Hochschild Mining (LON:HOC) Trading Down 16.7% – Here’s What Happened

Hochschild Mining plc (LON:HOC)’s stock price fell 16.7% during trading on Wednesday . The stock traded as low as GBX 187 ($2.31) and last traded at GBX 190.80 ($2.36). 8,611,561 shares traded hands during mid-day trading, an increase of 232% from the average session volume of 2,594,833 shares. The stock had previously closed at GBX 229 ($2.83).

Wall Street Analysts Forecast Growth

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

Hochschild Mining Price Performance

The company has a market cap of £930.14 million, a P/E ratio of 3,616.00, a P/E/G ratio of 0.41 and a beta of 1.08. The company’s 50-day moving average price is GBX 218.44 and its two-hundred day moving average price is GBX 200.71. The company has a current ratio of 0.89, a quick ratio of 1.87 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.