Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – What’s Next?

by · The Markets Daily

Hycroft Mining Holding Corporation (NASDAQ:HYMC – Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $22.81, but opened at $21.58. Hycroft Mining shares last traded at $21.6370, with a volume of 291,498 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Hycroft Mining from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Tuesday, June 16th. B. Riley Financial began coverage on Hycroft Mining in a report on Monday, August 3rd. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Zacks Research raised shares of Hycroft Mining to a “hold” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

Read Our Latest Stock Report on Hycroft Mining

Hycroft Mining Price Performance

The company has a market capitalization of $2.01 billion, a P/E ratio of -21.80 and a beta of 2.83. The business has a 50-day moving average of $23.07 and a 200-day moving average of $31.07.

Hycroft Mining (NASDAQ:HYMC – Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). Sell-side analysts predict that Hycroft Mining Holding Corporation will post -0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hycroft Mining news, SVP Rebecca Jennings sold 1,194 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $28.64, for a total value of $34,196.16. Following the sale, the senior vice president owned 202,498 shares in the company, valued at $5,799,542.72. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David Thomas sold 25,000 shares of Hycroft Mining stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.32, for a total value of $658,000.00. Following the sale, the senior vice president owned 168,374 shares of the company’s stock, valued at approximately $4,431,603.68. This trade represents a 12.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 41,523 shares of company stock worth $1,094,582. Insiders own 0.77% of the company’s stock.

Institutional Trading of Hycroft Mining

Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Hycroft Mining by 11.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock worth $1,490,000 after buying an additional 47,385 shares during the period. Jane Street Group LLC purchased a new position in shares of Hycroft Mining during the first quarter valued at $124,000. Geode Capital Management LLC raised its holdings in shares of Hycroft Mining by 1.4% in the second quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after acquiring an additional 3,146 shares in the last quarter. XTX Topco Ltd purchased a new stake in Hycroft Mining in the second quarter worth about $101,000. Finally, Shay Capital LLC lifted its stake in Hycroft Mining by 100.2% in the second quarter. Shay Capital LLC now owns 246,627 shares of the company’s stock worth $772,000 after acquiring an additional 123,453 shares during the period. Hedge funds and other institutional investors own 7.38% of the company’s stock.

About Hycroft Mining

(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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