Hycroft Mining (NASDAQ:HYMC) Shares Down 8.9% – Time to Sell?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) fell 8.9% during trading on Wednesday . The company traded as low as $50.78 and last traded at $49.9860. 3,323,189 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 5,482,608 shares. The stock had previously closed at $54.85.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HYMC. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Hycroft Mining presently has a consensus rating of “Sell”.

Hycroft Mining Stock Down 5.8%

The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04. The company has a market capitalization of $4.29 billion, a PE ratio of -31.91 and a beta of 2.64. The firm’s 50-day simple moving average is $22.95 and its 200 day simple moving average is $11.85.

Hycroft Mining (NASDAQ:HYMC) last announced its quarterly earnings results on Tuesday, October 28th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02.

Insiders Place Their Bets

In related news, major shareholder Eric Sprott acquired 2,340,824 shares of Hycroft Mining stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average cost of $10.30 per share, for a total transaction of $24,110,487.20. Following the completion of the transaction, the insider directly owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. The trade was a 8.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders acquired a total of 5,555,824 shares of company stock worth $78,815,837 over the last ninety days. Company insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HYMC. FNY Investment Advisers LLC raised its stake in Hycroft Mining by 1,666.7% during the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after purchasing an additional 1,000 shares during the period. Bank of America Corp DE increased its holdings in shares of Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after buying an additional 2,537 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Hycroft Mining in the 3rd quarter worth $96,000. Virtu Financial LLC boosted its holdings in Hycroft Mining by 20.3% in the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after acquiring an additional 2,700 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Hycroft Mining during the second quarter valued at about $101,000. 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.