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

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $34.47, but opened at $32.44. Hycroft Mining shares last traded at $33.93, with a volume of 506,019 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Hycroft Mining Stock Performance

The business’s fifty day moving average price is $40.58 and its two-hundred day moving average price is $22.43. The stock has a market capitalization of $3.01 billion, a P/E ratio of -20.40 and a beta of 2.58.

Insiders Place Their Bets

In other Hycroft Mining news, SVP David Brian Thomas sold 15,000 shares of the company’s stock in a transaction that occurred 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 $1,719,494.70. This represents a 15.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Eric Sprott acquired 100,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was bought at an average cost of $47.58 per share, with a total value of $4,758,000.00. Following the completion of the purchase, the insider directly owned 37,003,704 shares in the company, valued at approximately $1,760,636,236.32. The trade was a 0.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 1,275,000 shares of company stock valued at $44,265,750 over the last ninety days. 1.31% of the stock is owned by insiders.

Institutional Trading of Hycroft Mining

Institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new position in Hycroft Mining during the fourth quarter worth $3,328,000. Virtu Financial LLC raised its stake in shares of Hycroft Mining by 194.6% in the fourth quarter. Virtu Financial LLC now owns 47,208 shares of the company’s stock valued at $1,122,000 after acquiring an additional 31,185 shares during the period. Regal Partners Ltd purchased a new stake in shares of Hycroft Mining in the fourth quarter valued at $7,480,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Hycroft Mining in the 4th quarter worth about $52,000. Finally, Millennium Management LLC lifted its holdings in shares of Hycroft Mining by 61.6% in the 4th quarter. Millennium Management LLC now owns 571,526 shares of the company’s stock worth $13,585,000 after acquiring an additional 217,866 shares during the last quarter. 7.38% of the stock is currently 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.