Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Should You Buy?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped up before the market opened on Wednesday . The stock had previously closed at $42.77, but opened at $45.51. Hycroft Mining shares last traded at $39.9520, with a volume of 3,954,120 shares trading hands.

Analysts Set New Price Targets

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

Hycroft Mining Trading Down 8.6%

The stock’s 50 day simple moving average is $19.09 and its 200 day simple moving average is $10.28. The firm has a market cap of $3.25 billion, a PE ratio of -24.44 and a beta of 2.64. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04.

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, topping analysts’ consensus estimates of ($0.24) by $0.02.

Insider Buying and Selling at Hycroft Mining

In other news, major shareholder Eric Sprott bought 2,340,824 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was bought at an average price of $10.30 per share, for a total transaction of $24,110,487.20. Following the transaction, the insider directly owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. This represents a 8.63% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders bought 5,455,824 shares of company stock worth $73,819,837 and sold 38,859 shares worth $517,545. Corporate insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC lifted its stake in Hycroft Mining by 125.3% in the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after purchasing an additional 871,030 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 worth $7,026,000 after buying an additional 179,050 shares during the period. UBS Group AG lifted its stake in shares of Hycroft Mining by 711.9% in the 3rd quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after acquiring an additional 828,625 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Hycroft Mining by 43.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 882,624 shares of the company’s stock valued at $5,472,000 after acquiring an additional 268,633 shares during the last quarter. Finally, Sprott Inc. boosted its holdings in Hycroft Mining by 11.7% during the 3rd quarter. Sprott Inc. now owns 816,253 shares of the company’s stock valued at $5,061,000 after acquiring an additional 85,490 shares during the period. Hedge funds and other institutional investors own 7.38% of the company’s stock.

Hycroft Mining Company Profile

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.