Hochschild Mining (LON:HOC) Shares Down 14.6% - Here's Why

Key Points

• Hochschild Mining shares fell by 14.6%, trading as low as GBX 246.20 ($3.32) amid a significant increase in trading volume, up by 775% compared to average daily volume.
• A consensus target price for the stock is set at GBX 322.50, with five analysts rating it as a Buy and one as a Hold.
• The company boasts a market capitalization of £1.67 billion and is primarily engaged in the production of precious metals with operations in southern Peru and Argentina.

Shares of Hochschild Mining plc (LON:HOC - Get Free Report) traded down 14.6% on Wednesday . The company traded as low as GBX 246.20 ($3.32) and last traded at GBX 261.60 ($3.53). 25,682,703 shares traded hands during trading, an increase of 775% from the average session volume of 2,933,674 shares. The stock had previously closed at GBX 306.40 ($4.14).

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Berenberg Bank cut their price objective on shares of Hochschild Mining from GBX 300 to GBX 280 and set a "hold" rating on the stock in a report on Thursday. UBS Group reissued a "buy" rating and set a GBX 300 price objective on shares of Hochschild Mining in a report on Friday, August 15th. JPMorgan Chase & Co. cut their price objective on shares of Hochschild Mining from GBX 390 to GBX 370 and set an "overweight" rating on the stock in a report on Thursday. Finally, Canaccord Genuity Group reissued a "buy" rating and set a GBX 365 price objective on shares of Hochschild Mining in a report on Wednesday, August 27th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of GBX 315.83.

Hochschild Mining Trading Up 6.8%

The company has a debt-to-equity ratio of 61.86, a current ratio of 0.89 and a quick ratio of 1.87. The firm has a market capitalization of £1.54 billion, a PE ratio of 1,578.95, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08. The business's 50-day moving average price is GBX 281.19 and its 200-day moving average price is GBX 264.73.

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.