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Hochschild Mining PLC (LSE:HOC) and Fresnillo PLC (LSE:FRES) led London's mining sector lower on Thursday as falling gold and silver prices hit precious metals producers. Hochschild fell 1.8%, Endeavour Mining PLC (LSE:EDV) lost 1.8%, Pan African Resources PLC (LSE:PAF) shed 1.5% and Fresnillo dropped 1.3% in early trading.

Fresnillo PLC (LSE:FRES) led the FTSE 100 fallers on Tuesday, dropping 5.4% to 2,844p as the silver price slumped. The miner is the world's largest primary silver producer and Mexico's biggest gold digger, leaving it heavily exposed to both metals.

Fresnillo (FNLPF) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Shares in heavyweight miners, including Anglo American PLC (LSE:AAL) and Fresnillo PLC (LSE:FRES), topped the FTSE 350 leaderboard on Wednesday as metals prices rose on hopes of easing tensions in the Middle East. The moves followed gains in metals prices, with gold up 2.6%, silver rising 4.6% and copper gaining 2.0%, while oil prices fell by a similar amount.

The miner's silver production fell 8.5% in the first quarter of 2026 on lower ore grades and lower volumes processed at its Saucito, Fresnillo and Juanicipio mines.