Hycroft Mining (NASDAQ:HYMC) Stock Price Down 7.1% – Here’s Why

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price was down 7.1% during trading on Thursday . The stock traded as low as $40.79 and last traded at $40.53. Approximately 502,130 shares were traded during trading, a decline of 87% from the average daily volume of 3,918,635 shares. The stock had previously closed at $43.63.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HYMC shares. Wall Street Zen lowered Hycroft Mining from a “sell” rating to a “strong sell” rating in a report on Sunday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hycroft Mining has an average rating of “Sell”.

Hycroft Mining Stock Down 7.6%

The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of -33.83 and a beta of 2.72. The business has a 50-day simple moving average of $38.36 and a two-hundred day simple moving average of $29.57.

Hycroft Mining (NASDAQ:HYMC) last released its earnings results on Monday, April 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.45).

Insider Buying and Selling

In other Hycroft Mining news, SVP Rebecca Jennings sold 9,071 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $39.33, for a total value of $356,762.43. Following the completion of the sale, the senior vice president directly owned 215,794 shares in the company, valued at $8,487,178.02. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Eric Sprott bought 100,000 shares of the business’s stock in a transaction on Friday, April 24th. The stock was purchased at an average price of $37.84 per share, with a total value of $3,784,000.00. Following the completion of the transaction, the insider directly owned 37,403,704 shares of the company’s stock, valued at $1,415,356,159.36. This trade represents a 0.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 550,000 shares of company stock valued at $22,583,500 over the last 90 days. 0.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hycroft Mining

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Hycroft Mining by 150.2% in the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after acquiring an additional 1,702,288 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Hycroft Mining in the 4th quarter worth $39,815,000. Tidal Investments LLC grew its holdings in shares of Hycroft Mining by 125.3% in the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after acquiring an additional 871,030 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Hycroft Mining in the 4th quarter worth $36,366,000. Finally, UBS Group AG grew its holdings in shares of Hycroft Mining by 5.4% in the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock worth $23,678,000 after acquiring an additional 51,126 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.