Hochschild Mining (LON:HOC) Stock Price Down 8.7% – Here’s What Happened

Hochschild Mining plc (LON:HOC) shares fell 8.7% during trading on Wednesday . The company traded as low as GBX 468.20 and last traded at GBX 471. 208,350,531 shares traded hands during trading, an increase of 2,172% from the average daily volume of 9,169,662 shares. The stock had previously closed at GBX 516.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HOC. Berenberg Bank reaffirmed a “hold” rating and set a GBX 590 price objective on shares of Hochschild Mining in a research report on Thursday, April 23rd. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 750 price target on shares of Hochschild Mining in a report on Thursday, March 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Hochschild Mining from GBX 990 to GBX 950 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 586.

Hochschild Mining Stock Down 8.7%

The company has a debt-to-equity ratio of 47.67, a current ratio of 0.99 and a quick ratio of 1.87. The stock has a fifty day moving average price of GBX 606.14 and a two-hundred day moving average price of GBX 606.90. The company has a market cap of £2.42 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 0.41 and a beta of 0.97.

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.