Hochschild Mining PLC's (LSE:HOC, OTCQX:HCHDF) shares climbed 8% following a robust first-half operational update, driven by solid performances at its Inmaculada and San Jose mines.
The company reported attributable production of 161,600 gold equivalent ounces and 13.4 million silver equivalent ounces in the first half.
Despite ongoing challenges at the Mara Rosa mine in Brazil, including a temporary plant suspension for maintenance and filter repairs, mining operations continue as planned.
The company’s cash position rose to $110 million, with net debt reduced to $203 million after dividend payments and a $13 million buyback of a streaming agreement.
Hochschild is expected to provide revised 2025 guidance with its interim results in late August.
The firm also progressed exploration at the Monte Do Carmo project and strengthened its ESG commitment by joining the United Nations Global Compact, reinforcing its focus on sustainable mining practices.
"Having lagged peers following the issues at Mara Rosa, the updates look set to open out a recovery, in our view," Peel Hunt, which also said second quarter production was a touch higher than expected.
The broker says 'buy' up to 290p. The shares were up 20.84p at 289.84p.