Hochschild Mining (LON:HOC) Shares Down 15.5% After Analyst Downgrade

Hochschild Mining plc (LON:HOC)’s stock price dropped 15.5% during trading 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). Approximately 9,867,523 shares were traded during mid-day 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).

Several other brokerages also recently weighed in on HOC. JPMorgan Chase & Co. lifted 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 research note on Friday, December 6th. Berenberg Bank reissued a “hold” rating and issued 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 price objective 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 report on Thursday, October 24th.

Hochschild Mining Trading Down 2.3 %

The company has a market cap of £925.00 million, a price-to-earnings ratio of 3,596.00, a P/E/G ratio of 0.41 and a beta of 1.08. The business has a fifty day simple moving average of GBX 218.12 and a 200 day simple moving average of GBX 200.68. 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.