EXHIBIT 12.1

Hecla Mining Company

Fixed Charge and Preferred Dividend Coverage Ratio Calculation

For the Years Ended December 31, 2014, 2013, 2012, 2011 and 2010

	Year Ended December 31,
	2014		2013			2012		2011		2010
Net income (loss) before income taxes	$	12,584	$	(34,925	)	$	23,833	$	233,142	$	(74,549	)
Fixed charges:
Interest portion of rentals		1,189		1,592			1,044		1,014		695
Total interest costs		38,528		28,174			2,427		2,875		2,211
Total fixed charges		39,717		29,766			3,471		3,889		2,906
Total earnings (loss)	$	52,301	$	(5,159	)	$	27,304	$	237,031	$	(71,643	)
Preferred stock dividend requirements	$	552	$	552		$	552	$	522	$	13,633
Ratio of pre-tax income (loss) to net income (loss)	$	0.71	$	0.72		$	1.59	$	1.54	$	(1.52	)
Preferred stock dividend factor	$	552	$	552		$	878	$	850	$	13,633
Ratio of earnings to fixed charges		1.3	(na)				7.9		60.9	(na)
Ratio of earnings to fixed charges and preferred dividends		1.3	(na)				6.3		50.0	(na)
Coverage deficit:
On fixed charges	$	—	$	34,925		$	—	$	—	$	74,549
On fixed charges and preferred dividends		—		35,477			—		—		88,182