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

Hochschild Mining plc (LON:HOC)’s stock price dropped 15.5% during trading on Wednesday . The stock 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 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 Analysts Forecast Growth

A number of equities analysts recently issued reports on HOC shares. Canaccord Genuity Group increased their price target 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. Berenberg Bank restated a “hold” rating and issued a GBX 200 ($2.50) target price on shares of Hochschild Mining in a research note on Wednesday, October 16th. 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. Finally, Canaccord Genuity Group lowered 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 research report on Thursday.

Hochschild Mining Stock Down 2.3 %

The firm has a market cap of £925.00 million, a PE ratio of 3,596.00, a PEG ratio of 0.41 and a beta of 1.08. The stock has a 50 day simple moving average of GBX 218.12 and a 200-day simple moving average of GBX 200.68. The company has a debt-to-equity ratio of 55.11, a current ratio of 0.89 and a quick ratio of 1.87.

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.