Hecla Mining Company's stock surged 5.92% in pre-market trading on Wednesday, following the release of its first quarter 2026 financial results which showed robust performance driven by higher metals prices and significant balance sheet improvements.

The company reported revenue of $411.43 million, representing a 13% increase from the prior quarter and a 100% rise year-over-year, primarily fueled by significantly higher realized silver and gold prices. Hecla achieved record free cash flow of $143.66 million from continuing operations and transitioned to a net cash position with $588 million in cash against $266 million in debt at quarter-end.

Subsequent to the quarter, Hecla redeemed its remaining $263 million of 7.25% Senior Notes, leaving the company with no long-term debt and an undrawn $225 million revolving credit facility. The strong operational performance, highlighted by adjusted EBITDA of $265 million and net income from continuing operations of $165 million, contributed to positive investor sentiment despite a reported net loss that included a non-cash write-down related to the Casa Berardi sale.