PerpEquities

Equity

Hecla Mining Company (HL) perpetual futures

HL perpetual futures on 2 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade HLUSDT.

Hecla Mining Company explores and extracts precious and base metals in the US and internationally, producing silver, gold, lead, and zinc concentrates, with operations in Alaska, Idaho, Quebec, Mexico, and Nevada.

$15.83+4.4%NYSE open
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Price chart

Interactive TradingView chart

TradingView symbol NYSE:HL

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Trading data

Perpetual market activity

2/2 live markets
Venues
2
Live markets
2/2
24h volume
$1.4M
Open interest
$70.8KCoverage: 1/2 markets
Best liquidity
$36.1K
MEXC
Tightest spread
+6.3 bps
MEXC
Highest volume
$1.2M
BingX
Settlement mix
USDT · 2/2
Perp/spot vol.
0.00x
Spot volume $470.6M
OI / float
0.00%
Float $10.5B
Spot performance
1D+4.43%
5D-8.58%
1M-16.70%
6M-18.62%
YTD-18.92%
1Y+9.89%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
MEXCTradeHL/USDTTrading$15.83-7.3% APR
-0.00670% every 8h
+6.3 bps$36.1K$121.3K$70.8KUSDT20x
BingXTradeHL-USDTTrading$15.83-2.5% APR
-0.00230% every 8h
+6.3 bps$26K$1.2M-USDT-

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

Thin liquidity · 2 of 2 venues absorb $10k · Typical cost: +47.2 bps – +65.1 bps

Cheapest execution: MEXC · +38.2 bps

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

HL

Tightest spread

HL

Highest volume

HL

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 52m ago
Market cap
$10.5B
Updated 52m ago
Revenue
$1.6B
Trailing 12 months
Revenue growth
0%
Next fiscal year
Profit margin
+20.8%
P/E
31.4
Peer P/E 11.0
Free cash flow
$515.6M
Trailing 12 months
More metrics
Net income
$333.9M
Trailing 12 months
P/S
6.6
Peer P/E
11.0
Similar listed perps
Revenue estimate
$1.4B
Next fiscal year
Earnings
2026-11-05
Revenue est. $335.2M · Updated 52m ago
Dividend
$0.004
2026-08-26

Fundamental detail

Annual + quarterly
Latest revenue$1.4B
Net margin+22.6%
Free cash flow$310.2M
Net debt$34.2M
2020$691.9M
2021$807.5M
2022$718.9M
2023$720.2M
2024$929.9M
2025$1.4B
PeriodRevenueGrowthNet incomeFCF
2020$691.9M+3%-$9.5M$89.8M
2021$807.5M+17%$35.1M$111.3M
2022$718.9M-11%-$37.3M-$59.5M
2023$720.2M0%-$84.2M-$148.4M
2024$929.9M+29%$35.8M$3.8M
2025$1.4B+53%$321.7M$310.2M
PeriodGross marginOperating marginNet marginROEROA
2020+23.3%+9.7%-1.4%-0.6%-0.4%
2021+27.0%+10.3%+4.3%+2.0%+1.3%
2022+16.2%-1.7%-5.2%-1.9%-1.3%
2023+15.7%-6.2%-11.7%-4.3%-2.8%
2024+21.3%+11.4%+3.8%+1.8%+1.2%
2025+43.7%+37.7%+22.6%+12.4%+9.0%
PeriodCashDebtNet debtCurrent ratio
2020$129.8M$533.6M$403.8M1.93
2021$210M$539.2M$329.2M2.13
2022$104.7M$527.2M$422.5M1.50
2023$106.4M$662.8M$556.4M1.65
2024$26.9M$550.7M$523.8M1.08
2025$241.6M$275.8M$34.2M2.72
PeriodMarket capEnterprise valueP/SP/E
2020$3.4B$3.8B4.9-203.8
2021$2.8B$3.1B3.581.1
2022$3.1B$3.5B4.3-83.0
2023$2.9B$3.5B4.0-34.4
2024$3B$3.6B3.386.4
2025$12.5B$12.5B8.839.2
Q3 2024$245.1M
Q4 2024$249.7M
Q1 2025$261.3M
Q2 2025$304M
Q3 2025$409.5M
Q4 2025$448.1M
Q1 2026$411.4M
Q2 2026$333.9M
PeriodRevenueGrowthNet incomeFCF
Q3 2024$245.1M+35%$1.8M-$690K
Q4 2024$249.7M+55%$11.9M$6.7M
Q1 2025$261.3M+38%$28.9M-$18.4M
Q2 2025$304M+24%$57.7M$87.5M
Q3 2025$409.5M+67%$100.7M$90.1M
Q4 2025$448.1M+79%$134.4M$134.7M
Q1 2026$411.4M+57%-$19M$155M
Q2 2026$333.9M+10%$117.7M$135.8M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+24.2%+9.2%+0.7%+0.1%+0.1%
Q4 2024+27.4%+15.3%+4.8%+0.6%+0.4%
Q1 2025+28.3%+20.0%+11.0%+1.4%+1.0%
Q2 2025+39.3%+30.8%+19.0%+2.5%+1.7%
Q3 2025+44.1%+36.3%+24.6%+4.1%+3.1%
Q4 2025+55.4%+50.9%+30.0%+5.2%+3.8%
Q1 2026+61.6%+55.3%-4.6%-0.7%-0.6%
Q2 2026+64.9%+43.6%+35.3%+4.4%+3.7%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$22.3M$539.8M$517.5M1.09
Q4 2024$26.9M$550.7M$523.8M1.08
Q1 2025$23.7M$568.7M$545M1.43
Q2 2025$296.6M$564.7M$268.2M2.67
Q3 2025$133.9M$277.7M$143.8M2.15
Q4 2025$241.6M$275.8M$34.2M2.72
Q1 2026$587.6M$266.2M-$321.3M4.94
Q2 2026$483.5M$12.7M-$470.7M5.20
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$4.1B$4.7B16.9641.3
Q4 2024$3.1B$3.6B12.4-16.4
Q1 2025$3.5B$4.1B13.427.8
Q2 2025$3.8B$4.1B12.516.6
Q3 2025$8.1B$8.2B19.820.2
Q4 2025$12.9B$12.9B28.724.0
Q1 2026$12.5B$12.2B30.4-155.3
Q2 2026$10.3B$9.9B31.021.4

Refreshed 52m ago

Charts: revenue, profit, cash flow & valuation
Revenue$333.9MQ2 2026
$112M$224.1M$336.1M$448.1MQ3 2023: $181.9MQ4 2023: $160.7MQ1 2024: $189.5MQ2 2024: $245.7MQ3 2024: $245.1MQ4 2024: $249.7MQ1 2025: $261.3MQ2 2025: $304MQ3 2025: $409.5MQ4 2025: $448.1MQ1 2026: $411.4MQ2 2026: $333.9MQ3 2023Q2 2026
Net income$117.7MQ2 2026
$1.4M$45.7M$90.1M$134.4MQ3 2023: -$22.4MQ4 2023: -$42.9MQ1 2024: -$5.8MQ2 2024: $27.9MQ3 2024: $1.8MQ4 2024: $11.9MQ1 2025: $28.9MQ2 2025: $57.7MQ3 2025: $100.7MQ4 2025: $134.4MQ1 2026: -$19MQ2 2026: $117.7MQ3 2023Q2 2026
EBITDA$189.3MQ2 2026
$63.9M$127.8M$191.8M$255.7MQ3 2023: $23.9MQ4 2023: $15.5MQ1 2024: $59.9MQ2 2024: $103.4MQ3 2024: $68.2MQ4 2024: $75MQ1 2025: $95.7MQ2 2025: $139.3MQ3 2025: $219.7MQ4 2025: $232.9MQ1 2026: $255.7MQ2 2026: $189.3MQ3 2023Q2 2026
Free cash flow$135.8MQ2 2026
-$7.6M$46.6M$100.8M$155MQ3 2023: -$45.1MQ4 2023: -$61.7MQ1 2024: -$30.5MQ2 2024: $28.3MQ3 2024: -$690KQ4 2024: $6.7MQ1 2025: -$18.4MQ2 2025: $87.5MQ3 2025: $90.1MQ4 2025: $134.7MQ1 2026: $155MQ2 2026: $135.8MQ3 2023Q2 2026
EPS$0.17Q2 2026
-$0.01$0.06$0.13$0.2Q3 2023: -$0.04Q4 2023: -$0.07Q1 2024: -$0.01Q2 2024: $0.04Q3 2024: $0Q4 2024: -$0.07Q1 2025: $0.05Q2 2025: $0.09Q3 2025: $0.15Q4 2025: $0.2Q1 2026: -$0.03Q2 2026: $0.17Q3 2023Q2 2026
Cash / Debt$483.5MQ2 2026
$167.8M$335.5M$503.3M$671.1MQ3 2023 · Cash: $100.7MQ3 2023 · Debt: $616.2MQ4 2023 · Cash: $106.4MQ4 2023 · Debt: $662.8MQ1 2024 · Cash: $80.2MQ1 2024 · Debt: $671.1MQ2 2024 · Cash: $24.6MQ2 2024 · Debt: $590.5MQ3 2024 · Cash: $22.3MQ3 2024 · Debt: $539.8MQ4 2024 · Cash: $26.9MQ4 2024 · Debt: $550.7MQ1 2025 · Cash: $23.7MQ1 2025 · Debt: $568.7MQ2 2025 · Cash: $296.6MQ2 2025 · Debt: $564.7MQ3 2025 · Cash: $133.9MQ3 2025 · Debt: $277.7MQ4 2025 · Cash: $241.6MQ4 2025 · Debt: $275.8MQ1 2026 · Cash: $587.6MQ1 2026 · Debt: $266.2MQ2 2026 · Cash: $483.5MQ2 2026 · Debt: $12.7MQ3 2023Q2 2026
CashDebt
Profitability+64.9%Q2 2026
-3.8%+19.1%+42.0%+64.9%Q3 2023 · Gross margin: +18.4%Q4 2023 · Gross margin: +4.3%Q1 2024 · Gross margin: +10.1%Q2 2024 · Gross margin: +20.9%Q3 2024 · Gross margin: +24.2%Q4 2024 · Gross margin: +27.4%Q1 2025 · Gross margin: +28.3%Q2 2025 · Gross margin: +39.3%Q3 2025 · Gross margin: +44.1%Q4 2025 · Gross margin: +55.4%Q1 2026 · Gross margin: +61.6%Q2 2026 · Gross margin: +64.9%Q3 2023 · Operating margin: -6.9%Q4 2023 · Operating margin: -26.4%Q1 2024 · Operating margin: +2.7%Q2 2024 · Operating margin: +16.5%Q3 2024 · Operating margin: +9.2%Q4 2024 · Operating margin: +15.3%Q1 2025 · Operating margin: +20.0%Q2 2025 · Operating margin: +30.8%Q3 2025 · Operating margin: +36.3%Q4 2025 · Operating margin: +50.9%Q1 2026 · Operating margin: +55.3%Q2 2026 · Operating margin: +43.6%Q3 2023 · Net margin: -12.3%Q4 2023 · Net margin: -26.7%Q1 2024 · Net margin: -3.0%Q2 2024 · Net margin: +11.3%Q3 2024 · Net margin: +0.7%Q4 2024 · Net margin: +4.8%Q1 2025 · Net margin: +11.0%Q2 2025 · Net margin: +19.0%Q3 2025 · Net margin: +24.6%Q4 2025 · Net margin: +30.0%Q1 2026 · Net margin: -4.6%Q2 2026 · Net margin: +35.3%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+9.8%Q2 2026
+19.9%+39.7%+59.6%+79.5%Q3 2024: +34.7%Q4 2024: +55.4%Q1 2025: +37.9%Q2 2025: +23.8%Q3 2025: +67.1%Q4 2025: +79.5%Q1 2026: +57.4%Q2 2026: +9.8%Q3 2023Q2 2026
Shares outstanding675.9MQ2 2026
169M337.9M506.9M675.9MQ3 2023: 607.9MQ4 2023: 610.5MQ1 2024: 616.2MQ2 2024: 622.2MQ3 2024: 625.7MQ4 2024: 631.4MQ1 2025: 634.7MQ2 2025: 639.7MQ3 2025: 671.9MQ4 2025: 673.8MQ1 2026: 675.2MQ2 2026: 675.9MQ3 2023Q2 2026
Valuation21.4Q2 2026
43.9243.0442.2641.3Q3 2023 · P/E: -26.5Q4 2023 · P/E: -17.1Q1 2024 · P/E: -132.0Q2 2024 · P/E: 26.6Q3 2024 · P/E: 641.3Q4 2024 · P/E: -16.4Q1 2025 · P/E: 27.8Q2 2025 · P/E: 16.6Q3 2025 · P/E: 20.2Q4 2025 · P/E: 24.0Q1 2026 · P/E: -155.3Q2 2026 · P/E: 21.4Q3 2023 · P/S: 13.1Q4 2023 · P/S: 18.3Q1 2024 · P/S: 16.0Q2 2024 · P/S: 12.0Q3 2024 · P/S: 16.9Q4 2024 · P/S: 12.4Q1 2025 · P/S: 13.4Q2 2025 · P/S: 12.5Q3 2025 · P/S: 19.8Q4 2025 · P/S: 28.7Q1 2026 · P/S: 30.4Q2 2026 · P/S: 31.0Q3 2023Q2 2026
P/EP/S
Revenue$1.4B2025
$355.8M$711.5M$1.1B$1.4B2018: $567.1M2019: $673.3M2020: $691.9M2021: $807.5M2022: $718.9M2023: $720.2M2024: $929.9M2025: $1.4B20182025
Net income$321.7M2025
$9.2M$113.4M$217.6M$321.7M2018: -$26.6M2019: -$94.9M2020: -$9.5M2021: $35.1M2022: -$37.3M2023: -$84.2M2024: $35.8M2025: $321.7M20182025
EBITDA$686.3M2025
$171.6M$343.2M$514.7M$686.3M2018: $173.3M2019: $139.7M2020: $203.3M2021: $220.1M2022: $143M2023: $124M2024: $306.5M2025: $686.3M20182025
Free cash flow$310.2M2025
-$33.7M$80.9M$195.6M$310.2M2018: -$42.7M2019: -$555K2020: $89.8M2021: $111.3M2022: -$59.5M2023: -$148.4M2024: $3.8M2025: $310.2M20182025
EPS$0.492025
-$0.03$0.14$0.32$0.492018: -$0.062019: -$0.22020: -$0.032021: $0.062022: -$0.072023: -$0.142024: $0.062025: $0.4920182025
Cash / Debt$241.6M2025
$165.7M$331.4M$497.1M$662.8M2018 · Cash: $27.4M2018 · Debt: $545.9M2019 · Cash: $62.5M2019 · Debt: $533.8M2020 · Cash: $129.8M2020 · Debt: $533.6M2021 · Cash: $210M2021 · Debt: $539.2M2022 · Cash: $104.7M2022 · Debt: $527.2M2023 · Cash: $106.4M2023 · Debt: $662.8M2024 · Cash: $26.9M2024 · Debt: $550.7M2025 · Cash: $241.6M2025 · Debt: $275.8M20182025
CashDebt
Profitability+43.7%2025
+0.4%+14.8%+29.3%+43.7%2018 · Gross margin: +13.9%2019 · Gross margin: +5.0%2020 · Gross margin: +23.3%2021 · Gross margin: +27.0%2022 · Gross margin: +16.2%2023 · Gross margin: +15.7%2024 · Gross margin: +21.3%2025 · Gross margin: +43.7%2018 · Operating margin: -6.9%2019 · Operating margin: -6.9%2020 · Operating margin: +9.7%2021 · Operating margin: +10.3%2022 · Operating margin: -1.7%2023 · Operating margin: -6.2%2024 · Operating margin: +11.4%2025 · Operating margin: +37.7%2018 · Net margin: -4.7%2019 · Net margin: -14.1%2020 · Net margin: -1.4%2021 · Net margin: +4.3%2022 · Net margin: -5.2%2023 · Net margin: -11.7%2024 · Net margin: +3.8%2025 · Net margin: +22.6%20182025
Gross marginOperating marginNet margin
Revenue growth+53.0%2025
+5.0%+21.0%+37.0%+53.0%2019: +18.7%2020: +2.8%2021: +16.7%2022: -11.0%2023: +0.2%2024: +29.1%2025: +53.0%20182025
Shares outstanding655.8M2025
163.9M327.9M491.8M655.8M2018: 433.4M2019: 490.4M2020: 527.3M2021: 542.2M2022: 557.3M2023: 605.7M2024: 622.5M2025: 655.8M20182025
Valuation39.22025
-131.2-58.713.986.42018 · P/E: -38.52019 · P/E: -17.02020 · P/E: -203.82021 · P/E: 81.12022 · P/E: -83.02023 · P/E: -34.42024 · P/E: 86.42025 · P/E: 39.22018 · P/S: 1.82019 · P/S: 2.52020 · P/S: 4.92021 · P/S: 3.52022 · P/S: 4.32023 · P/S: 4.02024 · P/S: 3.32025 · P/S: 8.820182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-05
Revenue est. $335.2M · Updated 52m ago
Dividend
$0.004
2026-08-26

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20260.73$1.4B0%4
FY 20271.03$1.5B+4%3
FY 20280.91$1.5B+6%1
FY 20290.74$1.5B+8%1
FY 20300.80$1.5B+9%1
Q1 20270.22$359.8M-13%1

Company events

6
2026-11-05EarningsActual - / Estimate 0.15-
2026-08-26Dividend$0.004-
2026-08-04EarningsActual 0.17 / Estimate 0.18Miss
2026-05-22Dividend$0.004-
2026-05-05EarningsActual 0.24 / Estimate 0.27Miss
2026-03-09Dividend$0.004-

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering HL have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings47121
Analysts916
Buy / hold / sell21 / 21 / 579 / 36 / 6
Upgrades / downgrades / initiations1 / 1 / 32 / 5 / 3
Price targets hit / missed9 / 38 (19%)82 / 38 (68%)
Avg. return after a rating (TipRanks)-22.1%+62.4%
Best / worst call+55.6% / -57.4%+238.3% / -57.4%

After buy calls on this stock: median 21-day move +2.3% vs S&P 500 +1.0% (n = 88)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Michael SipercoRBC Capital95% hit rate on this stock · 22 targets measuredBuytarget $13.00Nov 10, 2025
  2. Joseph ReagorRoth MKM88% hit rate on this stock · 8 targets measuredSelltarget $13.50May 7, 2026
  3. Heiko IhleH.C. Wainwright43% hit rate on this stock · 14 targets measuredBuytarget $26.75Sep 22, 2026

Latest ratings

DateAnalystCallTarget
Oct 13, 2026Josh WolfsonRBC CapitalBuyMaintained$20.00
Sep 22, 2026Heiko IhleH.C. WainwrightBuyMaintained$26.75
Sep 15, 2026Josh WolfsonRBC CapitalBuyMaintained$20.00
Aug 20, 2026Fahad TariqJefferiesHoldInitiated$22.00
Aug 21, 2026Fahad TariqJefferiesHoldInitiated$22.00
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$14.00$16.00$18.00$20.00$22.00$24.00Nov 25 · Buy 2 · Hold 4 · Sell 1Nov 25Dec 25 · Buy 3 · Hold 3 · Sell 1Jan 26 · Buy 3 · Hold 4 · Sell 1Jan 26Feb 26 · Buy 3 · Hold 4 · Sell 1Mar 26 · Buy 3 · Hold 4 · Sell 1Mar 26Apr 26 · Buy 4 · Hold 3 · Sell 1May 26 · Buy 3 · Hold 2 · Sell 1May 26Jun 26 · Buy 3 · Hold 2 · Sell 1Jul 26 · Buy 3 · Hold 2 · Sell 1Jul 26Aug 26 · Buy 3 · Hold 4 · Sell 1Sep 26 · Buy 3 · Hold 4 · Sell 1Sep 26Oct 26 · Buy 3 · Hold 4 · Sell 1Nov 25 · avg. target $13.07Dec 25 · avg. target $15.07Jan 26 · avg. target $22.56Feb 26 · avg. target $21.88Mar 26 · avg. target $22.25Apr 26 · avg. target $22.25May 26 · avg. target $23.21Jun 26 · avg. target $23.21Jul 26 · avg. target $21.88Aug 26 · avg. target $22.16Sep 26 · avg. target $21.66Oct 26 · avg. target $21.66Nov 25 · month-end close $16.82Dec 25 · month-end close $19.19Jan 26 · month-end close $22.52Feb 26 · month-end close $24.91Mar 26 · month-end close $18.63Apr 26 · month-end close $18.02May 26 · month-end close $17.77Jun 26 · month-end close $15.43Jul 26 · month-end close $14.12Aug 26 · month-end close $19.87Sep 26 · month-end close $17.03Oct 26 · month-end close $17.07

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Oct 16, 2026 · 47 ratings

Frequently asked questions

Where can I trade HL perpetual futures?

Hecla Mining Company (HL) perpetual futures trade on 2 crypto venues, including BingX, MEXC. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade HL around the clock?

Yes. Unlike the underlying stock, HL perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on HL perpetuals?

Right now the HL perp funding rate is -4.9% annualized (venue median), ranging from -7.3% to -2.5% across 2 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the HL perp price compare to the Hecla Mining Company stock?

The venue-median HL perp mark is $15.8 versus a reference stock price of $15.8, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a HL perpetual future?

A HL perpetual is a derivative that tracks the price of Hecla Mining Company with no expiry date. It lets you take long or short exposure to Hecla Mining Company on crypto venues, around the clock.

What is HLUSDT perpetual?

HLUSDT is the symbol most crypto exchanges use for the Hecla Mining Company perpetual settled in USDT (Tether). It tracks the HL share price through an index, trades 24/7 with leverage and never expires.

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