The stock of Hochschild Mining Plc (LON:HOC) gapped down by GBX 0.3 today and has GBX 196.93 target or 4.00% below today’s GBX 205.14 share price. The 7 months technical chart setup indicates high risk for the GBX 1.04 billion company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 196.93 price target is reached, the company will be worth GBX 41.60 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 4.09% or GBX 8.76 on November 24, hitting GBX 205.14. About 2.32 million shares traded hands or 43.21% up from the average. Hochschild Mining Plc (LON:HOC) has risen 43.04% since April 27, 2016 and is uptrending. It has outperformed by 37.63% the S&P500.
Hochschild Mining Plc (LON:HOC) Ratings Coverage
Out of 12 analysts covering Hochschild Mining PLC (LON:HOC), 6 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 50% are positive. Hochschild Mining PLC has been the topic of 63 analyst reports since July 24, 2015 according to StockzIntelligence Inc. JP Morgan maintained the stock with “Neutral” rating in Thursday, January 21 report. The company was maintained on Thursday, February 25 by Barclays Capital. The stock of Hochschild Mining Plc (LON:HOC) earned “Equalwt/Attractive” rating by Morgan Stanley on Wednesday, March 9. Numis Securities maintained the stock with “Hold” rating in Wednesday, August 17 report. Goldman Sachs maintained the shares of HOC in a report on Monday, September 21 with “Neutral” rating. The stock of Hochschild Mining Plc (LON:HOC) earned “Hold” rating by Numis Securities on Thursday, August 13. The stock of Hochschild Mining Plc (LON:HOC) earned “Buy” rating by Bank of America on Wednesday, November 25. The firm earned “Neutral” rating on Tuesday, July 5 by JP Morgan. The firm has “Overweight” rating given on Thursday, March 10 by Barclays Capital. The rating was maintained by JP Morgan on Monday, January 18 with “Neutral”.
Hochschild Mining plc is engaged in mining, processing and sale of silver and gold. The company has a market cap of 1.04 billion GBP. It has approximately three operating mines located in southern Peru and approximately one operating mine (San Jose) located in Argentina. It currently has negative earnings. The Company’s divisions include Arcata, Pallancata, San Jose, Inmaculada, Exploration and Other.
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