10 Best Gold Penny Stocks to Buy Now

2. Hecla Mining Company (NYSE:HL)

Number of Hedge Fund Holders: 27

Hecla Mining Company (NYSE:HL) is North America’s top silver producer, with various precious and base metal mines across the region. Its main assets, including Greens Creek and Lucky Friday mines, deliver steady cash flow, while Keno Hill is central to future growth plans. The company is known for dependability and growth, which strengthens its position in the mining industry as one of the best penny stocks.

For the quarter ended December 31, 2024, Hecla Mining Company (NYSE:HL) posted record revenues of over $900 million, showing a 29.1% increase year-over-year. This boost came from higher silver and gold prices, and strong mine output. Greens Creek and Lucky Friday generated $228 million in free cash flow, allowing Hecla to self-fund its growth projects.

However, Hecla Mining Company (NYSE:HL) faced setbacks at Keno Hill, producing only 2.8 million ounces of silver, fewer than the expected target. This shortfall was caused by infrastructure issues and permit delays. Hecla is currently operating at 440 tons per day and is pushing to reach 600 tons per day to cut fixed costs and improve output. The company is working with Yukon officials to obtain permits for increased production.

Despite issues at Keno Hill, Hecla hit its 2024 silver production targets. Greens Creek delivered 8.5 million ounces, while Lucky Friday contributed 4.9 million ounces. Casa Berardi added 87,000 ounces of gold. Looking ahead, Hecla Mining Company (NYSE:HL) projects 15.5 to 17 million ounces of silver for 2025. The company’s outlook is positive, with Lucky Friday’s mine life extended to 18 years as a result of recent assessments.