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

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Share Price:
Up 207.00p
Change Today:
0.20p
Market Cap:
1,063.72m
Sector:
Mining

Hochschild Mining earnings fall due to Covid-related stoppages

By Michele Maatouk

Date: Thursday 18 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Precious metals miner Hochschild Mining reported a drop in full-year earnings on Thursday as Covid-related stoppages dented production and offset higher gold and silver prices.
In the year to the end of December 2020, adjusted earnings before interest, tax, depreciation and amortisation fell to $270.9m from $343.3m in 2019, with revenue down to $621.8m from $755.7m. Pre-tax profit declined to $62.9m from $76.8m, even as the company saw a 28% rise in the average realised gold price achieved and a 35% jump in the silver price.

Hochschild said the year was impacted by events beyond its control and it was forced to shut all three of its operations in mid-March as both its host countries took steps to contain the spread of the coronavirus.

Despite a relatively quick restart in May, both the Inmaculada and San Jose mines experienced additional Covid-related stoppages, although Pallancata in Peru operated without interruption for the remainder of the year.

"Nevertheless, we were able to reconfigure our mine plans and I was pleased to see us meeting our revised annual production and costs targets," it said.

"We entered the crisis with a strong balance sheet which enabled us to finance the additional Covid-related expenses required by the business. In addition, with precious metal prices rising significantly, our business was able to generate strong free cashflow despite the ongoing disruption."

Hochschild also said the pandemic has resulted in substantial delays in permitting for exploration and operations for this year and beyond but that it is working hard to overcome the delays.

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HOC Market Data

Currency UK Pounds
Price 207.00p
Change Today 0.20p
52 Week High 317.40p
52 Week Low 121.20p
Volume 1,792,399
Shares Issued 513.88m
Market Cap 1,063.72m

Performance Indicators

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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 16-Apr-2021

Time Volume / Share Price
16:36 521 @ 207.00p
16:35 163,243 @ 207.00p
16:29 45 @ 207.40p
16:29 68 @ 207.40p
16:29 25 @ 207.40p

HOC Key Personnel

Chair Eduardo Hochschild
CEO Ignacio Bustamante