Hochschild Mining (LON:HOC) Trading Down 11.8% - Here's What Happened

Key Points

• Hochschild Mining's stock price fell by 11.8% on Wednesday, trading as low as GBX 246.20 ($3.32) after previously closing at GBX 306.40 ($4.13).
• Analysts have set a consensus target price of GBX 322.50 for Hochschild Mining, with five analysts rating the stock as a "Buy".
• The company has a market cap of £1.67 billion, demonstrating its significant presence in the precious metals sector, particularly focusing on silver and gold.

Shares of Hochschild Mining plc (LON:HOC - Get Free Report) dropped 11.8% on Wednesday . The stock traded as low as GBX 246.20 ($3.32) and last traded at GBX 270.20 ($3.65). Approximately 24,608,896 shares were traded during trading, an increase of 741% from the average daily volume of 2,927,167 shares. The stock had previously closed at GBX 306.40 ($4.14).

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HOC shares. UBS Group reissued a "buy" rating and issued a GBX 300 price objective on shares of Hochschild Mining in a research note on Friday, August 15th. JPMorgan Chase & Co. lowered their price objective on shares of Hochschild Mining from GBX 390 to GBX 370 and set an "overweight" rating for the company in a research note on Thursday. Berenberg Bank lowered their price objective on shares of Hochschild Mining from GBX 300 to GBX 280 and set a "hold" rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a GBX 365 price objective on shares of Hochschild Mining in a research note on Wednesday, August 27th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of GBX 315.83.

Hochschild Mining Trading Up 6.8%

The company's fifty day moving average is GBX 281.19 and its two-hundred day moving average is GBX 264.73. The stock has a market cap of £1.54 billion, a price-to-earnings ratio of 1,578.95, a PEG ratio of 0.41 and a beta of 1.08. The company has a quick ratio of 1.87, a current ratio of 0.89 and a debt-to-equity ratio of 61.86.

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.