(Alliance News) - Hochschild Mining PLC said it hopes to attract US investors as its shares begin trading on the OTCQX Best Market on Friday.
The London-based silver and gold mining business said its inclusion on the OTCQX market will increase its visibility to US investors. Investors "who have shown a strong historical appetite for investing in non-US stocks as well as the global mining sector," said Chief Executive Ignacio Bustamante.
"We expect Hochschild's focus on silver and gold and also on rare earths to be of particular interest to US investors and we are optimistic that this interest will translate into increased US ownership of our shares," Bustamante added.
The OTCQX market is the highest quality tier of the OTC markets, based in New York City, and trades 10,000 US and global securities. The company's shares will be traded on the OTCQX under the ticker HCHDF.
Hochschild Mining will continue to trade on the London Stock Exchange.
In April, company said that despite a production dip in the first three months of 2021 it was "on track" to deliver its output target of 360,000 to 372,000 gold equivalent ounces for this year. Total gold equivalent output in 2020 was around 344,540 ounces so, at a minimum, Hochschild expects growth of 4.5%.
Hochschild Mining shares were down 1.5% at 162.20 pence each in London on Friday morning.
By Scarlett Butler; scarlettbutler@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Hochschild (HOC)
