Hochschild Mining (LON:HOC) Trading Down 15.5% on Analyst Downgrade

Hochschild Mining plc (LON:HOC)’s stock price was down 15.5% on Thursday after Canaccord Genuity Group lowered their price target on the stock from GBX 310 to GBX 285. Canaccord Genuity Group currently has a buy rating on the stock. Hochschild Mining traded as low as GBX 186 ($2.32) and last traded at GBX 193.40 ($2.41). Approximately 9,867,523 shares changed hands during 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).

Several other brokerages have also commented on HOC. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 200 ($2.50) price target on shares of Hochschild Mining in a research note on Wednesday, October 16th. Canaccord Genuity Group boosted their price objective on Hochschild Mining from GBX 220 ($2.75) to GBX 310 ($3.87) and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Hochschild Mining from GBX 310 ($3.87) to GBX 320 ($4.00) and gave the stock an “overweight” rating in a research note on Friday, December 6th.

Hochschild Mining Stock Down 2.3 %

The company has a debt-to-equity ratio of 55.11, a current ratio of 0.89 and a quick ratio of 1.87. 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. The firm has a 50 day moving average price of GBX 218.12 and a 200-day moving average price of GBX 200.68.

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.