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FTSE 250 movers: Hochschild slumps on output cut
(Sharecast News) -
FTSE 250 (MCX) 21,796.73 -1.27%
Hochschild Mining cut its full year production target after problems at its Mara Rosa operation in Brazil due to weather and contractor performance issues.
The company now expects to produce 291,000- 319,000 gold equivalent ounces, down from a prior forecast of 350,000-378,000 ounces. Mara Rosa's production target was revised down to 35,000-45,000 ounces from 94,000-104,000.
Hochschild's interim adjusted core profit rose 27% to $225m on the back of soaring gold prices due to US President Donald Trump's global tariff war as investors sought a safe haven for their cash.
Production guidance for the Inmaculada mine in Peru and the San Jose operation in Argentina remained unchanged.
"Mara Rosa experienced a challenging first half of the year, with operations impacted by heavier-than-usual seasonal rainfall and contractor performance issues," said chief executive Eduardo Landin.
"These conditions restricted access to higher-grade zones within the pit and further exacerbated existing issues with filtering processes and delaying efforts to recover from mine waste removal backlogs carried over from 2024."
FTSE 250 - Risers
Burberry Group (BRBY) 1,305.50p 3.45% Rank Group (RNK) 136.20p 3.18% Raspberry PI Holdings (RPI) 432.10p 3.18% JTC (JTC) 966.00p 2.99% W.A.G Payment Solutions (WPS) 92.00p 2.91% Zigup (ZIG) 342.50p 2.24% Watches of Switzerland Group (WOSG) 332.00p 2.09% Carnival (CCL) 2,170.00p 1.93% Ithaca Energy (ITH) 224.25p 1.70% Dr. Martens (DOCS) 93.00p 1.64%
FTSE 250 - Fallers
Hochschild Mining (HOC) 264.60p -13.64% Bridgepoint Group (Reg S) (BPT) 333.00p -4.53% 4Imprint Group (FOUR) 3,380.00p -3.70% Bakkavor Group (BAKK) 234.50p -3.50% Crest Nicholson Holdings (CRST) 160.40p -2.73% Discoverie Group (DSCV) 617.00p -2.68% Caledonia Investments (CLDN) 365.00p -2.41% Avon Technologies (AVON) 1,912.00p -2.35% Rathbones Group (RAT) 1,844.00p -2.33% Close Brothers Group (CBG) 469.60p -2.21%
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