Hochschild Mining plc Q2 2026 Earnings Recap

Hochschild Mining’s shares rose 7.5% post-earnings, reflecting the market’s positive response to significant revenue and adjusted EBITDA gains driven primarily by higher metal prices and operational recovery, despite cost pressures and currency headwinds.

Key Takeaways

• Revenue increased 62% to $844 million, mainly due to stronger gold and silver prices.
• Adjusted EBITDA rose 119% to $492 million, supported by improved operations in Brazil and cost control initiatives.
• Production was stable with 150,000 ounces produced; all-in sustaining cash costs moderated at $2,448 per ounce but impacted by inflation, currency moves, and price-linked royalties.
• Free cash flow remained robust at approximately $156 million, enabling $80 million debt reduction and $84 million dividend payments.
• Guidance for full-year production and CapEx ($210–225 million) was confirmed, with ongoing investment in key projects including Mara Rosa and Monte do Carmo.