Hummingbird Resources (HUM)

Sector:

Mining

Index:

FTSE AIM All-Share

5.64p
   
  • Change Today:
    -0.060p
  • 52 Week High: 19.80
  • 52 Week Low: 4.75
  • Currency: UK Pounds
  • Shares Issued: 799.37m
  • Volume: 1,654,591
  • Market Cap: £45.08m

Berenberg cuts target price on Hummingbird Resources

By Iain Gilbert

Date: Thursday 04 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg slashed their target price on Hummingbird Resources from 62.0p to 39.0p on Thursday following the group's fourth-quarter production miss.
Hummingbird has released fourth-quarter production of 22,000 from its Yanfolila mine in Mali, taking production for the year to 101,000 and missing consensus estimates of 25,700 ounces and 105,000, respectively.

Gold sold during the quarter was 24.2m ounces at an average received price of $1,862 per ounce but weaker production drove up all-in sustaining costs for the quarter to USD1,496/oz, above our expectation of USD1,162/oz.

The German bank also noted that tonnes processed in the fourth quarter were in line at 359,000 but with a miss on grade at 2.03 grams per tonne, versus 2.5g, caused by grade reconciliation issues.

"We have a concern that this issue could have negative read-through for the broader resource," said the analysts.

As a result of the update, Berenberg retained a 'buy' recommendation on the stock despite Hummingbird facing both operational challenges associated with its Yanfolila site and logistical issues in Mali following the coup in August.

"The key upcoming catalysts should be delivering on guidance at Yanfolila and delivering on the permitting and financing package for the new Kouroussa project in Guinea that could double group production," added Berenberg.

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HUM Market Data

Currency UK Pounds
Share Price 5.64p
Change Today -0.060p
% Change -1.05 %
52 Week High 19.80
52 Week Low 4.75
Volume 1,654,591
Shares Issued 799.37m
Market Cap £45.08m

HUM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
62.17% above the market average62.17% above the market average62.17% above the market average62.17% above the market average62.17% above the market average
69.47% above the sector average69.47% above the sector average69.47% above the sector average69.47% above the sector average69.47% above the sector average
Price Trend
73.37% below the market average73.37% below the market average73.37% below the market average73.37% below the market average73.37% below the market average
38.46% below the sector average38.46% below the sector average38.46% below the sector average38.46% below the sector average38.46% below the sector average
Income Not Available
Growth
31.4% below the market average31.4% below the market average31.4% below the market average31.4% below the market average31.4% below the market average
43.75% below the sector average43.75% below the sector average43.75% below the sector average43.75% below the sector average43.75% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HUM Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 32,489 @ 5.64p
16:35 12,489 @ 5.64p
16:35 2,511 @ 5.64p
16:35 17,489 @ 5.64p
16:29 17 @ 5.80p

HUM Key Personnel

Finance Director Thomas Hill

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