HCHDF - Hochschild Mining: A Slow Start To The Year
- Hochschild Mining released its preliminary Q1 results this week, reporting quarterly production of ~80,900 gold-equivalent ounces, a 12% decline from the year-ago period.
- This has continued a trend of sharply declining production across its assets, with production down ~30% from pre-COVID-19 levels.
- The good news is that Posse should provide a boost to production in 2024, and while output continues to slide, a lot of negativity looks priced into the stock.
- At a share price of US$1.49, Hochschild is cheap, but with the stock in the middle of its range, I see the low-risk buy point at US$1.25 or lower, where it would head closer to key support.
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Hochschild Mining: A Slow Start To The Year