Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Still a Buy?
by Teresa Graham · The Cerbat GemHycroft Mining Holding Corporation (NASDAQ:HYMC – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $16.42, but opened at $20.94. Hycroft Mining shares last traded at $25.7170, with a volume of 3,486,140 shares traded.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.
Get Our Latest Stock Analysis on HYMC
Hycroft Mining Trading Down 7.7%
The stock has a market capitalization of $2.03 billion, a P/E ratio of -15.46 and a beta of 2.71. The stock’s fifty day moving average price is $10.57 and its 200 day moving average price is $6.65. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87.
Hycroft Mining (NASDAQ:HYMC – Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02.
Insider Activity
In other news, major shareholder Eric Sprott purchased 7,690,000 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were purchased at an average price of $6.50 per share, for a total transaction of $49,985,000.00. Following the completion of the purchase, the insider owned 25,225,528 shares in the company, valued at approximately $163,965,932. This represents a 43.85% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders acquired 12,120,824 shares of company stock worth $97,333,587. 1.31% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Hycroft Mining
Large investors have recently modified their holdings of the business. LM Asset IM Inc. bought a new stake in Hycroft Mining during the 2nd quarter valued at $1,189,000. Clear Harbor Asset Management LLC purchased a new position in Hycroft Mining in the second quarter valued at about $141,000. Timelo Investment Management Inc. bought a new position in Hycroft Mining in the second quarter worth about $470,000. Virtu Financial LLC raised its holdings in Hycroft Mining by 20.3% in the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Hycroft Mining during the third quarter valued at about $96,000. Institutional investors own 7.38% of the company’s stock.
About Hycroft Mining
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.