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Fresnillo profits surge on higher gold, silver prices
(Sharecast News) - Fresnillo on Monday reported record full-year profits on the back of higher gold and silver prices but said production would be lower in 2026. Pre-tax profit for the 12 months to December 31 rose 179% to $2bn. Adjusted revenues increased 27.6% to $4.6bn and core earnings were up 80.7% to $2.8bn.
The average silver price rose more than 50% during the year, while gold prices surged 44% as geopolitical tensions drove investors to seek safe havens in precious metals.
Shareholders were rewarded with a record total dividend of 128.92 cents a share, compared with 32.5 cents in 2024.
Silver production fell 13% to 48.7 million ounces - in line with guidance - while gold output was down 5% to 600,287 ounces, still beating guidance of 525,000 - 580,000 ounces.
Fresnillo forecast attributable silver production in a range of 42.0 to 46.5 moz and gold production expected to be in the range of 500 to 550 koz.
Reporting by Frank Prenesti for Sharecast.com
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