Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – What’s Next?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down prior to trading on Wednesday . The stock had previously closed at $23.14, but opened at $21.95. Hycroft Mining shares last traded at $21.7190, with a volume of 578,459 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HYMC shares. Wall Street Zen upgraded shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Hycroft Mining Stock Down 5.9%

The firm has a 50 day simple moving average of $34.07 and a two-hundred day simple moving average of $33.82. The stock has a market capitalization of $1.99 billion, a P/E ratio of -18.31 and a beta of 2.62.

Hycroft Mining (NASDAQ:HYMC) last issued 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 at Hycroft Mining

In other Hycroft Mining news, CFO Stanton K. Rideout sold 16,500 shares of Hycroft Mining stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $30.18, for a total value of $497,970.00. Following the transaction, the chief financial officer owned 481,947 shares in the company, valued at $14,545,160.46. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rebecca Jennings sold 1,194 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $28.64, for a total value of $34,196.16. Following the transaction, the senior vice president directly owned 202,498 shares of the company’s stock, valued at approximately $5,799,542.72. The trade was a 0.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 99,873 shares of company stock worth $2,884,778 over the last quarter. 0.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after purchasing an additional 1,702,288 shares during the last quarter. Franklin Resources Inc. bought a new position in Hycroft Mining in the 4th quarter valued at approximately $39,815,000. Schroder Investment Management Group bought a new position in Hycroft Mining in the 4th quarter valued at approximately $36,366,000. Tidal Investments LLC boosted its position in Hycroft Mining by 125.3% in the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after buying an additional 871,030 shares in the last quarter. Finally, UBS Group AG boosted its position in Hycroft Mining by 711.9% in the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after buying an additional 828,625 shares in the last quarter. 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.