December is often a great month for the FTSE 250. Stock markets can surge as the calendar year ends, history shows us, whether that be for tax reasons, portfolio adjustments, or simply investors and traders being in high festive spirits.
I’ve picked out two mid-cap growth shares I think could take off this month: Hochschild Mining (LSE:HOC) and Vistry (LSE:VTY).
Want to know what could make them explode?
Silver surfer
Hochschild Mining’s a significant gold and silver producer. It’s risen 88% in value 2025 thanks to a surge in both metals’ prices. More recently, a spark in silver values has lifted the company sharply higher.
The so-called Devil’s Metal touched record peaks of $58.86 per ounce on Monday (1 December). Yet compared to gold, it still looks dirt cheap — the gold:silver ratio was last at 72:1.
That’s far below the long-term average of 60:1, and suggests silver prices could have further to go.
Naturally there’s no guarantee of extra price gains for gold or silver. They could, for instance, be pulled lower if the US dollar gains momentum.
But given a backdrop of economic uncertainty, falling interest rates and geopolitical tension, I think both metals could keep rising. Meanwhile, the buck could come under fresh pressure on signs of further Federal Reserve action.
Given Hochschild’s low valuation, I think there’s scope for further share price gains in this climate. The miner trades on price-to-earnings growth (PEG) ratios of 0.2 and 0.1 for 2025 and 2026, respectively.
Building back better
Vistry’s another FTSE 250 share that’s delivering index-beating price gains in 2025. Up 15%, I think it could pick up momentum in end-of-year trading as confidence in the housing market improves.
Housing sector data continues to surprise, supported by interest rate cuts and fierce competition in the mortgage market. Yesterday Nationwide (2 December) said average house prices rose 0.3% in November despite Budget uncertainty. They were expected to flatline.
Close watchers of Vistry perhaps won’t have been caught out by this latest robust dataset. The builder’s November trading update showed its average sales rate up 11% between 1 July and 6 November.
With interest rates tipped to keep falling in 2026, I think sales could continue climbing strongly. What’s more, as the UK’s largest affordable homes specialist, Vistry can expect significant government support looking ahead.
As with Hochschild, Vistry’s share price is dirt cheap, which could attract attention from value investors. It commands a PEG ratio of 0.4 for both 2026 and 2027.
The company is expected to blast back into profit this year, meaning a valid ratio is unavailable. It does boast a price-to-earnings (P/E) ratio of 11.7 times for 2025 though, which on balance looks pretty attractive.
I think both Vistry and Hochschild shares are great stocks to consider for a late year rally.
