Hochschild Mining (LON:HOC) Trading Down 16.2% – Here’s What Happened

Hochschild Mining plc (LON:HOC) dropped 16.2% during mid-day trading on Wednesday . The company traded as low as GBX 186 ($2.32) and last traded at GBX 192 ($2.40). 9,514,745 shares changed hands during mid-day trading, an increase of 258% from the average daily volume of 2,655,045 shares. The stock had previously closed at GBX 229 ($2.86).

Wall Street Analyst Weigh In

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

Hochschild Mining Stock Performance

The stock has a 50-day moving average price of GBX 218.12 and a 200 day moving average price of GBX 200.68. The company has a quick ratio of 1.87, a current ratio of 0.89 and a debt-to-equity ratio of 55.11. The firm has a market capitalization of £925.00 million, a price-to-earnings ratio of 3,596.00, a P/E/G ratio of 0.41 and a beta of 1.08.

Hochschild Mining Company Profile

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.