Who Owns Hecla Mining Company?

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Who Really Controls Hecla Mining Company?

Understanding the ownership structure of a company is crucial for investors and stakeholders alike. In May 2024, Hecla Mining Company, a major player in the silver and gold market, saw a significant leadership change, highlighting the importance of knowing who's in charge. This shift, with Catherine J. “Cassie” Boggs taking the helm, underscores the impact of ownership on a company's strategic direction.

Founded in 1891, Hecla Mining Company (NYSE: HL) has a rich Hecla Mining SWOT Analysis and a market cap of €2.83 billion as of May 29, 2025, the company's financial performance, including record sales in 2024, makes it a compelling case study in corporate governance and shareholder influence. This analysis explores the evolution of Hecla Mining ownership, from its early days to the present, examining the roles of institutional investors and public shareholders and their impact on the company's future. The exploration will also touch on the Hecla Mining shareholders and the current Hecla Mining CEO.

The Hecla Mining Company was established on October 14, 1891, in Idaho. The founders were Amasa Campbell, Patsy Clark, and John Finch. Their primary aim was to acquire and trade mining claims within Idaho's Silver Valley, setting the stage for what would become a significant player in the mining industry.

The original Hecla claim, filed by James Toner in 1885, eventually came under the full ownership of Patsy Clark by July 1, 1891. Clark, along with Albert Gross and Charles Kipp, officially formed the Hecla Mining Company on September 29, 1891. Upon incorporation, the company issued 500,000 shares.

In 1898, a 'new' Hecla Mining Company was incorporated in Washington by Campbell, Finch, and Clark. Edward F. Moffitt was appointed manager. Amasa Campbell was voted president, and the stock, with a par value of 25¢, rose to 45¢ per share within three months. This reorganization reflected the evolving dynamics of Hecla's early ownership and strategic direction.

Early Ownership and Operations

The founders of Hecla Mining Company envisioned expanding their control over promising mining prospects, leading to the acquisition of claims adjacent to the Hecla lead mine. Early financial results were modest; the initial ore production was valued at only $14,000 in the first seven years. The 1898 reorganization saw changes in the founding ownership, with over half the original founders having either passed away, relocated, or divested their interests, indicating the early evolution of Hecla Mining ownership.

• The company's early focus was on acquiring and trading mining claims.
• Initial ore production was relatively low, reflecting the early stages of the company.
• The 1898 reorganization marked a shift in the founding ownership structure.
• The early strategy involved expanding control over promising mining prospects.

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The journey of Hecla Mining Company, a key player in the mining industry, reflects a dynamic evolution in its ownership structure. Initially, the company traded on the American Stock Exchange for 49 years. A pivotal moment arrived in 1964 when Hecla merged with Lucky Friday Silver-Lead Mines, solidifying its position as a major owner with a 38% stake and leading to its listing on the New York Stock Exchange (NYSE) on December 21, 1964. This transition marked a significant shift in the company's accessibility to investors and its overall market presence.

As of May 29, 2025, the market capitalization of Hecla Mining Company is approximately €2.83 billion. The company's ownership landscape is primarily shaped by institutional investors, who collectively hold a substantial portion of the company's stock. This includes a significant number of institutional owners and shareholders who have filed forms with the SEC, holding a considerable number of shares. The influence of these institutional investors is a key factor in the company's strategic direction and financial performance.

The major shareholders of Hecla Mining Company include Vanguard Group Inc., BlackRock, Inc., and Van Eck Associates Corp. Vanguard Group, Inc. alone holds 9.6% of shares outstanding as of October 2024. These key players, along with other institutional holders, play a crucial role in shaping the company's future. Understanding the dynamics of Hecla Mining ownership is essential for anyone looking to understand the company's financial performance and future prospects. For a deeper dive into the strategies driving the company, consider exploring the Marketing Strategy of Hecla Mining.

Ownership Insights for Hecla Mining

Hecla Mining Company's ownership structure is dominated by institutional investors, with a significant portion of shares held by major financial institutions. This concentration of ownership gives these institutions considerable influence over the company's strategic decisions.

• Institutional investors hold approximately 66% of the stock.
• Insider ownership is around 0.61%, reflecting the holdings of key personnel.
• Retail investors account for approximately 44.89% of the stock.
• Vanguard Group, Inc. is a significant shareholder, holding 9.6% of shares.

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The current Board of Directors of Hecla Mining Company plays a vital role in the company's governance. As of May 22, 2025, Dean Gehring joined the board. Catherine J. “Cassie” Boggs, who served as Interim President and CEO from May 2024, continues to serve as the Chair of the Board. Robert L. Krcmarov, appointed as President and Chief Executive Officer on November 7, 2024, also serves on the board. Charles B. Stanley serves as the Lead Independent Director. Mr. George R. Johnson retired from the board effective May 21, 2025, after serving since 2016.

Other key leadership figures include Russell Lawlar, Senior Vice President – Chief Financial Officer, Carlos Aguiar, Senior Vice President and Chief Operating Officer, and Michael L. Clary, Senior Vice President – Chief Administrative Officer. This composition reflects a blend of major shareholders, internal leadership, and independent directors, shaping the strategic direction and oversight of the company. Understanding the board's composition is crucial for investors looking at Hecla Mining ownership and its future prospects. For more information, you can explore the Competitors Landscape of Hecla Mining.

The voting structure at Hecla Mining Company generally follows a one-share-one-vote principle. The significant institutional ownership, with the top 12 shareholders holding a combined ownership of 51%, indicates the potential for these entities to collectively influence decisions. Proxy statements, available through SEC filings, provide detailed information on board elections and shareholder proposals, offering insights into the formal mechanisms for exercising voting power. This structure is important for understanding the power dynamics among Hecla Mining shareholders.

Key Takeaways on Hecla Mining's Governance

The Board of Directors includes a mix of experienced leaders and independent directors.

• The Chair of the Board is Catherine J. “Cassie” Boggs.
• Robert L. Krcmarov is the current President and CEO.
• Institutional investors hold a significant portion of the shares.
• Voting generally follows a one-share-one-vote principle.

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In the past few years, Hecla Mining Company has seen significant changes in its leadership. In May 2024, Catherine J. "Cassie" Boggs became Interim President and CEO, followed by Rob Krcmarov's appointment as President and CEO in November 2024. These changes are part of the company's management succession plan, aiming to guide its future strategies, including growth and innovation.

Regarding Hecla Mining ownership, institutional investors continue to hold a substantial portion of the company's shares. As of June 10, 2025, approximately 87.33% of the shares are held by institutions (excluding 13D/G filings). Major institutional investors like The Vanguard Group Inc. and BlackRock, Inc. remain key shareholders. Vanguard increased its holdings by 9.35% as of March 2025, owning 10.02% of the company. Dimensional Fund Advisors LP, however, reduced its holdings by 24.05% as of January 2025. High institutional ownership means that Hecla Mining stock can be influenced by their trading decisions.

The company's strategic moves have included the 2022 acquisition of Alexco Resource Corp., including the Keno Hill property. Keno Hill achieved its first profitable quarter under Hecla's ownership in Q1 2025, with $1.0 million of gross profit. In Q1 2025, the company reported record sales of $261.3 million, a 5% increase from the previous quarter. The company is exploring strategic alternatives for its Casa Berardi operations. For more insights into the company's development, consider reading about the Growth Strategy of Hecla Mining.

Leadership Changes

Catherine J. Boggs served as Interim President and CEO in May 2024. Rob Krcmarov was appointed President and CEO in November 2024, part of the management succession plan.

Institutional Ownership

Institutional ownership is approximately 87.33% as of June 10, 2025. Vanguard and BlackRock are major shareholders. Dimensional Fund Advisors LP reduced holdings.

Strategic Acquisitions

Acquisition of Alexco Resource Corp. in 2022, including Keno Hill. Keno Hill had its first profitable quarter in Q1 2025.

Financial Performance

Record sales of $261.3 million in Q1 2025, a 5% increase. Capital expenditures are expected to be between $222 million and $242 million in 2025.

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