Hochschild Mining (LON:HOC) Stock Price Down 18.7% - Here's What Happened

Hochschild Mining plc (LON:HOC - Get Free Report)'s stock price was down 18.7% on Tuesday . The company 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 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).

Wall Street Analyst Weigh In

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

Hochschild Mining Stock Performance

The company has a debt-to-equity ratio of 61.86, a quick ratio of 1.87 and a current ratio of 0.89. The stock's 50 day moving average price is GBX 282.03 and its 200 day moving average price is GBX 236.93. The company has a market capitalization of £1.51 billion, a P/E ratio of 49.53, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08.

Hochschild Mining Cuts Dividend

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

Insider Buying and Selling

In related news, insider Eduardo Landin bought 77,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were bought at an average price of GBX 272 ($3.69) per share, with a total value of £209,440 ($283,832.50). 38.71% of the stock is owned by company insiders.

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.