Is Hecla Mining Co. overvalued or undervalued?

As of 30 June 2025, Hecla Mining Co. has moved from an attractive to a fair valuation grade. The company appears to be overvalued based on its current metrics. Key ratios include a P/E ratio of 49, a Price to Book Value of 1.93, and an EV to EBITDA of 12.62, which are significantly higher than its peers, such as Coeur Mining, Inc. with a P/E of 44.72 and Royal Gold, Inc. at 27.25.
In comparison to the S&P 500, Hecla Mining has shown strong performance year-to-date with a return of 119.35% versus 12.22% for the index, although it has underperformed in the last week and over the last five years. Given the high valuation ratios relative to its peers and the recent downgrade in its valuation grade, Hecla Mining Co. is considered overvalued.