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

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

Analyst Ratings Changes

HOC has been the topic of a number of research analyst reports. Canaccord Genuity Group dropped their price target on shares of Hochschild Mining from GBX 310 ($3.87) to GBX 285 ($3.56) and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 300 ($3.75) price target on shares of Hochschild Mining in a research report on Thursday. Berenberg Bank restated a “hold” rating and issued a GBX 200 ($2.50) price objective on shares of Hochschild Mining in a report on Wednesday, October 16th. Finally, Canaccord Genuity Group lifted 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 research note on Thursday, October 24th.

Hochschild Mining Stock Down 2.3 %

The firm’s fifty day simple moving average is GBX 218.12 and its two-hundred day simple moving average is GBX 200.68. The company has a market capitalization 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 company has a current ratio of 0.89, a quick ratio of 1.87 and a debt-to-equity ratio of 55.11.

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.