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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:
Down 215.00p
Change Today:
-10.00p
Market Cap:
1,104.83m
Sector:
Mining

Hochschild Mining tumbles after chairman sells 61.7m shares

By Michele Maatouk

Date: Thursday 03 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Shares in Hochschild Mining plunged on Thursday after JPMorgan placed 61.7m shares in the gold miner at 200p each for Pelham Investment Corporation, which is owned by the company's chairman, Eduardo Hochschild.
Following the share placing, which represents a stake of approximately 12%, Eduardo Hochschild will own around 197m shares in the company, or 38% of its issued share capital.

The placing price represents a 16% discount to the stock's closing price on Wednesday.

The company said Eduardo Hochschild will continue to serve as chairman and Pelham Investment will retain the right to nominate up to two directors to the board.

"Mr Hochschild confirms he has no intention to reduce his shareholding to a level where these entitlements would lapse," it said.

"Mr Hochschild reiterates his firm belief in the company's future and his confidence in the company's current management team to continue delivering strong operating results as they have done this year in exceptionally challenging circumstances.

"He believes the company's growth strategy has the potential to create significant shareholder value and he looks forward to sharing in this value creation process with fellow shareholders with his significant remaining holding. Furthermore, the placing provides an opportunity to increase the free float of the company which in turn should enhance liquidity to the benefit of all shareholders."

At 0920 GMT, Hochschild shares were down 14% at 204.40p.

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 215.00p
Change Today -10.00p
52 Week High 317.40p
52 Week Low 92.55p
Volume 3,245,682
Shares Issued 513.88m
Market Cap 1,104.83m
Beta 0.01

Performance Indicators

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EPS Growth
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Operating Margin
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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
  Final Interim
Ex-Div 06-May-21 03-Dec-20
Paid 02-Jun-21 31-Dec-20
Amount 2.33¢ 4.00¢

Trades for 26-Feb-2021

Time Volume / Share Price
16:37 250,000 @ 215.49p
16:37 3,487 @ 215.00p
16:37 13,028 @ 215.49p
16:35 688,115 @ 215.00p
16:29 9 @ 216.00p

HOC Key Personnel

Chair Eduardo Hochschild
CEO Ignacio Bustamante