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Hochschild still faces a sceptical market

The miner has dropped well beyond peers already struggling from weaker precious metals interest, while a dividend announcement delay won’t help
Hochschild still faces a sceptical market
  • Profits climb on higher silver and gold prices
  • Interim dividend announcement delayed because of reserves issue
IC TIP: Buy at 155p

The historically strong silver and gold prices of this year helped Hochschild Mining (HOC) in the first half, which posted higher profits despite rising costs. Silver and gold aren’t as lofty as last year but $25 (£18) an ounce (oz) and $1,800 an ounce (oz) respectively were still enough for a healthy increase in free cash flow at Hochschild, from negative territory last year to $54m. 

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