JPMorgan Lifts Hochschild Target to 990p and Tightens Private Credit Lending
JPMorgan upgraded Hochschild Mining to overweight, lifting its price target from 890p to 990p and forecasting EBITDA of $1.1bn in 2026 and $1.2bn in 2027. It also restricted new lending to private credit firms after marking down loans, reflecting caution on leveraged finance exposures.
1. Hochschild Mining Upgrade
JPMorgan upgraded Hochschild Mining to overweight and raised its price target from 890p to 990p, citing surging gold and silver prices. The bank forecasts EBITDA of $1.1bn in 2026 and $1.2bn in 2027—around 90% and 100% growth—supported by a pipeline aiming for 50% volume expansion by 2030, led by the Monte Do Carmo project.
2. Restriction on Private Credit Lending
JPMorgan restricted new lending to private credit firms after marking down certain loan values, reflecting a cautious posture on leveraged finance amid portfolio revaluation. The move indicates heightened scrutiny on credit exposures as the bank manages potential risks in alternative asset lending.