Hochschild Mining (LON:HOC) Stock Price Down 10% - Here's Why

Hochschild Mining plc (LON:HOC - Get Free Report) shares were down 10% during trading on Wednesday . The stock traded as low as GBX 253.40 ($3.37) and last traded at GBX 274.40 ($3.65). Approximately 35,782,234 shares traded hands during trading, an increase of 843% from the average daily volume of 3,794,393 shares. The stock had previously closed at GBX 305 ($4.06).

Analyst Ratings Changes

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

Hochschild Mining Price Performance

The business has a 50-day moving average of GBX 246 and a two-hundred day moving average of GBX 224.35. 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 has a market cap of £1.76 billion, a P/E 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 declared a dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.02 per share. This represents a dividend yield of 0.6%. The ex-dividend date is Thursday, May 8th. Hochschild Mining's dividend payout ratio (DPR) is currently 85.32%.

Insider Activity at Hochschild Mining

In related news, insider Eduardo Landin bought 77,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average cost of GBX 272 ($3.62) per share, with a total value of £209,440 ($278,547.68). 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.