Hochschild Mining (LON:HOC) Shares Down 15.5% – Here’s Why

Hochschild Mining plc (LON:HOC) dropped 15.5% during mid-day trading on Wednesday . The stock traded as low as GBX 186 ($2.32) and last traded at GBX 193.40 ($2.41). Approximately 9,867,523 shares changed hands 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).

Analyst Upgrades and Downgrades

Several analysts have recently commented on HOC shares. Berenberg Bank reiterated a “hold” rating and set a GBX 200 ($2.50) price objective on shares of Hochschild Mining in a report on Wednesday, October 16th. Canaccord Genuity Group lowered their price target on Hochschild Mining from GBX 310 ($3.87) to GBX 285 ($3.56) and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 300 ($3.75) price objective on shares of Hochschild Mining in a report on Thursday. Finally, Canaccord Genuity Group boosted 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 report on Thursday, October 24th.

Hochschild Mining Trading 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 quick ratio of 1.87, a current ratio of 0.89 and a debt-to-equity ratio of 55.11. The stock has a market cap of £925.00 million, a PE ratio of 3,596.00, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08.

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.