We recently compiled a list of the 12 Best Gold Stocks to Invest In According to Billionaires. In this article, we are going to take a look at where Hecla Mining Company (NYSE:HL) stands against the other gold stocks.
Within the global metals industry, the gold sector is essential because it offers long-term investors a profitable opportunity as well as a store of value in times of crisis. Gold continues to be one of the most sought-after precious metals in the world due to its historical use as a haven during times of inflation and geopolitical unrest, as well as its growing use in cutting-edge technologies.
According to Reuters, gold prices have risen to all-time highs as of March 2025, with spot prices hitting $2,936.38 per ounce and U.S. gold futures topping $2,956.10. Record central bank purchases, growing fears about inflation, and changing global monetary policies have all contributed to the surge, which has made gold a key asset class in an uncertain environment. Demand for gold as a safe haven has increased as a result of increased investor uncertainty brought on by the ongoing trade war between the United States and China, which has resulted in supply chain disruptions and retaliatory tariffs.
Gold produced a 43.83% return in 2024, significantly above the 20.89% gain of the whole market. Supported by over-the-counter investments and strategic central bank hoarding, especially in emerging nations like China and India, the total demand for gold hit a record high of 4,974 metric tons. For the third year in a row, central bank purchases topped 1,000 metric tons, according to the World Gold Council. Gold’s appeal is strengthened by this accumulation, which is a part of a larger trend of diversification away from the U.S. currency. The premium that investors are willing to pay in the current inflationary environment is reflected in the 9% increase in overall expenditure on gold jewelry, despite an 11% drop in demand for jewelry due to high costs.
Strong demand for investments further supports the market’s momentum. Demand for actual bars and coins remained stable at 1,186 metric tons, while ETFs saw no significant withdrawals for the first time since 2020. Due to gold’s use in semiconductor and artificial intelligence applications, technology use also increased by 7%. As gold moved from Asian markets like Dubai and Hong Kong to the U.S. due to favorable futures premiums and expected import duties, arbitrage opportunities drove an 80% increase in U.S. Comex inventories since late 2024.
Additionally, billionaire investors have increased their attention to the metals industry. According to the 2024 UBS Billionaire Ambitions Report, 40% of affluent investors intend to expand their holdings of gold and other precious metals in the upcoming year. Warren Buffett’s conglomerate has chosen mining stocks over actual gold, and Jeff Bezos and Bill Gates have invested $537 million in Africa’s rare metals sector. This is part of a larger strategy move toward assets linked to technology and sustainable energy. The fact that eight of the top 100 billionaires in Forbes have made their riches in mining and metals highlights the industry’s ongoing profitability.
Methodology
To create our list of the 12 Best Gold Stocks to Invest In According to Billionaires, we examined Insider Monkey’s exclusive database of billionaire stock holdings. Based on the largest number of billionaire investors, as of Q4 2024, we have chosen the 12 best gold stocks. We have included the total value of billionaire holdings as a secondary criterion to rank the stocks that have the same number of billionaire holdings. We have also considered the number of hedge funds holding a stake in the respective stocks, as per Insider Monkey’s database of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Aerial view of a gold mine, with its winding roads and pits.
Hecla Mining Company (NYSE:HL)
Number of Billionaire Investors: 9
Number of Hedge Fund Holders: 27
Hecla Mining Company (NYSE:HL) operates in China, Japan, Korea, Canada, and the United States. The company mostly mines doré that contains gold and silver, as well as lead, zinc, and silver. According to Insider Monkey’s database, 27 billionaires held stakes in HL worth over $75.1 million.
Hecla Mining Company (NYSE:HL) had record revenues of $261 million and record adjusted EBITDA of over $90 million for the first quarter of 2025, which concluded on March 31, 2025. In addition to more than 34,000 ounces of gold, 4.1 million ounces of silver were produced. In the first quarter of 2025, silver margins increased from 54% in 2024 to 65%. Additionally, the company’s financial situation improved, as evidenced by a net leverage ratio that dropped from 2.7x to 1.5x annually.
Hecla’s principal mines operated effectively. With 1.3 million ounces of silver produced and $8.4 million in free cash flow, the Lucky Friday mine set a milling record. With a gross profit of $1 million, the Keno Hill mine, which Hecla owned, produced more than 770,000 ounces of silver and became profitable for the first time. About 20,500 ounces of gold were produced by Casa Berardi, with an emphasis on cost reduction in the second half of 2025.
The four pillars of Hecla Mining Company’s (NYSE:HL) strategic efforts are financial discipline, portfolio rationalization, operational excellence, and silver market leadership. With a $3.3 million investment aimed at high-grade gold and silver veins, the business is exploring Nevada and moving forward with development at its Keno Hill project. In addition, Hecla intends to develop its Libby project, which has substantial resource potential, and is examining strategic options for Casa Berardi.
As the economy improves, Hecla Mining Company (NYSE:HL) is still dedicated to growing its exploration investment and fortifying its balance sheet.
Overall HL ranks 11th on our list of the best gold stocks to invest in according to billionaires. While we acknowledge the potential of HL as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than HL but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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