Latin American precious metals miner Hochschild Mining posted its highest-ever first-half profit, driven mainly by strong gold and silver prices, and said it was on track to meet its full-year production target.
Spot gold prices soared to an all-time high above $1,910 on Tuesday, scoring a record top for a fourth consecutive session, while spot silver rose to $44.14, its strongest since early May.
Hochschild, which has a full-year production target of 22.5 million attributable ounces of silver, also raised its interim dividend by 50 percent to $0.03 per share.
January-June post-tax profit rose 137 percent to $92.0 million. Revenue jumped 62 percent to $496.8 million.
However, first-half silver output fell 13 percent to 7.3 million attributable ounces, hurt mainly by a decline in grade at its two main Peruvian operations. Gold production also declined 13 percent to 63,300 attributable ounces.
Production was also hurt by a workers' strike at the company's core San Jose mine in Argentina that led to a loss of 18 days of output.
Hochschild's shares, which have shed about 14 percent in value over the past three months, closed at 458 pence on Monday on the London Stock Exchange, valuing the business at 1.52 billion pounds ($2.5 billion).