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Share Price Forecast Tool (August 2026)

Don Durrett Aug 23, 2026

Summary

A share price forecast tool turns production, share count, cost, and silver price assumptions into 12-month and three-year return scenarios for miners.

Durrett models Hecla at roughly a double in 12 months near $110 silver, and a four- to five-bagger at $200 silver in three years.

Developer Vizsla Silver prints the biggest scenarios: a 30-bagger at $200 silver and 40-bagger at $250 silver, with $480 million cash limiting dilution.

AISC (all-in sustaining cost — what it fully costs to produce an ounce) and the price-to-cash-flow multiple are the main levers besides metal price.

He adjusts developer share counts for expected dilution and capex (upfront capital spending), and expects producer buybacks to shrink share counts.

Key points on Hecla Mining Company

  • Don's model has Hecla roughly doubling within 12 months only if silver reaches an all-time high near $110, while his three-year case at $200 silver makes it a four- to five-bagger with a target around $100.
  • GoldStockData currently rates Hecla a five-bagger — about 520% upside with a $128 target — which Don reproduces using future fully diluted market cap and cash-flow growth rather than resources.
  • He puts Hecla's current free cash flow at about $650 million, growing toward $3 billion, on all-silver production with an AISC around $17.
  • Don expects Hecla to keep buying back shares, so he holds the share count roughly flat in the three-year case instead of adding dilution.
  • In tail scenarios, $250 silver makes Hecla a six-bagger and $300 an eight-bagger, and a 33 multiple would mean a nine- or ten-bagger.

Key points on Vizsla Silver

  • Don calls Vizsla Silver 'really, really cheap' — it does not even trade at a 1x multiple in his tool — and his base developer case prints a 30-bagger at $200 silver around 2028.
  • He notes Vizsla holds about $480 million of cash against roughly $250 million of capex, so it should not need to dilute, with construction targeted for 2027 and production in 2028.
  • He models an 18-million-ounce-per-year silver mine — likely closer to 20 million in year one, he says — long life and high grade, with a stated AISC near 15 that he treats as optimistic.
  • Across scenarios he gets roughly a 20-bagger at $150 silver, 30 at $200, and about 40 at $250 silver with a 40 multiple, on free cash flow approaching $4 billion.
  • He says the risk-reward works and the project 'has to get built,' while conceding it might never be built because of the cartel.

Don Durrett's takeaways

  • Top takeaway Don demonstrates his GoldStockData share price forecast tool, which values miners on future fully diluted market cap and cash-flow growth — never on resources — across 12-, 24-, and 36-month horizons.
  • His near-term call on Hecla is muted: it needs an all-time-high silver price near $110 just to double in 12 months, though he sees a four- to five-bagger in three years at $200 silver.
  • His strongest conviction is in Vizsla as a really cheap, fully funded developer with, in his words, 'absolutely massive' leverage to the silver price.
  • He stresses adjusting the multiple and share count for expected dilution or buybacks, and expects producers like Hecla to shrink their share counts through buybacks.

Michael Oliver's takeaways

  • Top takeaway Don invokes 'Michael Oliver crazy' as his shorthand for the most extreme silver scenario, using $300 silver to model an eight-bagger in Hecla.