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

Hochschild Mining plc (LON:HOC)’s share price was down 15.5% during trading on Wednesday . The company traded as low as GBX 186 ($2.32) and last traded at GBX 193.40 ($2.41). Approximately 9,854,495 shares were traded during trading, an increase of 268% from the average daily volume of 2,677,695 shares. The stock had previously closed at GBX 229 ($2.86).

Analyst Upgrades and Downgrades

Several analysts have recently commented on HOC shares. Canaccord Genuity Group reduced 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 report on Thursday. 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. 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 raised their price objective on shares of Hochschild Mining from GBX 220 ($2.75) to GBX 310 ($3.87) and gave the company a “buy” rating in a research note on Thursday, October 24th.

Hochschild Mining Price Performance

The stock has a fifty day simple moving average of GBX 218.12 and a 200-day simple moving average of GBX 200.68. The company has a current ratio of 0.89, a quick ratio of 1.87 and a debt-to-equity ratio of 55.11. The company has a market capitalization of £925.00 million, a PE 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.