Commodities
Fresnillo Revenue Soars 74.7% as Gold and Silver Prices Hit Records
Fresnillo's interim revenue surged 74.7% to $3.38 billion in H1 2026, driven by record gold and silver prices.
The company's financial performance is a prime example of the non-linear relationship between commodity prices and corporate earnings in precious metals mining.
Fresnillo's realised silver price increased by 134.4% to $78.90/oz, while its average realised gold price rose 47.3% year-on-year to $4,666.80/oz.
The company's operating leverage is evident in its gross profit growth of 130.7%, which outpaced revenue growth by a significant margin.