Hochschild Mining (LON:HOC) Shares Down 18.7% - Here's Why

Shares of Hochschild Mining plc (LON:HOC - Get Free Report) dropped 18.7% during mid-day trading on Tuesday . The stock traded as low as GBX 234.80 ($3.18) and last traded at GBX 244.96 ($3.32). Approximately 52,349,082 shares traded hands during mid-day trading, an increase of 1,391% from the average daily volume of 3,511,717 shares. The stock had previously closed at GBX 301.20 ($4.08).

Analyst Ratings Changes

A number of research firms have recently commented on HOC. Berenberg Bank dropped their price target on Hochschild Mining from GBX 210 ($2.85) to GBX 200 ($2.71) and set a "hold" rating on the stock in a research report on Wednesday, March 12th. Canaccord Genuity Group raised their target price on shares of Hochschild Mining from GBX 285 ($3.86) to GBX 370 ($5.01) and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, Royal Bank of Canada raised shares of Hochschild Mining to an "outperform" rating and set a GBX 270 ($3.66) price target on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of GBX 290 ($3.93).

Hochschild Mining Trading Down 22.9%

The stock has a market cap of £1.51 billion, a price-to-earnings ratio of 49.53, a P/E/G ratio of 0.41 and a beta of 1.08. The business has a 50-day simple moving average of GBX 282.03 and a two-hundred day simple moving average of GBX 236.93. The company has a debt-to-equity ratio of 61.86, a quick ratio of 1.87 and a current ratio of 0.89.

Hochschild Mining Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, May 8th will be given a $0.02 dividend. This represents a yield of 0.6%. The ex-dividend date is Thursday, May 8th. Hochschild Mining's dividend payout ratio (DPR) is currently 85.32%.

Insiders Place Their Bets

In related news, insider Eduardo Landin purchased 77,000 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was purchased at an average cost of GBX 272 ($3.69) per share, for a total transaction of £209,440 ($283,832.50). Insiders own 38.71% of the company's stock.

Hochschild Mining Company Profile

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.