Highlights

  • Hochschild Mining reported a 32.74% year-on-year increase in revenue to USD 520.01 million in H1 FY25
  • The company achieved a net margin of 12.00% in H1 FY25, compared with 0.70% in the prior year, supported by improved earnings and commodity pricing dynamics.
  • HOC recorded a 29.20% rise in profit after tax to USD 66.49 million in H1 FY25
  • The company expects production to increase by 21% in 2026, driven by progress at the Mara Rosa mine and stable performance across core operations.

Hochschild Mining PLC (LSE:HOC) is a UK-listed precious metals producer and a constituent of the FTSE 250 index. The company focuses on the exploration, extraction, processing and sale of gold and silver. Its operating portfolio comprises the Inmaculada mine in southern Peru, the San Jose mine in Argentina, and the Mara Rosa mine in Brazil. In addition, Hochschild maintains a pipeline of development-stage assets across Peru, Argentina, Brazil and Chile.

Financial Performance

During H1 FY25 ended 30 June 2025, the company delivered a favourable improvement in financial performance, supported by higher revenues and improved profitability. Revenue rose to USD 520.01 million, up from USD 391.74 million in H1 FY24, representing a year-on-year increase of 32.74%. The uplift reflects improved operational execution and favourable market conditions during the period.

Gross profit increased to USD 192.26 million in H1 FY25, compared with USD 143.60 million in H1 FY24, marking a 33.90% year-on-year rise. This growth highlights better cost absorption and favourable margins across operations. Profit after tax also recorded an increase of 29.20% year-on-year, reaching USD 66.49 million, up from USD 51.48 million in the prior corresponding period.

Margin performance strengthened meaningfully over the period. The operating margin expanded to 21.40% in H1 FY25, a notable improvement from 7.70% in H1 FY24, and higher than 13.70% recorded in H1 FY23, reflecting enhanced operational efficiency. Similarly, the net margin rose to 12.00% in H1 FY25, compared with 0.70% in H1 FY24 and 1.80% in H1 FY23, supported by improved profitability and favourable commodity pricing dynamics.

Company Outlook

For 2026, the company expects production to rise by 21%, supported by the steady progress at Mara Rosa and consistent performance across core operations. Exceptionally favourable commodity prices—while contributing to some cost pressures—are anticipated to significantly boost cash flow generation and enhance profit margins.

Top 10 Shareholder

The top 10 shareholders collectively own about ~58.54% of the company's total shares. Hochschild Beeck (Eduardo) and ProFuturo AFP hold maximum stakes in the company at ~38.27% and ~3.94%, respectively.

Stock Information

HOC is down by ~4.52% in the last week while gaining approximately ~117.10% over the last three months. The stock has a 52-week high and 52-week low of GBX 768.50 and GBX 170.00, respectively, and is currently trading above the average of 52-week high-low level.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 3 February 2026. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.