Note 11 - Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings

Fair value adjustments, net is comprised of the following (in thousands):

	Year Ended December 31,
	2025			2024			2023
(Gain) loss on derivative contracts	$	(39,445	)	$	(5,907	)	$	3,168
Unrealized gain (loss) on investments in equity securities		40,914			3,703			(243	)
Gain on disposition or exchange of investments		10,986			—			—
Total fair value adjustments, net	$	12,455		$	(2,204	)	$	2,925

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The table below sets forth our assets and liabilities (in thousands) that were accounted for at fair value on a recurring basis and the fair value calculation input hierarchy level that we have determined applies to each asset and liability category. See Note 6 for information on the fair values of our defined benefit pension plan assets.

	Balance at December 31, 2025		Balance at December 31, 2024		Input Hierarchy Level
Assets:
Cash and cash equivalents:
Money market funds and other bank deposits	$	241,558	$	26,868	Level 1
Current and non-current investments:
Equity securities		107,486		33,158	Level 1
Trade accounts receivable:
Receivables from provisional concentrate sales		170,230		31,515	Level 2
Derivative contracts - other current assets and other non-current assets:
Metal forward contracts		15,840		18,039	Level 2
Foreign exchange contracts		1,127		—	Level 2
Restricted cash and cash equivalents balances:
Certificates of deposit and other deposits		1,174		1,177	Level 1
Liabilities
Derivative contracts - current and non-current derivative liabilities:
Metal forward contracts	$	38,273	$	—	Level 2
Foreign exchange contracts		829		10,176	Level 2