Hochschild Mining (LON:HOC) Trading Down 14.4% - Here's Why

Hochschild Mining plc (LON:HOC - Get Free Report)'s stock price traded down 14.4% during mid-day trading on Wednesday . The company traded as low as GBX 253.40 ($3.37) and last traded at GBX 261.20 ($3.47). 34,956,750 shares changed hands during mid-day trading, an increase of 824% from the average session volume of 3,783,810 shares. The stock had previously closed at GBX 305 ($4.06).

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HOC shares. Canaccord Genuity Group boosted their price target on Hochschild Mining from GBX 285 ($3.79) to GBX 370 ($4.92) and gave the stock a "buy" rating in a research report on Thursday, April 17th. Royal Bank of Canada upgraded shares of Hochschild Mining to an "outperform" rating and set a GBX 270 ($3.59) target price for the company in a report on Thursday, March 13th. Berenberg Bank lowered their price target on shares of Hochschild Mining from GBX 210 ($2.79) to GBX 200 ($2.66) and set a "hold" rating on the stock in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a GBX 300 ($3.99) price objective on shares of Hochschild Mining in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 290 ($3.86).

Hochschild Mining Stock Up 1.1 %

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 business's fifty day moving average price is GBX 246 and its two-hundred day moving average price is GBX 224.35. The stock has a market capitalization of £1.76 billion, a PE ratio of 57.76, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08.

Hochschild Mining Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, May 8th will be issued a $0.02 dividend. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, May 8th. Hochschild Mining's dividend payout ratio is presently 85.32%.

Insider Transactions at Hochschild Mining

In other Hochschild Mining news, insider Eduardo Landin purchased 77,000 shares of the stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of GBX 272 ($3.62) per share, with a total value of £209,440 ($278,547.68). Company 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.