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

Key Points

• Hochschild Mining shares dropped 14.2% on Wednesday, trading between GBX 360 and GBX 362.20, compared to the previous close of GBX 422.
• Research analysts provided mixed ratings, with Berenberg Bank raising its target price to GBX 380 while JPMorgan lowered its target to GBX 370, indicating varied investor sentiment.
• The company has an overall consensus rating of "Moderate Buy" with an average target price of GBX 347.86, as reported by MarketBeat.

Hochschild Mining plc (LON:HOC - Get Free Report) shares dropped 14.2% during trading on Wednesday . The company traded as low as GBX 360 ($4.81) and last traded at GBX 362.20 ($4.84). Approximately 3,985,027 shares changed 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).

Wall Street Analyst Weigh In

HOC has been the topic of a number of research analyst reports. Berenberg Bank increased their target price on Hochschild Mining from GBX 280 to GBX 380 and gave the company a "hold" rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. reduced their target price on Hochschild Mining from GBX 390 to GBX 370 and set an "overweight" rating on the stock in a research note on Thursday, August 28th. Canaccord Genuity Group increased their target price on Hochschild Mining from GBX 350 to GBX 465 and gave the company a "buy" rating in a research note on Monday, October 13th. UBS Group reissued a "buy" rating and issued a GBX 300 target price on shares of Hochschild Mining in a research note on Friday, August 15th. Finally, Peel Hunt reissued a "buy" rating and issued a GBX 340 target price on shares of Hochschild Mining in a research note on Tuesday, October 7th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Hochschild Mining presently has an average rating of "Moderate Buy" and a consensus price target of GBX 347.86.

Hochschild Mining Trading Down 0.7%

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 quick ratio of 1.87, a current ratio of 0.89 and a debt-to-equity ratio of 61.86. The firm has a market capitalization of £1.85 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08.

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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