Why Hecla Mining Stock Dropped Today

MrDecoder · 2026-03-09T16:08:31+00:00

Hecla Mining's stock fell 2.5% due to declining gold prices, despite a rise in silver prices. Geopolitical tensions typically boost safe-haven investments, but a stronger U.S. dollar and rising interest rates are negatively impacting precious metal prices, affecting Hecla's performance.

MrDecoder

2026-03-09 16:08:31

Abstract generation in progress

**Hecla Mining **(HL 2.48%) stock declined 2.5% through 11:35 a.m. ET Monday on sliding gold prices – but rising silver prices.

War continues to rage in the Middle East, driving investors to buy gold and silver as safe havens. A couple macroeconomic trends are interfering with this instinct, however, and this has been bad news for Hecla stock recently.

Image source: Getty Images.

Silver and gold prices

Hecla mainly mines silver. Silver closed at $93.73 per ounce at the end of February, according to data from TradingEconomics.com. It then moved higher, topping $96.10 a week ago. Silver then slid, but today it’s bouncing 0.6% to $84.81 per ounce – which _should _be good news for Hecla.

Gold is the problem, and Hecla also mines gold. Gold closed February around $5,278 per ounce. Prices spiked when U.S. and Israeli forces began bombing Iran, rising as high as $5,416 last Monday before falling back. At last report, gold was trading at $5,095 per ounce, down 1.2% from Friday’s close.

Silver is still down 12% from its recent high, though, versus gold down only 6%. Silver thus has more room for improvement.

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NYSE: HL

Hecla Mining

Today’s Change

(-2.48%) $-0.51

Current Price

$19.88

Key Data Points

Market Cap

$14B

Day’s Range

$18.91 - $19.99

52wk Range

$4.46 - $34.17

Volume

9.2M

Avg Vol

27M

Gross Margin

40.87%

Dividend Yield

0.07%

Two big things affect precious metal prices

More broadly, the U.S. dollar index, which compares the dollar’s value to a basket of international currencies, is up about 1.7% since the war began. A stronger dollar means you need fewer dollars to buy an ounce of silver. Thus, when the dollar rises, the price of silver (in dollar terms) falls.

Interest rates can also affect silver prices. When interest rates rise, investors face the choice between owning silver, which doesn’t pay interest, and owning bonds, which do. Investors may sell silver to buy bonds, and when this happens – again – the price of silver drops.

That’s why Hecla stock is down today.

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