Hochschild Mining (LON:HOC) Shares Down 16.7% – Here’s Why

Hochschild Mining plc (LON:HOC) dropped 16.7% during trading on Wednesday . The company traded as low as GBX 187 ($2.31) and last traded at GBX 190.80 ($2.35). Approximately 8,611,561 shares were traded during trading, an increase of 232% from the average daily volume of 2,594,833 shares. The stock had previously closed at GBX 229 ($2.82).

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Hochschild Mining from GBX 310 ($3.82) to GBX 320 ($3.95) and gave the company an “overweight” rating in a research note on Friday, December 6th. Canaccord Genuity Group increased their price target on Hochschild Mining from GBX 220 ($2.71) to GBX 310 ($3.82) and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 200 ($2.47) price objective on shares of Hochschild Mining in a research report on Wednesday, October 16th.

Hochschild Mining Price Performance

The company’s 50-day moving average is GBX 218.57 and its 200-day moving average is GBX 200.34. The firm has a market capitalization of £981.59 million, a price-to-earnings ratio of 3,816.02, a PEG ratio of 0.41 and a beta of 1.08. The company has a debt-to-equity ratio of 55.11, a current ratio of 0.89 and a quick ratio of 1.87.

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.