Hochschild Mining (LON:HOC) Shares Down 15.5% - Here's What Happened

Key Points

• Hochschild Mining's stock price fell by 15.5%, trading as low as GBX 246.20 ($3.32) from a previous close of GBX 306.40 ($4.13).
• Analysts remain mixed on the stock, with several maintaining a buy rating and issuing price targets ranging from GBX 300 to 390.
• The company has a market capitalization of £1.67 billion and operates three underground mines in the Americas, focusing primarily on high-grade silver and gold deposits.

Hochschild Mining plc (LON:HOC - Get Free Report)'s share price was down 15.5% on Wednesday . The company traded as low as GBX 246.20 ($3.32) and last traded at GBX 258.80 ($3.49). Approximately 26,172,439 shares changed hands during mid-day trading, an increase of 791% from the average daily volume of 2,936,395 shares. The stock had previously closed at GBX 306.40 ($4.14).

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HOC shares. JPMorgan Chase & Co. cut their price target on shares of Hochschild Mining from GBX 390 to GBX 370 and set an "overweight" rating on the stock in a report on Thursday. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 365 price target on shares of Hochschild Mining in a report on Wednesday. UBS Group reiterated a "buy" rating and set a GBX 300 price target on shares of Hochschild Mining in a report on Friday, August 15th. Finally, Berenberg Bank cut their price target on shares of Hochschild Mining from GBX 300 to GBX 280 and set a "hold" rating on the stock in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 315.83.

Hochschild Mining Stock Performance

The company has a market capitalization of £1.45 billion, a PE ratio of 1,478.95, a PEG ratio of 0.41 and a beta of 1.08. The company has a current ratio of 0.89, a quick ratio of 1.87 and a debt-to-equity ratio of 61.86. The firm's 50-day simple moving average is GBX 281.19 and its 200-day simple moving average is GBX 264.23.

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.