Hochschild Mining (LON:HOC) Trading Down 15.5% on Analyst Downgrade

Hochschild Mining plc (LON:HOC)’s stock price dropped 15.5% on Thursday after Canaccord Genuity Group lowered their price target on the stock from GBX 310 to GBX 285. Canaccord Genuity Group currently has a buy rating on the stock. Hochschild Mining traded as low as GBX 186 ($2.32) and last traded at GBX 193.40 ($2.41). Approximately 9,867,523 shares traded hands during mid-day trading, an increase of 268% from the average daily volume of 2,678,564 shares. The stock had previously closed at GBX 229 ($2.86).

HOC has been the topic of several other research reports. Berenberg Bank reissued a “hold” rating and issued a GBX 200 ($2.50) target price on shares of Hochschild Mining in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on Hochschild Mining from GBX 310 ($3.87) to GBX 320 ($4.00) and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Canaccord Genuity Group increased their target price on Hochschild Mining from GBX 220 ($2.75) to GBX 310 ($3.87) and gave the company a “buy” rating in a research note on Thursday, October 24th.

Hochschild Mining Stock Performance

The company has a debt-to-equity ratio of 55.11, a current ratio of 0.89 and a quick ratio of 1.87. The company has a market cap of £925.00 million, a price-to-earnings ratio of 3,596.00, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08. The stock has a 50-day moving average price of GBX 218.12 and a 200 day moving average price of GBX 200.68.

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.