MOSCOW, May 10. /TASS/. Polymetal shares rose by over 5% at the start of the trading session on the Moscow Exchange on Wednesday after the company published operating results for the Q1 of 2023.

As of 10:18 Moscow time, the company's shares grew by 5.15% to 667.8 rubles ($8.64) per share. By 10:28 Moscow time, the company's shares traded at 662.5 rubles ($8.6) per share (+4.31%).

Polymetal reported earlier it reduced production by 5% in the Q1 of 2023 to 345,000 ounces of gold equivalent. At the same time, the company’s revenue for January-March 2023 increased by 19% to $733 mln due to the stabilization of distribution channels and the reduction of inventories amid high gold prices.