Hochschild Mining (LON:HOC) Stock Price Down 9.3% Following 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.

Hochschild Mining plc (LON:HOC - Get Free Report) shares were down 9.3% 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 ($3.34) and last traded at GBX 278 ($3.77). Approximately 7,855,000 shares changed hands during trading, an increase of 178% from the average daily volume of 2,825,628 shares. The stock had previously closed at GBX 306.40 ($4.15).

Several other equities research analysts have also issued reports on HOC. UBS Group reiterated a "buy" rating and set a GBX 300 target price on shares of Hochschild Mining in a research report on Friday, August 15th. JPMorgan Chase & Co. decreased their price target on shares of Hochschild Mining from GBX 390 to GBX 370 and set an "overweight" rating on the stock in a research note on Thursday, August 28th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a GBX 365 price target on shares of Hochschild Mining in a research note on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of GBX 315.83.

Hochschild Mining Trading Up 2.4%

The stock's fifty day moving average price is GBX 282.21 and its 200 day moving average price is GBX 265.42. 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 stock has a market cap of £1.58 billion, a P/E ratio of 1,616.84, a PEG ratio of 0.41 and a beta of 1.08.

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.