BUZZ-Hochschild: Shares at 6-yr low on brokerage TP cut

lunes 8 de diciembre de 2014 05:57 GYT

** Hochschild Mining's shares hit more than 6-yr low after brokerage RBC cuts TP, saying co remains a "structurally higher cost silver miner" at prevailing metal prices

** RBC Capital Markets cuts TP to 120 pence ($2) vs 140 pence, marginally below mean analyst TP of $2.05

** At current prices, Hochschild's operations remain marginal, raising the possibility that it will forced to optimize production beyond 2015 if metal prices remain weak, RBC analyst Jonathan Guy says

** Silver, which fell 36 pct in 2013, has lost another 16.3 pct YTD, while gold has fallen a further 1 pct after tumbling 28 pct last year.

** Last month, the Peruvian miner said it expected all-in sustaining costs of $15-$16 per ounce in 2015, compared with the 2014 target of $18.30 ($1 = 0.6424 pounds) (