Hochschild Mining (LON:HOC) Trading Down 8.7% – Here’s What Happened

Hochschild Mining plc (LON:HOC) traded down 8.7% on Wednesday . The company traded as low as GBX 468.20 and last traded at GBX 471. Approximately 208,350,531 shares changed hands during mid-day trading, an increase of 2,172% from the average daily volume of 9,169,662 shares. The stock had previously closed at GBX 516.

Wall Street Analysts Forecast Growth

HOC has been the topic of several recent analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a GBX 750 target price on shares of Hochschild Mining in a report on Thursday, March 12th. JPMorgan Chase & Co. reduced their price objective on Hochschild Mining from GBX 990 to GBX 950 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Finally, Berenberg Bank reiterated a “hold” rating and issued a GBX 590 target price on shares of Hochschild Mining in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 586.

Hochschild Mining Trading Down 1.0%

The firm’s fifty day moving average is GBX 598.19 and its two-hundred day moving average is GBX 607.54. The firm has a market cap of £2.41 billion, a P/E ratio of 12.03, a PEG ratio of 0.41 and a beta of 0.97. The company has a quick ratio of 1.87, a current ratio of 0.99 and a debt-to-equity ratio of 47.67.

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. The ore at our operations is processed into silver-gold concentrate or dore.

Hochschild Mining plc is listed on the Main Market of the London Stock Exchange and is headquartered in Lima, Peru.