UK's Griffin Mining H1 revenue rises 21% to record on higher metal prices

Griffin Mining

10/09/2026 07:11

Overview
UK zinc and precious metals miner's H1 revenue rose 21% yr/yr to record level
Net income and EPS for H1 more than doubled from prior year
Company spent $14.2 mln on share buybacks during H1

Outlook
Company expects reduced throughput rate to continue for remainder of 2026 and into early 2027
Production levels expected to remain variable, dependent on operational and tailings management limitations
Full budgeted production from Zone II to commence after Safety Permit, expected in last quarter of 2026

Result Drivers
HIGHER METAL PRICES - Co said increased market prices for zinc, gold, silver, and lead contributed to higher revenue
IMPROVED ORE GRADES - Higher grades for zinc, lead, and silver partly offset lower production volumes
LOWER SMELTER CHARGES - Reduced smelter treatment charges supported revenue growth

Company press release: ID:nRSJ1094Ua

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
$77.29 mln
 
H1 EPS
 
$0.12
 
H1 Net Income
 
$20.98 mln
 
H1 Basic EPS
 
$0.12
 
H1 EBIT
 
$28.24 mln
 
H1 Gross Profit
 
$42.57 mln
 
H1 Pretax Profit
 
$28.54 mln
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the diversified mining peer group is "buy."
Wall Street's median 12-month price target for Griffin Mining Limited is GBp380.00, about 31% above its September 9 closing price of GBp290.00
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 25 three months ago

Reuters Recommended Reads
Sept 7 - UK semiconductor supplier IQE's H1 revenue surges on photonics, wireless growth
Sept 9 - Chile proposes market reform to boost junior mining exploration
Sept 8 - Congo extends state control over mining with bid to lock down geological data

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)