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Good to see that at least one broker raised their target for HOC after this week's Capital Markets presentation. RBC Capital Markets upgrade their investment rating to Outperform and raise the price target from 200p to 255p. A modest 27.5% increase!
Couldn't agree more Tiger! With all the development opportunities confirmed in both greenfield and brownfields and JV's in numerous places in the Americas, I'm very surprised with the modest share price reaction since yesterday and low valuation in general. They confirmed 10-12 years add. lifespan of the low-cost producing cashcow Immaculada mine (with lots of further dev. opportunities in surrounding area), improved cashflow despite current (low) silver/gold prices, improved cost management throughout the business and contribution to bottom line by the early repayment of bonds in previous quarter, I think this is a very safe and stable investment case with the benefit of great development potential in the long run. Add to that, you have a very knowledgeable management and strong shareholding interest in the family Hochschield who's runned the company in generations - they really know their business. I would not like to be without it once PMs start moving up, because HOC usually jumps fast... Very surprised if analysts don't give some thumbs up after analysing the capital markets update.
Agree with you Leeds the dollar direction being the main reason for this drop, the US tax bill and the rates decision being key to this. I think if there is no rate hike (which is a possibility), or the government debt ceiling level can't be agreed (8 Dec) we may perhaps be in for a surprise rally though...
Always a trusty sign when the CFO load up stocks... Nicholas Keveth is adding �20,834 of AVON: https://otp.tools.investis.com/clients/uk/avon_rubber_plc/rns/regulatory-story.aspx?cid=820&newsid=953707
Couldn't be more true than in HOC's case #GingerT :) from a 222.50 low yesterday to 232.30 now.. enough for a top spot of the UK miners index today. Wish I was able to understand the drivers of this stock, because surely PM prices is not all the story..