Fresnillo Surges on Tripled Profit and Higher Prices

Fresnillo's profit more than tripled in the first half of 2026 due to sharply higher silver and gold prices, driving a significant increase in revenue. The Mexico-focused miner reported an exceptional financial performance, with revenue rising 74.7% to $3,382.6m.

The company's profit for the period jumped 213% to $1,463.4m, largely due to average realised silver prices climbing 134.4% to $78.9 an ounce and gold prices increasing by 47.3% to $4,666.8 an ounce. However, attributable silver production fell 11.4% and gold output dropped 7.3%, while adjusted production costs rose 20.5%.

The board more than doubled the interim dividend to 43.4 US cents per share, taking the total payout to $319.8m. Chief executive Octavio Alvídrez attributed the success to a combination of solid operational execution and cost discipline.