Hochschild Mining (LON:HOC) Shares Down 15.5% - Here's What Happened

Shares of Hochschild Mining plc (LON:HOC - Get Free Report) fell 15.5% during trading on Wednesday . The stock traded as low as GBX 186 ($2.29) and last traded at GBX 193.40 ($2.38). 9,867,523 shares changed hands during trading, an increase of 268% from the average session volume of 2,678,564 shares. The stock had previously closed at GBX 229 ($2.82).

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HOC. Berenberg Bank reiterated a "hold" rating and issued a GBX 200 ($2.46) target price on shares of Hochschild Mining in a research report on Wednesday, October 16th. Canaccord Genuity Group reduced their price objective on Hochschild Mining from GBX 310 ($3.82) to GBX 285 ($3.51) and set a "buy" rating for the company in a research report on Thursday. Canaccord Genuity Group boosted their target price on Hochschild Mining from GBX 220 ($2.71) to GBX 310 ($3.82) and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a GBX 300 ($3.69) price target on shares of Hochschild Mining in a research note on Thursday.

Hochschild Mining Price Performance

The stock has a market capitalization of £946.61 million, a P/E ratio of 3,680.00, a PEG ratio of 0.41 and a beta of 1.08. The stock's fifty day moving average is GBX 218.44 and its 200-day moving average is GBX 200.71. The company has a debt-to-equity ratio of 55.11, a current ratio of 0.89 and a quick ratio of 1.87.

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.