Hycroft Mining (NASDAQ:HYMC) Stock Price Down 13.9% – Here’s Why
by Kim Johansen · The Markets DailyHycroft Mining Holding Corporation (NASDAQ:HYMC – Get Free Report)’s share price fell 13.9% on Thursday . The company traded as low as $30.51 and last traded at $31.19. 2,181,846 shares changed hands during trading, a decline of 55% from the average session volume of 4,867,638 shares. The stock had previously closed at $36.24.
Analyst Ratings Changes
Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Hycroft Mining has an average rating of “Sell”.
Read Our Latest Analysis on HYMC
Hycroft Mining Stock Performance
The stock’s fifty day moving average is $40.53 and its two-hundred day moving average is $21.23. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -19.24 and a beta of 2.58.
Insider Buying and Selling
In other news, major shareholder Eric Sprott purchased 400,000 shares of the company’s stock in a transaction on Monday, December 29th. The shares were bought at an average price of $22.70 per share, for a total transaction of $9,080,000.00. Following the completion of the purchase, the insider owned 31,456,352 shares of the company’s stock, valued at $714,059,190.40. This trade represents a 1.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have bought 1,725,000 shares of company stock valued at $54,177,250. 1.31% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Hycroft Mining
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HYMC. Centiva Capital LP bought a new position in Hycroft Mining in the 3rd quarter valued at about $284,000. Sprott Inc. raised its position in shares of Hycroft Mining by 11.7% during the 3rd quarter. Sprott Inc. now owns 816,253 shares of the company’s stock worth $5,061,000 after buying an additional 85,490 shares in the last quarter. LM Asset IM Inc. acquired a new stake in shares of Hycroft Mining in the 2nd quarter worth approximately $1,189,000. Quantbot Technologies LP acquired a new stake in shares of Hycroft Mining in the 3rd quarter worth approximately $281,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Hycroft Mining by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock valued at $1,000,000 after acquiring an additional 475 shares in the last quarter. 7.38% of the stock is owned by institutional investors.
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.