Hochschild Mining (LON:HOC) Upgraded by JPMorgan Chase & Co. to Overweight Rating

Key Points

• JPMorgan Chase & Co. upgraded Hochschild Mining to an "overweight" rating and raised its price target to GBX 990 (from GBX 890), implying roughly a 45.8% upside from the prior close.
• The stock has broad analyst support (five Buys, one Hold) with a consensus target of GBX 536.67; shares traded around GBX 679 (up ~4.5%), market cap ~£3.49bn and P/E ~23.4, so JPMorgan's view is materially more bullish than the street.

Hochschild Mining (LON:HOC - Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. to an "overweight" rating in a research note issued to investors on Thursday,Digital Look reports. The firm currently has a GBX 990 price target on the stock, up from their prior price target of GBX 890. JPMorgan Chase & Co.'s price target would suggest a potential upside of 45.83% from the stock's previous close.

A number of other research analysts also recently commented on the company. Berenberg Bank upped their price objective on Hochschild Mining from GBX 430 to GBX 570 and gave the stock a "hold" rating in a research note on Thursday, January 22nd. Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 750 target price on shares of Hochschild Mining in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 536.67.

Hochschild Mining Stock Up 4.5%

Shares of Hochschild Mining stock opened at GBX 678.87 on Thursday. The company has a current ratio of 0.75, a quick ratio of 1.87 and a debt-to-equity ratio of 49.70. The business's 50 day simple moving average is GBX 662.70 and its 200-day simple moving average is GBX 477.54. The stock has a market capitalization of £3.49 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 0.41 and a beta of 0.80. Hochschild Mining has a twelve month low of GBX 216.50 and a twelve month high of GBX 849.50.

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. The ore at our operations is processed into silver-gold concentrate or dore. Hochschild Mining plc is listed on the Main Market of the London Stock Exchange and is headquartered in Lima, Peru.

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