Shares in Mexico-focused miner Fresnillo slumped as much as 10% in early trade on Wednesday after the company reported about a 9% decline in first-quarter silver production, hurt partly by work stoppage at its San Julian project.
The London-listed stock hit a near two-week low of 937 pence and was the top percentage loser on the blue-chip FTSE 100 index.
The world's largest silver producer said its first-quarter production was also impacted by decreased ore grade and volume of ore processed at its Cienega mine.
The company, which is one of Mexico's largest gold producers, said its quarterly attributable gold production increased 10.8%, primarily due to the higher ore grade, increased volume of ore processed and recovery rates at the Herradura mine.
Fresnillo, however, has reiterated its annual silver and gold production forecast at a time gold prices have scaled a record high of $3 500 as investors sought the safe haven asset amid global growth uncertainty driven by a U.S.-led trade war. 