Hochschild Mining (LON:HOC) Trading Down 22.9% - What's Next?

Shares of Hochschild Mining plc (LON:HOC - Get Free Report) fell 22.9% during trading on Wednesday . The company traded as low as GBX 231 ($3.13) and last traded at GBX 232.20 ($3.15). 6,865,773 shares traded hands during trading, an increase of 122% from the average session volume of 3,098,233 shares. The stock had previously closed at GBX 301.20 ($4.08).

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HOC. Royal Bank of Canada upgraded shares of Hochschild Mining to an "outperform" rating and set a GBX 270 ($3.66) price target for the company in a research note on Thursday, March 13th. Berenberg Bank reduced their price target on Hochschild Mining from GBX 210 ($2.85) to GBX 200 ($2.71) and set a "hold" rating for the company in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group increased their target price on shares of Hochschild Mining from GBX 285 ($3.86) to GBX 370 ($5.02) and gave the company a "buy" rating in a research note on Thursday, April 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 290 ($3.93).

Hochschild Mining Trading Up 1.0%

The firm's 50 day moving average is GBX 281.07 and its two-hundred day moving average is GBX 236.95. The company has a market cap of £1.61 billion, a P/E ratio of 52.81, a PEG 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.

Insider Activity

In other news, insider Eduardo Landin acquired 77,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were bought at an average cost of GBX 272 ($3.69) per share, with a total value of £209,440 ($283,909.45). Insiders own 38.71% of the company's stock.

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.