Gatos CEO Stephen Orr said plant production averaged a record 2,535 tonnes per day, above the design capacity of 2,500tpd, while silver recoveries rose from 85% in Q1 to 89%.
The strong showing meant Gatos was "progressing well" against its 2021 production guidance, Orr said.
Ryan Thompson, an analyst at BMO Capital Markets, called Gatos' performance "a good rebound from a slow start to the year".
"We are encouraged by the positive operating results delivered in Q2 and have increased our LOM silver/lead recovery assumptions, which results in our target price increasing to $14 (from $13)," said Thompson.
Shares in Gatos rose 3% on Wednesday, closing at US$18.61, capitalising the company at US$1.11 billion.
