Hycroft Mining (NASDAQ:HYMC) Trading Down 2% – Time to Sell?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares dropped 2% during mid-day trading on Wednesday . The stock traded as low as $34.14 and last traded at $35.93. Approximately 2,251,979 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 5,439,865 shares. The stock had previously closed at $36.65.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Hycroft Mining Trading Down 2.0%

The firm has a market capitalization of $2.98 billion, a P/E ratio of -22.18 and a beta of 2.62. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The stock has a 50 day simple moving average of $28.73 and a 200-day simple moving average of $14.37.

Insiders Place Their Bets

In other Hycroft Mining news, major shareholder Eric Sprott purchased 2,340,824 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average price of $10.30 per share, for a total transaction of $24,110,487.20. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 5,255,824 shares of company stock valued at $83,978,837 in the last 90 days. 1.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC lifted its holdings 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 valued at $25,000 after purchasing an additional 1,000 shares in the last quarter. Bank of America Corp DE raised its position 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 valued at $25,000 after purchasing an additional 2,537 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of Hycroft Mining during the 3rd quarter valued at $96,000. Virtu Financial LLC lifted its stake in shares of Hycroft Mining by 20.3% during the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after buying an additional 2,700 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Hycroft Mining in the 2nd quarter worth $101,000. 7.38% of the stock is owned by hedge funds and other 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.