Shares round-up: investor reaction to three positive updates
There’s something to like about this trio today, with some analysts talking up the prospects of a share price rerating. Graeme Evans runs through their numbers.
22nd April 2026 15:23
by Graeme Evans from interactive investor
Positive updates by Hochschild Mining (LSE:HOC) and tech-focused GB Group (LSE:GBG) and Pinewood Technologies Group (LSE:PINE) today failed to power their shares during a cautious session for the UK stock market.
The FTSE All-Share mirrored the flat performance of the FTSE 100 index as a $100 a barrel oil price and uncertainty over the reopening of the Strait of Hormuz kept investors on the sidelines.
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FTSE 250-listed Hochschild Mining edged up 3p to 660.5p after it reported another quarter of strong cash generation and said it was on track to meet its production and cost guidance.
The gold and silver miner’s robust start to the financial year follows a strong operational performance at its flagship Inmaculada mine in Peru, as well as progress with the turnaround of its Mara Rosa facility in Brazil.
It is also targeting third-quarter approval for its Monte Do Carmo gold project in Brazil, while an environmental impact study for the Royropata silver project in Peru is making headway.
Average realisable precious metal prices in the quarter jumped to $4,471 an ounce for gold and $89.80 an ounce for silver, up 65% and 170% respectively from a year earlier.
It swung to a net cash position of $95 million (£70.3 million) at the end of the first quarter, having recorded net debt of $22.7 million on 31 December.
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RBC Capital Markets said: “We continue to see Hochschild as offering compelling exposure to gold and silver and expect shares to re-rate as the group ramps up production at Mara Rosa, and brings Monte Do Carmo and Royropata into production.”
The bank and fellow analysts at City firm Peel Hunt have price targets of 920p, which would exceed the record close level of 808p at the end of February.
Pinewood Technologies, which provides AI-enhanced software for car dealerships, edged up 2.5p to 244p after the former private equity takeover target used annual results to reiterate its medium-term growth ambitions.
The current share price is less than half the 500p that former FTSE 250-listed Pinewood told a bidder that it was minded to accept if a firm offer materialised.
However, Apax walked away from a potential £575 million deal on 13 February. It blamed “prevailing challenging market conditions” as stocks across the software-as-a-service (SaaS) sector fell sharply on the back of AI disruption fears.
The shares dropped as far as 208p earlier this month, which compares with the price target of 670p by analysts at Berenberg.
Pinewood, which secured its independence following the sale of Pendragon’s UK motor and leasing divisions to North America-based Lithia Motors, has long-standing partnerships with over 50 brands and last year acquired Seez in a $42 million deal.
The company has reiterated its medium-term guidance for £58-62 million in underlying earnings by 2028, which compares with a better-than-expected £16.4 million after an improvement of 17.1% in today’s annual results.
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The City is looking for a figure of £21.3 million in the current financial year, with Pinewood pointing out that 85% of the projected growth required to meet its earnings target was covered by contracts that have already been signed.
Digital location and identity business GB Group slipped 4.2p to 217.1p despite reporting an acceleration of revenues growth to 6% in the second half of its financial year.
The company, which recently joined the FTSE 250 after moving from AIM to the main market at the end of March, said its Americas Identity business returned to growth in the fourth quarter.
It also hailed significant strategic progress during the year, with better-than-expected customer adoption of its newly launched all-in-one adaptive identity platform GBG Go.
GBG said it continued to generate strong levels of cash, which is supporting both shareholder returns and balance sheet strength. Having paid a final dividend of £11 million and repurchased about 8% of its shares for £45 million, the group ended the year with net debt of £80 million.
Peel Hunt reiterated an Add recommendation and target price of 300p following the update. With the company valued at 7.9 times 2026 calendar year earnings, the City firm said a growth recovery supported a potential re-rating.
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