HL Falls Below Insider Exit Price as New Buyer Steps In
Hecla Mining shares gapped down and fell 3.8% in recent trading, pushing the stock to $19.11 — below the $20.76–$20.97 per share that VP Patrick Malone received when he sold roughly $498,000 in open-m
HL Falls Below Insider Exit Price as New Buyer Steps In
NEW YORK, September 2 —
Hecla Mining Company (HL) shares have slid to $19.11, below the $20.76, $20.97 VP of Sustainability Patrick Malone collected in open-market sales on August 20, two weeks after a Q2 EPS miss of -4.5%. Susquehanna Fundamental Investments reportedly opened a new stake at that lower price, placing an institutional buyer on the opposite side of a recent insider exit.
- TTM revenue $1.74B, up 52.4% YoY; free cash flow $342M; $490M cash against effectively no debt.
- Malone sold 23,994 shares on August 20 at $20.76, $20.97, totaling approximately $498,136; zero insider purchases in the trailing 90 days.
What the Exit Timing Says
Hecla Mining, incorporated in 1891 in Coeur d'Alene, Idaho, mines silver and gold concentrates alongside lead and zinc, producing unrefined doré for custom smelters and metal traders across the United States, Canada, and Asian markets. Malone, Hecla's VP of Sustainability, sold 23,994 shares on August 20 at $20.76 to $20.97, clearing roughly $498,136 in proceeds, 16 days after the August 4, 2026 8-K disclosed a Q2 EPS miss of -4.5%. The sale sits inside a two-quarter miss streak that reversed prior accelerating beats; per filings, Malone was the sole open-market insider over the trailing 90 days, a concentration in a Sustainability role rather than C-suite.
Why Susquehanna Stepped In
The institutional case rests on Hecla's balance sheet and cash generation. Trailing twelve-month revenue reached $1.74 billion, up 52.4% year-over-year, while free cash flow came in at $342 million; the $490 million cash position against negligible debt provides a substantial liquidity cushion. The 61.4% gross margin is high for a basic-materials miner. Institutional investors already hold 77.5% of the float, and reported short interest is effectively nil.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| HL | $13.5B | 18.8x | +112.8% |
| CDE | $21.6B | 10.2x | +44.6% |
| PAAS | $21.6B | 11.1x | +46.9% |
| AG | $10.2B | 20.4x | +109.7% |
| KGC | $36.1B | 9.9x | +34.9% |
| EXK | $3.2B | 9.2x | +58.8% |
The Number That Settles the Argument
The next EPS print is the referee. Hecla's forward P/E sits at 18.0x against trailing earnings of $0.83 per share, a multiple that requires the miss streak to reverse to justify the consensus gap. The Q1 and Q2 2026 misses interrupted an accelerating beat trajectory and coincided with the insider's exit; the question for Susquehanna is whether Hecla's silver and gold revenue strength translates into earnings per share in coming quarters. Hecla also filed an August 28, 2026 8-K disclosing other events that investors should review ahead of next quarter. Run the free Hecla Mining Company deep-dive for the latest numbers.
Basis Report is independent research for informational purposes. It is not investment advice and not a recommendation to buy or sell any security.
Hecla Mining shares gapped down and fell 3.8% in recent trading, pushing the stock to $19.11 — below the $20.76–$20.97 per share that VP Patrick Malone received when he sold roughly $498,000 in open-market shares on August 20. At the same time, MarketBeat reported that Susquehanna Fundamental Investments opened a fresh stake, creating a direct conflict between an insider's exit and a new institutional entry.