Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
USD down and US gov bond yields up suggests investors are dumping US gov debt and investing into assets in other currencies...makes sense given the crazy budgetary position the US are in.
Looks like the election is weighing on HOC... was hoping the market would look past it given the congress vote is done and it would be near impossible for Castillo to nationalise/significantly increases taxes on mines even if he becomes President. I still think he's a storm in a teacup and if HOC significantly lags it'll explode higher if Fujimori wins in June... or if sells off more if Castillo wins I'd be adding as there'd be even more pent up upside once people realise he won't be able to do anything.
Unfortunately I think HOC is going to be pretty flat until the election is over now unless PM prices explode higher. Bit of a shame as even if Castillo wins congress is so fragmented they won't be able to do anything drastic...but the headlines of a potential president that wants to nationalise mining should dampen sentiment. If he doesn't win though, the stock could move upwards pretty fast in June.
Good to see more institutional support for HOC coming through https://citywire.co.uk/funds-insider/news/aaa-rated-jourdan-backs-new-commodity-supercycle-with-hochschild-buy/a1466566
Good payroll numbers. Shows economy properly starting to re-open. Should see even more splashing the cash and travel pick up significantly...how can inflation not shoot up now given oil/soft commodities/base metals ralling?! But all the while debt is still extremely high, ultimately capping how much interest rates can ultimately go up by. Pretty happy long the PM miners right now.
Hopefully we'll get more numbers soon when the feasibility study is out
If silver can hold at the the 50 day MA despite the taper tantrum then should be medium term supportive once the central banks step up their actions to keep yields under control.
I think there's some credence to the tax liability reason though, this exact time last year the CEO sold 325k shares also to meet tax liabilities of vested incentives.
I'm looking at the RNS and it's saying currency USD and prices ranging between 2.98 to 3.18 which corresponds with where the shares were trading in GBP over the last week. Not sure if there's a typo in the document you're reading?
Not ideal regarding the sale... but given that the CEO's total comp for an on-target year is meant to be 60% variable pay (performance bonus and LTIPs) and i can't imagine he's going to get paid much on the variable side for last year's poor operational performance and the share price still pretty weak vs when the prior LTIPs should vest makes sense he'd want to cash a bit out to pay bills. GBP500k base salary is pretty good to live on but not enough for big purchases!
that's the USD price
Agree with Sotolo results are just ok. But given negative sentiment on the stock and problems with production through 2020 I'm happy with that...no negative surprises is good! Seems like there's some nice brownfield exploration opportunities that could lead to some nice updates through the year and should get a nice positive announcement on the rare earths project in 1H21. Hoping for some upbeat messaging from management on the results call and when they go on roadshows to meet institutional investors. If they can paint a good narrative and PM prices hold up then could see a nice upwards re-rating in the stock in the next 2-3 months.
https://articles.cruxinvestor.com/solgold-club-exclusive-company-report
wow this is happening fast!
yes but your shares are in GBP and like you said even the dividends are converted to GBP so it's the GBP value of the company and its cashflows that's important.
Agree the share price is crazy low vs where PM prices are. Note that people were celebrating how good production was in 2019, so all the problems are COVID caused, hence if management can get the narrative right on production resuming to normalised levels then this name will do very well. So lets hope management are smart when they announce full year results ...
We need gold and silver prices to properly bounce back from here but more importantly I think we need management to give confidence on production numbers for 2021 and/or giving some great updates on exploration to get us a multiple re-rating. - this way we won't just see passive money coming in from PM prices going up but you'll see more active funds getting involved...which with the limited liquidity for this stock can be very powerful.
Personally don't think they have any. It's pretty capital intensive for investment banks to hold equities on balance sheet these days.
This downgrade in target price was part of their broader 2021 metals and mining outlook piece, didn't look like much work went into analysing HOC specifically tbh.
Looks like they revised down earnings assumptions quite aggressively for 2021/22...but they're assuming slight declines in gold prices and only marginal increases in silver prices...so they're probably assuming production is weak. But I'd say HOC isn't covered that in detail there vs other shops as I think they focus more of their time on other larger cap names so wouldn't put much weight on their forecasts....they seem to be chasing the share price rather than the other way round.
Thanks. Interesting to get someone looking at it from the rare earths angle.
Vaccinations over the next 6 months will be key...again it's a risk as so far governments have not been great at distribution, but you'd think in 6 months time we'd be in a much better place. Also, I never bought the vaccinations is bad for gold price argument either. For inflation to seriously pick up you need economic activity to get back to normal (after a period of aggressive stimulus and capacity cuts), which needs vaccines to work. The top in gold prices didn't come until 2011 after the GFC, and I think the same situation will play out here where the top won't come until economic activity starts normalising.