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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:
226.80p
Change Today:
0.000p
Market Cap:
1,165.47m
Sector:
Mining

Bitcoin may pose multi-year headwind for gold, JP Morgan says

By Alexander Bueso

Date: Wednesday 09 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Gold may be in for a bumpy ride over the medium to long-term if institutional investors continue to shift away from the yellow metal and towards Bitcoin, a JP Morgan strategist argued.

Since October, nearly $2bn had been funneled into the Grayscale Bitcoin Trust, while exchange-traded funds backed by gold had registered outflows of $7bn.

Over the short-term, the price of Bitcoin had probably overshot, strategist Nikolaos Panigirtzoglou said, according to Bloomberg.

However, should that trend continue, then on longer time scales "the price of gold would suffer from a structural flow headwind over the coming years," they reportedly said.

The investment bank estimated that family offices had just 0.18% of their assets invested in gold, against 3.3% in gold exchange traded funds and even small shifts towards Bitcoin would see billions in cash go its way.



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HOC Market Data

Currency UK Pounds
Price 226.80p
Change Today 0.000p
52 Week High 317.40p
52 Week Low 92.55p
Volume 0
Shares Issued 513.88m
Market Cap 1,165.47m
Beta 0.01

Performance Indicators

Compare performance with the sector and the market.

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Price Trend
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Income
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Growth
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Price Chg 6m
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P/E
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Dividend Yield
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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

No recent trades found

HOC Key Personnel

Chair Eduardo Hochschild
CEO Ignacio Bustamante