HL vs. UEC

Last updated Jun 13, 2026

HL (Hecla Mining Company) and UEC (Uranium Energy Corp.) are both stocks. HL operates in Gold (Basic Materials), while UEC operates in Uranium (Energy). Over the past 10 years, HL returned 13.95%/yr vs 27.01%/yr for UEC. At a 0.31 correlation, their price movements are largely independent.

Performance

HL vs. UEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hecla Mining Company (HL) and Uranium Energy Corp. (UEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HL achieves a -20.29% return, which is significantly lower than UEC's -5.57% return. Over the past 10 years, HL has underperformed UEC with an annualized return of 13.95%, while UEC has yielded a comparatively higher 27.01% annualized return.

HL

• 1D: 2.00%
• 1M: -27.35%
• YTD: -20.29%
• 6M: -18.68%
• 1Y: 155.56%
• 3Y*: 42.93%
• 5Y*: 11.61%
• 10Y*: 13.95%

UEC

• 1D: 3.76%
• 1M: -28.24%
• YTD: -5.57%
• 6M: -14.63%
• 1Y: 77.05%
• 3Y*: 51.69%
• 5Y*: 28.08%
• 10Y*: 27.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HL vs. UEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HL Hecla Mining Company	-20.29%	291.70%	2.82%	-12.93%	6.99%	-18.97%	91.83%	44.43%	-40.37%	-24.08%
UEC Uranium Energy Corp.	-5.57%	74.59%	4.53%	64.95%	15.82%	90.34%	91.47%	-26.46%	-29.38%	58.04%

Correlation

The correlation between HL and UEC is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Apr 5, 2007	0.31

The correlation between HL and UEC shifts across timeframes, from 0.31 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap HL : $10.32B UEC : $5.41B
EPS HL : $0.84 UEC : -$0.22
PS Ratio HL : 6.47 UEC : 257.79
PB Ratio HL : 4.02 UEC : 3.81
Total Revenue (TTM) HL : $1.57B UEC : $20.20M
Gross Profit (TTM) HL : $788.95M UEC : -$18.26M
EBITDA (TTM) HL : $864.40M UEC : -$114.96M

Return for Risk

HL vs. UEC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HL

HL Risk / Return Rank: 85
HL Sharpe Ratio Rank: 91
HL Sortino Ratio Rank: 86
HL Omega Ratio Rank: 84
HL Calmar Ratio Rank: 83
HL Martin Ratio Rank: 81

UEC

UEC Risk / Return Rank: 71
UEC Sharpe Ratio Rank: 73
UEC Sortino Ratio Rank: 72
UEC Omega Ratio Rank: 68
UEC Calmar Ratio Rank: 70
UEC Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HL vs. UEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hecla Mining Company (HL) and Uranium Energy Corp. (UEC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HL	UEC	Difference
Sharpe ratio: Return per unit of total volatility	2.16	0.98	+1.18
Sortino ratio: Return per unit of downside risk	2.61	1.70	+0.91
Omega ratio: Gain probability vs. loss probability	1.32	1.20	+0.12
Calmar ratio: Return relative to maximum drawdown	2.80	1.46	+1.35
Martin ratio: Return relative to average drawdown	6.33	3.58	+2.76

HL vs. UEC - Sharpe Ratio Comparison

The current HL Sharpe Ratio is 2.16, which is higher than the UEC Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of HL and UEC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HL vs. UEC - Drawdown Comparison

The maximum HL drawdown since its inception was -97.92%, roughly equal to the maximum UEC drawdown of -97.40%. Use the drawdown chart below to compare losses from any high point for HL and UEC.

Drawdown Indicators

	HL	UEC	Difference
Max Drawdown Largest peak-to-trough decline	-97.92%	-97.40%	-0.52%
Max Drawdown (1Y) Largest decline over 1 year	-55.81%	-53.23%	-2.58%
Max Drawdown (3Y) Largest decline over 3 years	-55.81%	-53.49%	-2.32%
Max Drawdown (5Y) Largest decline over 5 years	-61.90%	-63.76%	+1.86%
Max Drawdown (10Y) Largest decline over 10 years	-82.45%	-80.59%	-1.86%
Current Drawdown Current decline from peak	-51.91%	-45.23%	-6.68%
Average Drawdown Average peak-to-trough decline	-69.93%	-62.08%	-7.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.67%	21.62%	+3.05%

Volatility

HL vs. UEC - Volatility Comparison

The current volatility for Hecla Mining Company (HL) is 22.72%, while Uranium Energy Corp. (UEC) has a volatility of 35.27%. This indicates that HL experiences smaller price fluctuations and is considered to be less risky than UEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HL	UEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.72%	35.27%	-12.55%
Volatility (6M) Calculated over the trailing 6-month period	54.93%	61.37%	-6.44%
Volatility (1Y) Calculated over the trailing 1-year period	72.59%	79.21%	-6.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.35%	74.87%	-15.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.77%	73.94%	-11.17%

Dividends

HL vs. UEC - Dividend Comparison

HL's dividend yield for the trailing twelve months is around 0.10%, while UEC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HL Hecla Mining Company	0.10%	0.08%	0.81%	0.65%	0.40%	0.72%	0.25%	0.29%	0.42%	0.25%	0.19%	0.53%
UEC Uranium Energy Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both HL and UEC in my portfolio?

HL and UEC have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HL or UEC?

UEC has higher volatility (35.27%) compared to HL (22.72%). In terms of maximum drawdown, HL dropped -97.92% vs UEC's -97.40%.

Which has better risk-adjusted returns?

HL currently has the higher Sharpe Ratio (2.16 vs 0.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.