Hochschild Mining (LON:HOC) Shares Down 14.2% - Here's What Happened

Key Points

• Hochschild Mining's shares experienced a significant decline of 14.2%, closing at GBX 362.20 ($4.84) on the previous trading day.
• Multiple brokerage firms have downgraded or adjusted their price targets for the stock, with JPMorgan lowering its target from GBX 390 to GBX 370.
• The company maintains a Moderate Buy rating from analysts, with an average price target of GBX 347.86, despite the recent stock drop.

Hochschild Mining plc (LON:HOC - Get Free Report)'s stock price was down 14.2% on Tuesday . The company traded as low as GBX 360 ($4.81) and last traded at GBX 362.20 ($4.84). Approximately 3,985,027 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 3,198,544 shares. The stock had previously closed at GBX 422 ($5.64).

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HOC. JPMorgan Chase & Co. lowered their price target on shares of Hochschild Mining from GBX 390 to GBX 370 and set an "overweight" rating for the company in a research report on Thursday, August 28th. Berenberg Bank boosted their price target on Hochschild Mining from GBX 280 to GBX 380 and gave the stock a "hold" rating in a research report on Tuesday, October 7th. UBS Group restated a "buy" rating and set a GBX 300 price target on shares of Hochschild Mining in a report on Friday, August 15th. Canaccord Genuity Group upped their price target on shares of Hochschild Mining from GBX 350 to GBX 465 and gave the stock a "buy" rating in a research note on Monday, October 13th. Finally, Peel Hunt reaffirmed a "buy" rating and set a GBX 340 price target on shares of Hochschild Mining in a report on Tuesday, October 7th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Hochschild Mining has an average rating of "Moderate Buy" and an average price target of GBX 347.86.

Hochschild Mining Trading Down 14.2%

The company has a current ratio of 0.89, a quick ratio of 1.87 and a debt-to-equity ratio of 61.86. The stock has a market capitalization of £1.86 billion, a PE ratio of 12.49, a P/E/G ratio of 0.41 and a beta of 1.08. The stock has a 50 day moving average price of GBX 337.38 and a 200-day moving average price of GBX 297.91.

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.

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