HIGHBuilt-inCommodity
silver, gold, lead and zinc
“10-K Item 1: 'Our operating results are substantially dependent upon the prices of silver, gold, lead and zinc'”
HL · Concentration risk · 10-K extracted
Hecla Mining (HL) concentration risks
Updated
The most significant concentration Hecla Mining discloses is silver, gold, lead and zinc, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Hecla Mining’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
44.3%
Greens Creek
“10-K Item 1: 'The contributions to our total metals sales by our significant operations in 2025 were 44.3% from Greens Creek'”
MEDIUMOutside partyCustomer
relatively small number of customers
“10-K Item 1A: 'We derive a significant amount of revenue from a relatively small number of customers'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile spans commodity, geography, and customer in a way that compounds across all three axes. At the most fundamental level, operating results are substantially dependent upon the prices of silver, gold, lead, and zinc — a high-share structural exposure to a basket of precious and base metals whose prices are set in global markets and can swing sharply based on macroeconomic conditions, industrial demand, and investor sentiment. No amount of operational efficiency can insulate results from commodity price cycles. Within the production base, Greens Creek contributed 44.3% of total metals sales in 2025, a moderate-share structural concentration in a single mining operation. As is typical in mining, any significant operational disruption at a single asset of this share — whether from equipment failure, geological challenges, permitting issues, or labor disputes — would have a material effect on output and revenue. On the demand side, a significant amount of revenue is derived from a relatively small number of customers, a moderate dependency where the loss of a single buyer or a deterioration in commercial terms with a small group of smelters or traders could affect realized prices and volume offtake. The customer base is not quantified precisely in the cited disclosure, so the degree of concentration cannot be ranked numerically. Overall, this is a multi-axis profile with no single offset: commodity prices drive the top line, a single mine drives a large share of production, and a limited set of buyers takes the output.
For the engine’s reasoning on HL’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Other Precious Metals & Mining
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| HL● | Hecla Mining Company | 1 | 2 | 0 | 3 |
| PPTA | Perpetua Resources Corp. | 1 | 1 | 0 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.