Hycroft Mining (NASDAQ:HYMC) Shares Down 6.1% – Here’s Why

by · The Markets Daily

Hycroft Mining Holding Corporation (NASDAQ:HYMC – Get Free Report)’s share price was down 6.1% on Thursday . The stock traded as low as $29.81 and last traded at $30.1780. Approximately 1,267,144 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 3,674,916 shares. The stock had previously closed at $32.15.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Hycroft Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hycroft Mining presently has a consensus rating of “Sell”.

Get Our Latest Report on Hycroft Mining

Hycroft Mining Stock Performance

The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -25.37 and a beta of 2.62. The company has a 50 day moving average of $36.64 and a 200 day moving average of $32.31.

Hycroft Mining (NASDAQ:HYMC – Get Free Report) last released its earnings results on Monday, April 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.45).

Insider Buying and Selling at Hycroft Mining

In other news, major shareholder Eric Sprott acquired 100,000 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was acquired at an average cost of $37.84 per share, with a total value of $3,784,000.00. Following the transaction, the insider owned 37,403,704 shares in the company, valued at approximately $1,415,356,159.36. This trade represents a 0.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Rebecca Jennings sold 9,071 shares of Hycroft Mining stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $39.33, for a total transaction of $356,762.43. Following the sale, the senior vice president directly owned 215,794 shares of the company’s stock, valued at approximately $8,487,178.02. This trade represents a 4.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hycroft Mining

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after buying an additional 1,702,288 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Hycroft Mining in the fourth quarter valued at $39,815,000. Schroder Investment Management Group acquired a new stake in Hycroft Mining in the fourth quarter valued at $36,366,000. Tidal Investments LLC grew its holdings in Hycroft Mining by 125.3% in the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after purchasing an additional 871,030 shares during the last quarter. Finally, UBS Group AG grew its holdings in Hycroft Mining by 711.9% in the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after purchasing an additional 828,625 shares during the last quarter. Institutional investors and hedge funds own 7.38% of the company’s stock.

Hycroft Mining Company Profile

(Get Free Report)

Hycroft Mining PLC is a precious metals company focused on the exploration, development and operation of the Hycroft Mine, a large oxide gold and silver deposit in northwestern Nevada. The company’s primary activities include open-pit mining, heap leach extraction and carbon adsorption/desorption processing designed to recover gold and silver from crushed ore. Hycroft’s technical team employs conventional mining methods and metallurgical processes to advance resource conversion and optimize recovery rates.

Located on approximately 28,800 hectares in Humboldt County, Nevada, the Hycroft Mine ranks among the largest undeveloped oxide gold-silver deposits in North America.

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