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HECLA MINING CO/DE/

For the period ended Sep 30, 2025. Filed Nov 5, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 5, 2025

HL$14.74+2.0%Stored close · as of Nov 6, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30,2025

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to .

Commission File Number:1-8491

HECLA MINING COMPANY

(Exact Name of Registrant as Specified in its Charter)

Delaware77-0664171
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
6500 N. Mineral Drive, Suite 200Coeur d’Alene, Idaho83815-9408
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (208)769-4100

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTradingSymbol(s)Name of each exchange on which registered
Common Stock, par value $0.25 per shareHLNew York Stock Exchange
Series B Cumulative Convertible PreferredStock, par value $0.25 per shareHL-PBNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☑ No__

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No__

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☑Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No ☑

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

ClassShares Outstanding November 3, 2025
Common stock, par value$0.25 par value per share670,098,670

Form 10-Q

For the Quarter Ended September 30, 2025

INDEX*

Page
PART I.FINANCIAL INFORMATION3
Item 1.Financial Statements (Unaudited)3
Condensed Consolidated Statements of Operations and Comprehensive Income - Three Months Ended and Nine Months Ended September 30, 2025 and 20243
Condensed Consolidated Statements of Cash Flows - Nine Months Ended September 30, 2025 and 20244
Condensed Consolidated Balance Sheets - September 30, 2025 and December 31, 20245
Condensed Consolidated Statements of Changes in Stockholders' Equity – Three Months Ended and Nine Months Ended September 30, 2025 and 20246
Notes to Condensed Consolidated Financial Statements (unaudited)8
Forward-Looking Statements24
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations25
Overview25
Consolidated Results of Operations27
Reconciliation of Total Cost of Sales to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Cost, Before By-product Credits and All-In Sustaining Cost, After By-product Credits (non-GAAP)43
Financial Liquidity and Capital Resources54
Contractual Obligations, Contingent Liabilities and Commitments56
Critical Accounting Estimates56
Off-Balance Sheet Arrangements56
Guarantor Subsidiaries57
Item 3.Quantitative and Qualitative Disclosures About Market Risk60
Item 4.Controls and Procedures61
PART II.OTHER INFORMATION62
Item 1.Legal Proceedings62
Item 1A.Risk Factors62
Item 4.Mine Safety Disclosures63
Item 5.Other Information63
Item 6.Exhibits64
Signatures65
*Items 2 and 3 of Part II are omitted as they are not applicable.
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.