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

Hochschild Mining plc (LON:HOC) shares were down 16.2% during mid-day trading on Wednesday . The stock 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).

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HOC shares. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 300 ($3.71) target price on shares of Hochschild Mining in a report on Thursday. Canaccord Genuity Group reduced their price target on shares of Hochschild Mining from GBX 310 ($3.83) to GBX 285 ($3.52) and set a “buy” rating on the stock in a research report on Thursday. Canaccord Genuity Group raised 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 report on Thursday, October 24th. Finally, Berenberg Bank reiterated 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.

Hochschild Mining Stock Down 1.7 %

The firm has a 50 day moving average price of GBX 218.44 and a 200-day moving average price of GBX 200.71. The firm has a market cap of £930.14 million, a price-to-earnings ratio of 3,616.00, a price-to-earnings-growth 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.

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.