Hochschild Mining (LON:HOC) Trading Down 15.5% – Here’s What Happened

Hochschild Mining plc (LON:HOC) shares dropped 15.5% during trading on Wednesday . The company traded as low as GBX 186 ($2.32) and last traded at GBX 193.40 ($2.41). Approximately 9,867,523 shares were traded during mid-day trading, an increase of 268% from the average daily volume of 2,678,564 shares. The stock had previously closed at GBX 229 ($2.86).

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HOC shares. Canaccord Genuity Group cut their price objective on Hochschild Mining from GBX 310 ($3.87) to GBX 285 ($3.56) and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 300 ($3.75) price objective on shares of Hochschild Mining in a research report on Thursday. Canaccord Genuity Group boosted their target price on shares of Hochschild Mining from GBX 220 ($2.75) to GBX 310 ($3.87) and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Berenberg Bank restated a “hold” rating and set a GBX 200 ($2.50) target price on shares of Hochschild Mining in a report on Wednesday, October 16th.

Hochschild Mining Price Performance

The stock has a 50-day moving average of GBX 218.12 and a two-hundred day moving average of GBX 200.68. The company has a current ratio of 0.89, a quick ratio of 1.87 and a debt-to-equity ratio of 55.11. The firm has a market cap of £925.00 million, a price-to-earnings ratio of 3,596.00, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08.

About Hochschild Mining

We are a leading underground precious metals producer focusing on high grade silver and gold deposits, with over 50 years’ operating experience in the Americas.

We currently operate three underground mines, two located in southern Peru and one in southern Argentina. All of our underground operations are epithermal vein mines and the principal mining method used is cut and fill.