The article says mining companies enter the third-quarter 2026 earnings season with gold, silver and copper prices well above year-ago levels, after gold and silver retreated from earlier record highs. Gold averaged about $4,305 per ounce in the quarter, up 23% year over year, silver averaged $63.22 an ounce, 59% higher, and copper averaged around $6.53 per pound. Zacks projects the Basic Materials sector's earnings to rise 29.1% on 6.2% revenue growth. It names five royalty and mining companies, FreeportMcMoRan (FCX), Franco-Nevada (FNV), Lundin Mining (LUNMF), OR Royalties (OR) and Wheaton Precious Metals (WPM), as likely to beat estimates. For FCX, Q3 copper production was about 830 million pounds and gold production 230,000 ounces, while its consolidated copper sales are estimated near 750 million pounds, and higher input costs, especially fuel and energy, are likely to have partially offset the price gains.
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