HL vs PPTA: Hecla Mining and Perpetua Resources compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Hecla Mining is the larger company, worth $8.9B, about 4.1 times Perpetua Resources.
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HL | PPTA |
|---|---|---|
| Market cap | $8.9B | $2.2B |
| Share price | $17.07 | $20.64 |
| Revenue (last fiscal year) | $1.4B | — |
| Free cash flow (last fiscal year) | $310M | -$106M |
| Revenue growth, last year | +52.5% | — |
| Revenue growth per year, last 5 fiscal years | +15.2% | — |
| Operating margin | 46.0% | — |
| Net margin | 20.8% | — |
| Return on equity | 12.5% | -32.3% |
| P/E (trailing) | 19.2x | — |
| Price / free cash flow | 28.7x | — |
| EV / EBITDA | 10.5x | — |
| FCF growth the price implies | 9.7% | — |
| Dividend yield | 0.11% | — |
| Debt / equity | 0.19x | 0.07x |
| Fundamental grade | A | D |
| Superinvestors holding it | 3 | 2 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Hecla Mining
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $807M | $111M | 10.3% |
| 2022 | $719M | -$59M | -1.7% |
| 2023 | $720M | -$148M | -6.2% |
| 2024 | $930M | $4M | 11.4% |
| 2025 | $1.4B | $310M | 36.2% |
Perpetua Resources
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | — | -$29M | — |
| 2022 | — | -$25M | — |
| 2023 | — | -$21M | — |
| 2024 | — | -$12M | — |
| 2025 | — | -$106M | — |
Where the revenue comes from
Hecla Mining · by segments, 2023
Greens Creek$385M53%
Casa Berardi$178M25%
Lucky Friday$116M16%
Keno Hill$36M5%
Other Segments$5M1%
Nevada Operations$960,0000%
Perpetua Resources
No segment breakdown reported.
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HL in InvestinglyQuestions
Which is bigger, Hecla Mining or Perpetua Resources?
Hecla Mining (HL), at $8.9B against $2.2B.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.