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

Hochschild Mining plc (LON:HOC) dropped 16.2% during trading on Wednesday . The company traded as low as GBX 187 ($2.31) and last traded at GBX 192 ($2.37). Approximately 8,359,117 shares were traded during mid-day trading, an increase of 224% from the average daily volume of 2,578,003 shares. The stock had previously closed at GBX 229 ($2.83).

Analyst Upgrades and Downgrades

HOC has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price target on shares of Hochschild Mining from GBX 220 ($2.72) to GBX 310 ($3.83) and gave the stock a “buy” rating in a research note on Thursday, October 24th. Berenberg Bank reaffirmed a “hold” rating and set a GBX 200 ($2.47) price objective on shares of Hochschild Mining in a report on Wednesday, October 16th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 300 ($3.71) target price on shares of Hochschild Mining in a research note on Thursday. Finally, Canaccord Genuity Group cut their price target on shares of Hochschild Mining from GBX 310 ($3.83) to GBX 285 ($3.52) and set a “buy” rating for the company in a research note on Thursday.

Hochschild Mining Price Performance

The company’s 50 day moving average price is GBX 218.44 and its 200 day moving average price is GBX 200.71. 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 company has a market cap of £930.14 million, a price-to-earnings ratio of 3,616.00, 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.