Hochschild Mining reported a 62% increase in first-half 2026 revenue to $844.4 million and a 119% rise in adjusted EBITDA to $491.5 million, driven by sharply higher gold and silver prices. Profit before income tax rose to $365.8 million from $109.3 million a year earlier, while basic earnings per share increased to $0.37 from $0.12. Attributable production fell to 151,830 gold equivalent ounces, or 11.7 million silver equivalent ounces, from 165,176 gold equivalent ounces, and all-in sustaining costs rose to $2,448 per gold equivalent ounce from $1,873. Average gold prices increased 47% during the period and silver prices rose 130%. RBC Capital Markets analyst Marina Calero said the results should prompt a neutral investor reaction because most metrics had already been reported and the remaining figures were in line with expectations. She expects the shares to recover through the rest of the year as gold and silver prices improve and production at the Mara Rosa open-pit gold mine in Brazil increases. Shares closed Tuesday at 625.50 pence. Hochschild said its Mara Rosa turnaround was progressing as planned and reiterated its 2026 production and capital-spending targets, but raised its all-in sustaining cost guidance to $2,380-$2,500 per gold equivalent ounce.