Hochschild Mining (LON:HOC) Trading Down 9.3% After Analyst Downgrade

Key Points

• Shares of Hochschild Mining plummeted 9.3% following a downgrade from Berenberg Bank, which lowered its price target from GBX 300 to GBX 280.
• Despite the downgrade, other brokerages maintain a positive outlook; JPMorgan has an "overweight" rating, while both Canaccord Genuity and UBS reaffirmed "buy" ratings with targets of GBX 365 and GBX 300, respectively.
• The stock's current trading value is around GBX 278, reflecting a significant drop from its previous close of GBX 306.40.

Shares of Hochschild Mining plc (LON:HOC - Get Free Report) traded down 9.3% during mid-day trading on Thursday after Berenberg Bank lowered their price target on the stock from GBX 300 to GBX 280. Berenberg Bank currently has a hold rating on the stock. Hochschild Mining traded as low as GBX 246.20 ($3.32) and last traded at GBX 278 ($3.75). 7,855,000 shares traded hands during mid-day trading, an increase of 178% from the average session volume of 2,825,628 shares. The stock had previously closed at GBX 306.40 ($4.14).

A number of other brokerages have also weighed in on HOC. JPMorgan Chase & Co. reduced their target price 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. Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 365 target price on shares of Hochschild Mining in a research note on Wednesday. Finally, UBS Group reaffirmed a "buy" rating and issued a GBX 300 target price on shares of Hochschild Mining in a research note on Friday, August 15th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of GBX 315.83.

Hochschild Mining Stock Performance

The stock's 50 day moving average price is GBX 279.96 and its 200 day moving average price is GBX 262.54. 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 company has a market capitalization of £1.73 billion, a price-to-earnings ratio of 56.95, a P/E/G 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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