Hochschild delivers sharp H1 profit growth, warns on rising costs
By Iain Gilbert
Date: Wednesday 26 Aug 2026
(Sharecast News) - Precious metals miner Hochschild Mining posted a sharp jump in first‑half revenue and profits on Wednesday, though it also flagged a notable rise in attributable all‑in sustaining costs.
Hochschild said revenues surged 62% year‑on‑year to $844.4m, with adjusted underlying earnings up 119% at $491.5m and pre-tax profits climbing from $109.3m to $365.8m. Basic earnings per share rose to $0.37, while Hochschild's balance sheet swung to $51.1m of net cash from $20m of net debt at year‑end.
The FTSE 250-listed firm also declared an interim dividend of $0.04 per share, up from $0.01 a year earlier.
However, Hochschild also said attributable production for the half came in at 151,830 gold‑equivalent ounces, down from 165,176 ounces in H125, with attributable AISC rising to $2,448 per ounce from $1,873 per ounce a year earlier.
Hochschild also said higher royalties, workers' profit‑sharing, selling expenses, stronger local currencies and continued cost inflation in Argentina had prompted a revision to its full‑year AISC guidance, now set at between $2,380 and $2,500 per ounce.
Operationally, Hochschild said the turnaround at its Mara Rosa asset was progressing as planned, supported by improved contractor performance and efforts to access higher‑grade zones, ease haulage constraints and optimise tailings and water management. It added that development work continued at Monte do Carmo, with an investment decision expected by year‑end, while an environmental impact assessment at Royropata has been submitted in Peru.
Full‑year production guidance was reiterated at 300,000 to 328,000 gold‑equivalent ounces, with sustaining and development capex unchanged at $210 to $225m.
As of 0915 BST, Hochschild shares were up 3.68% at 648.51p.
Reporting by Iain Gilbert at Sharecast.com
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