Hochschild Mining (LON:HOC) Stock Price Down 15.5% on Analyst Downgrade

Hochschild Mining plc (LON:HOC) shares fell 15.5% on Thursday after Canaccord Genuity Group lowered their price target on the stock from GBX 310 to GBX 285. Canaccord Genuity Group currently has a buy rating on the stock. Hochschild Mining traded as low as GBX 186 ($2.32) and last traded at GBX 193.40 ($2.41). 9,867,523 shares changed hands during mid-day trading, an increase of 268% from the average session volume of 2,678,564 shares. The stock had previously closed at GBX 229 ($2.86).

A number of other research analysts have also weighed in on HOC. JPMorgan Chase & Co. raised their target price on Hochschild Mining from GBX 310 ($3.87) to GBX 320 ($4.00) and gave the company an “overweight” rating in a report on Friday, December 6th. Berenberg Bank restated a “hold” rating and set a GBX 200 ($2.50) price objective on shares of Hochschild Mining in a research note on Wednesday, October 16th. Finally, Canaccord Genuity Group upped their target price 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.

Hochschild Mining Stock Down 2.3 %

The stock has a 50-day moving average of GBX 218.12 and a 200 day moving average of GBX 200.68. 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. 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.