Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Should You Sell?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down prior to trading on Wednesday . The stock had previously closed at $28.57, but opened at $27.34. Hycroft Mining shares last traded at $27.4510, with a volume of 742,766 shares traded.

Wall Street Analysts Forecast Growth

HYMC has been the subject of a number of analyst reports. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Hycroft Mining Stock Performance

The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -17.53 and a beta of 2.64. The firm has a fifty day simple moving average of $14.02 and a 200 day simple moving average of $8.17. 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) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02.

Insider Buying and Selling

In other news, major shareholder Eric Sprott acquired 400,000 shares of the firm’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 acquisition, the insider owned 31,456,352 shares of the company’s stock, valued at approximately $714,059,190.40. This trade represents a 1.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP David Brian Thomas sold 15,000 shares of Hycroft Mining stock in a transaction on Monday, December 29th. The stock was sold at an average price of $21.21, for a total transaction of $318,150.00. Following the sale, the senior vice president directly owned 81,070 shares in the company, valued at approximately $1,719,494.70. This trade represents a 15.61% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have bought 12,820,824 shares of company stock worth $113,878,587 and have sold 38,859 shares worth $517,545. 1.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hycroft Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. LM Asset IM Inc. acquired a new position in shares of Hycroft Mining during the 2nd quarter worth approximately $1,189,000. Clear Harbor Asset Management LLC purchased a new position in Hycroft Mining during the second quarter worth approximately $141,000. Timelo Investment Management Inc. acquired a new position in Hycroft Mining during the second quarter worth $470,000. Geode Capital Management LLC grew its holdings in Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after buying an additional 3,146 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 acquiring an additional 47,385 shares during the last quarter. 7.38% of the stock is currently owned by institutional investors and hedge funds.

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.