Hecla Mining stock surged 20% this week, reaching a new all-time high, according to data from S&P Global Market Intelligence. Silver prices crossed the $100 per ounce threshold for the first time.
Silver and gold prices are both spiking, but for different reasons. Hecla CEO Rob Krcmarov said in a recent CNBC interview that central banks have been buying gold at historically high levels over the past several years, with indications those purchases will continue.
Silver, though, is experiencing a supply-based rally. There has been a persistent deficit in silver supply for the past five years. Consumption has outpaced supply as industrial users, such as electronics manufacturers, have increasingly needed the metal. More recently, China began imposing export restrictions at the start of this year, helping ignite the massive rally.
Hecla stock has also gotten a boost after the company was added to the S&P MidCap 400 index last month. But it's the rising price of silver and gold that has been the real story. Investors looking for more details on supply and demand can listen to Hecla as it hosts its 2026 Investor Day in New York City on Monday, Jan. 26.
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