the Quebec sale, Hecla plans to repay a portion of its debt and nearly double its exploration and pre-development spending to $55 million in 2026. Hecla Mining stock is rebounding in April in tandem with silver prices, but I wouldn't rule out more volatility ahead. Regardless, Hecla's dominance in silver and strengthening financials make it one of the best silver stocks to buy on dips. Read NextMar 31, 2026 •By Lee SamahaHere's Why Shares in Hecla Mining Surged Higher TodayMar 27, 2026 •By Lee SamahaHere's Why Hecla Mining Crushed the Market TodayMar 20, 2026 •By Eric VolkmanWhy Hecla Mining Stock Withered This WeekMar 19, 2026 •By Neha ChamariaWhy Has Hecla Mining Stock Plunged 50% From 52-Week High?Mar 11, 2026 •By Rich SmithWhy Hecla Mining Dropped Again TodayMar 10, 2026 •By Lee SamahaHere's Why Shares in Hecla Mining Popped Higher TodayAbout the AuthorNeha Chamaria is a contributing Motley Fool stock market analyst covering energy, industrials, utilities, and materials sectors, with a focus on dividend stocks. Prior to The Motley Fool, Neha worked on portfolio valuations for hedge funds at HSBC and authored articles as a journalist. She holds a master’s degree in finance from ICFAI and an MBA from Symbiosis University, along with certifications from the National Stock Exchange of India. Neha was honored with an all-India gold medal for her M.S. in Finance and was the first woman in her family to pursue a professional career.TMFNehaChamariaX@nehamschamariaStocks MentionedHecla MiningNYSE: HL$19.66(+1.58%)+$0.31*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.