You are here

Prices & Quotes - UK Markets - Hochschild Mining (HOC)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 217.00p
Change Today:
6.00p
Market Cap:
1,115.11m
Sector:
Mining

Hochschild scraps dividend as Covid-19 takes shine off profits

By Frank Prenesti

Date: Wednesday 19 Aug 2020

LONDON (ShareCast) - (Sharecast News) - South America-focused miner Hochschild reported a sharp fall in profits and scrapped its interim dividend on Wednesday as operations were shuttered during the coronavirus lockdown.
Adjusted core earnings almost halved to $80.65m as revenue fell to $232m from $354m a year ago, despite higher gold and metal prices. The company recorded a pre-tax loss of $9m from continuing operations compared to a $16.7m profit year on year.

Hochschild said it hoped to cash in on record commodities prices in the second half "provided our people are able to operate safely and experience less disruption".

Production was 126,835 gold equivalent ounces, down from 239,090 gold equivalent ounces a year ago as mines in Chile and Argentina were forced to close for more than two months.

The company had to stop operations at the Inmaculada mine in Peru for most of July when a number of employees tested positive for the coronavirus. At Inmaculada, production was down 40% year on year at 79,600 ounces with production having restarted on 28 July and full capacity expected to be reached by the end of August.

At Pallancata, also in Peru, production fell 63% to 1.8m ounces, while at Argentina's San Jose mine, production was down 40% at 4.4m ounces, reflecting a shorter stoppage with operations restarting on 27 April.

Hochschild said current Argentinian government restrictions on movement "led to a slow and difficult remobilisation and ramp up process that is now expected to be complete by the end of the third quarter".



"This year has seen precious metal prices continuing the strong rise which started in mid-2019 with fresh impetus coming from the significant fiscal and monetary stimulus initiated by governments and central banks in response to the Covid-19 crisis," the company said.

"Gold has recorded an all-time high recently and silver has reached its highest price level in seven years and we are therefore hopeful of delivering a strong rebound in profitability in the second half of the year...we intend to provide updated guidance when we have assessed the full impact of the suspensions."

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

HOC Market Data

Currency UK Pounds
Price 217.00p
Change Today 6.00p
52 Week High 317.40p
52 Week Low 92.55p
Volume 1,114,634
Shares Issued 513.88m
Market Cap 1,115.11m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. empty market
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Income
market
  1. empty market
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
P/E
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
PEG
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Dividend Yield
market
  1. empty market
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
EPS Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
Operating Margin
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. half sector star
  4. empty sector
  5. empty sector

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HOC Dividends

  Latest Previous
  Interim Final
Ex-Div 29-Aug-19 16-May-19
Paid 19-Sep-19 12-Jun-19
Amount 2.00¢ 1.96¢

Trades for 29-Oct-2020

Time Volume / Share Price
16:35 417 @ 217.00p
16:35 358 @ 217.00p
16:35 1,433 @ 217.00p
16:35 887 @ 217.00p
16:35 1,275 @ 217.00p

HOC Key Personnel

Chair Eduardo Hochschild
CEO Ignacio Bustamante