Hycroft Mining (NASDAQ:HYMC) Shares Down 8% – Should You Sell?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price dropped 8% during mid-day trading on Thursday . The stock traded as low as $27.45 and last traded at $27.37. Approximately 1,327,024 shares traded hands during trading, a decline of 63% from the average daily volume of 3,619,775 shares. The stock had previously closed at $29.74.

Analyst Ratings Changes

Several research analysts have weighed in on HYMC shares. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -16.00 and a beta of 2.64. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83. The company has a 50 day simple moving average of $14.46 and a 200 day simple moving average of $8.32.

Hycroft Mining (NASDAQ:HYMC) last issued its earnings results on Tuesday, October 28th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02.

Insider Buying and Selling

In other news, major shareholder Eric Sprott bought 7,690,000 shares of the business’s stock in a transaction on Tuesday, October 14th. The stock was purchased at an average cost of $6.50 per share, for a total transaction of $49,985,000.00. Following the completion of the transaction, the insider directly owned 25,225,528 shares of the company’s stock, valued at approximately $163,965,932. This trade represents a 43.85% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have bought 12,820,824 shares of company stock worth $113,878,587 and have sold 38,859 shares worth $517,545. Insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its holdings in shares of Hycroft Mining by 125.3% during the 3rd 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Hycroft Mining by 18.8% in the third quarter. Vanguard Group Inc. now owns 1,133,290 shares of the company’s stock valued at $7,026,000 after purchasing an additional 179,050 shares during the last quarter. UBS Group AG increased its stake in shares of Hycroft Mining by 711.9% in the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock worth $5,859,000 after purchasing an additional 828,625 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hycroft Mining by 43.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 882,624 shares of the company’s stock worth $5,472,000 after purchasing an additional 268,633 shares during the last quarter. Finally, Sprott Inc. grew its holdings in Hycroft Mining by 11.7% in the 3rd quarter. Sprott Inc. now owns 816,253 shares of the company’s stock valued at $5,061,000 after buying an additional 85,490 shares during the last quarter. Institutional investors and hedge funds 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.