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Investors who think the prices of gold and silver will continue running higher might want to take a position in small-cap stock Hecla Mining (NYSE: $HL ).

While not widely known, the Idaho-based miner of gold and silver has seen its share price explode this year.

So far in 2025, HL stock has nearly tripled, rising 195% to trade at $15.53 U.S. The gains this year have outpaced most high-flying technology stocks tied to artificial intelligence (A.I.).

The big run-up in Hecla Mining's stock comes as both gold and silver experience their biggest price increases in a generation.

Year-to-date, the price of gold has risen 60% to reach an all-time high above $4,300 U.S. an ounce in mid-October.

Silver's run has been even more dramatic, with the metal's price gaining more than 70% on the year and reaching a record high of more than $50 U.S. an ounce.

Silver has reached its first new all-time high since 1980.

Investors and central banks are buying both gold and silver as they pile into safe haven assets amid continued geopolitical uncertainty and market volatility.

The record prices for gold and silver have supercharged Hecla Mining's financial results and lit a fuse under the company's share price.

A year ago, HL stock was trading for less than $5 U.S. a share. How long the bull run lasts will depend on the price of gold and silver remaining elevated.

However, many commodities analysts expect the prices of gold and silver to continue running higher as global demand for the precious metals shows no signs of abating.

The skyrocketing share price has given Hecla Mining a rich multiple, with the stock currently trading at 51 times future earnings estimates.

And with a market capitalization of $10.41 billion U.S. it is starting to push beyond small-cap range.

But with the precious metal rally expected to continue, Hecla Mining could be a smart way to play the trend.