Hochschild Mining (LON:HOC) Trading Down 16.4% - Here's Why

Key Points

• Hochschild Mining's share price saw a significant decline of 16.4%, dropping to GBX 256 ($3.45) during midday trading, compared to its previous close of GBX 306.40 ($4.13).
• Equities research analysts maintain a positive outlook for the company, with five assigning a "Buy" rating and a consensus price target of GBX 322.50.
• The company operates in the precious metals sector, focusing on both silver and gold, with three underground mines situated in Peru and Argentina.

Hochschild Mining plc (LON:HOC - Get Free Report)'s share price traded down 16.4% during mid-day trading on Wednesday . The stock traded as low as GBX 246.20 ($3.32) and last traded at GBX 256 ($3.45). 26,831,547 shares were traded during mid-day trading, an increase of 812% from the average session volume of 2,940,637 shares. The stock had previously closed at GBX 306.40 ($4.13).

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 365 target price on shares of Hochschild Mining in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Hochschild Mining from GBX 370 to GBX 390 and gave the company an "overweight" rating in a research report on Thursday, July 24th. UBS Group reiterated a "buy" rating and set a GBX 300 price objective on shares of Hochschild Mining in a research report on Friday, August 15th. Finally, Berenberg Bank reiterated a "hold" rating and set a GBX 300 price objective on shares of Hochschild Mining in a research report on Wednesday, July 23rd. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of GBX 322.50.

Hochschild Mining Stock Performance

The business's fifty day moving average is GBX 279.30 and its two-hundred day moving average is GBX 262.43. The company has a quick ratio of 1.87, a current ratio of 0.89 and a debt-to-equity ratio of 61.86. The stock has a market capitalization of £1.66 billion, a PE ratio of 54.44, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08.

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.

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