Hochschild Mining (LON:HOC) Trading Up 8% – Here’s What Happened

Hochschild Mining plc (LON:HOC) shot up 8% during mid-day trading on Wednesday . The company traded as high as GBX 554.50 and last traded at GBX 554. 188,903,500 shares were traded during trading, an increase of 1,835% from the average daily volume of 9,763,778 shares. The stock had previously closed at GBX 513.

Wall Street Analysts Forecast Growth

HOC has been the subject of several research analyst reports. Berenberg Bank upgraded shares of Hochschild Mining to a “buy” rating and set a GBX 570 price target for the company in a report on Monday, July 27th. JPMorgan Chase & Co. raised shares of Hochschild Mining to an “overweight” rating and upped their target price for the stock from GBX 820 to GBX 840 in a research note on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Hochschild Mining presently has an average rating of “Buy” and a consensus price target of GBX 625.

Hochschild Mining Trading Up 6.3%

The company has a debt-to-equity ratio of 47.67, a quick ratio of 1.87 and a current ratio of 0.99. The business has a 50-day simple moving average of GBX 489.59 and a two-hundred day simple moving average of GBX 587.97. The stock has a market cap of £3.27 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 0.41 and a beta of 0.95.

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.