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

Key Points

• Hochschild Mining plc shares fell 14.2% on Wednesday, trading as low as GBX 360 ($4.81) before closing at GBX 362.20 ($4.84).
• Analysts have provided mixed ratings, with Canaccord Genuity raising its price target to GBX 465 and maintaining a "buy" rating, while the consensus price target is GBX 347.86.
• The company operates three underground mines focused on precious metals, specifically silver and gold, with a market capitalization of £1.86 billion.

Shares of Hochschild Mining plc (LON:HOC - Get Free Report) were down 14.2% on Wednesday . The stock traded as low as GBX 360 ($4.81) and last traded at GBX 362.20 ($4.84). Approximately 3,985,027 shares were traded during 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 Ratings Changes

A number of research firms have recently issued reports on HOC. Canaccord Genuity Group raised their price target on shares of Hochschild Mining from GBX 350 to GBX 465 and gave the stock a "buy" rating in a research report on Monday, October 13th. Berenberg Bank raised their target price on shares of Hochschild Mining from GBX 280 to GBX 380 and gave the stock a "hold" rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. decreased their target price on Hochschild Mining from GBX 390 to GBX 370 and set an "overweight" rating for the company in a research note on Thursday, August 28th. UBS Group reiterated a "buy" rating and set a GBX 300 price target on shares of Hochschild Mining in a research report on Friday, August 15th. Finally, Peel Hunt reissued a "buy" rating and issued 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 issued a Hold rating to the company. According to MarketBeat, Hochschild Mining presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 347.86.

Hochschild Mining Stock Down 0.3%

The firm's 50 day simple moving average is GBX 338.60 and its 200 day simple moving average is GBX 298.36. The company has a market cap of £1.86 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08. The company has a quick ratio of 1.87, a current ratio of 0.89 and a debt-to-equity ratio of 61.86.

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.

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