Hochschild Mining (LON:HOC) Shares Up 4.5% After Analyst Upgrade

Hochschild Mining plc (LON:HOC) shares were up 4.5% on Friday after Canaccord Genuity Group raised their price target on the stock from GBX 490 to GBX 750. Canaccord Genuity Group currently has a buy rating on the stock. Hochschild Mining traded as high as GBX 677 and last traded at GBX 627.77. Approximately 1,727,487 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 4,515,231 shares. The stock had previously closed at GBX 600.50.

A number of other equities research analysts have also issued reports on HOC. JPMorgan Chase & Co. lowered Hochschild Mining to a “neutral” rating and increased their price target for the company from GBX 600 to GBX 670 in a research report on Monday. Berenberg Bank increased their price objective on shares of Hochschild Mining from GBX 430 to GBX 570 and gave the company a “hold” rating in a research report on Thursday. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 340 price objective on shares of Hochschild Mining in a research report on Tuesday, October 7th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Hochschild Mining currently has an average rating of “Moderate Buy” and an average price target of GBX 483.33.

Insiders Place Their Bets

In related news, insider Mike Sylvestre acquired 1,620 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was bought at an average price of GBX 331 per share, for a total transaction of £5,362.20. 43.62% of the stock is currently owned by company insiders.

Hochschild Mining Trading Up 4.5%

The business’s 50 day simple moving average is GBX 473.51 and its 200 day simple moving average is GBX 375.51. The company has a debt-to-equity ratio of 61.86, a current ratio of 0.89 and a quick ratio of 1.87. The company has a market capitalization of £3.23 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08.

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.