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

Hochschild Mining plc (LON:HOC)’s share price was 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). Approximately 9,867,523 shares traded hands during 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 Analyst Weigh In

A number of equities research analysts have issued reports on HOC shares. Canaccord Genuity Group cut their price target on 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. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 300 ($3.75) price target on shares of Hochschild Mining in a research note on Thursday. Canaccord Genuity Group boosted their price target on 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. Finally, Berenberg Bank restated 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.

Hochschild Mining Trading Down 2.3 %

The company has a debt-to-equity ratio of 55.11, a quick ratio of 1.87 and a current ratio of 0.89. The stock has a market capitalization 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 moving average price of GBX 218.12 and a two-hundred day moving average price of GBX 200.68.

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.