Fresnillo keeps 2026 guidance despite lower third-quarter silver and gold output - Yahoo Finance UK

AI desk brief

Fresnillo kept 2026 guidance unchanged despite weaker Q3 production, with silver output down 12% YoY to 10.0Moz and gold output down 11% YoY to 135koz. Year-to-date, silver production is down 12% to 32.0Moz and gold is down 8% to 426koz, mainly due to lower grades and reduced processing at Juanicipio, Saucito, San Julián, Herradura and Noche Buena.

The company still targets 42Moz-47Moz of silver and 500koz-550koz of gold for the full year, implying a second-half recovery. Fresnillo said it remains on track to meet its guidance, while the Fresnillo mine offset some weakness with a 75% YoY jump in quarterly gold output to nearly 17koz.