Hochschild Mining (LON:HOC) Shares Down 16.2% – Here’s Why

Shares of Hochschild Mining plc (LON:HOC) fell 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 traded hands during trading, an increase of 258% from the average session volume of 2,655,045 shares. The stock had previously closed at GBX 229 ($2.86).

Wall Street Analysts Forecast Growth

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

Hochschild Mining Trading Down 2.3 %

The company has a market cap of £925.00 million, a P/E ratio of 3,596.00, a PEG ratio of 0.41 and a beta of 1.08. The firm’s 50 day moving average is GBX 218.12 and its two-hundred day moving average is 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.

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.