Hycroft Mining (NASDAQ:HYMC) Trading Down 7.6% – Here’s Why

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares were down 7.6% during mid-day trading on Wednesday . The stock traded as low as $20.11 and last traded at $20.0650. Approximately 594,691 shares were traded during trading, a decline of 83% from the average session volume of 3,495,798 shares. The stock had previously closed at $21.71.

Analyst Upgrades and Downgrades

HYMC has been the subject of several recent research reports. 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, Hycroft Mining presently has a consensus rating of “Sell”.

Hycroft Mining Trading Down 5.4%

The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -17.28 and a beta of 2.71. The business has a 50-day moving average price of $30.54 and a two-hundred day moving average price of $34.56.

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

Insider Buying and Selling

In other news, major shareholder Eric Sprott acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average price of $37.84 per share, with a total value of $3,784,000.00. Following the acquisition, the insider directly owned 37,403,704 shares in the company, valued at approximately $1,415,356,159.36. The trade was a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rebecca Jennings sold 1,194 shares of Hycroft Mining stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.64, for a total transaction of $34,196.16. Following the completion of the sale, the senior vice president owned 202,498 shares in the company, valued at approximately $5,799,542.72. This represents a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 99,873 shares of company stock valued at $2,884,778 in the last three months. 0.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hycroft Mining

Large investors have recently made changes to their positions in the company. Global Retirement Partners LLC raised its holdings in shares of Hycroft Mining by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock valued at $1,000,000 after buying an additional 475 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Hycroft Mining during the first quarter worth approximately $34,000. FNY Investment Advisers LLC grew its holdings in Hycroft Mining by 1,666.7% in the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after buying an additional 1,000 shares in the last quarter. Hollencrest Capital Management bought a new position in Hycroft Mining in the 1st quarter worth approximately $35,000. Finally, Legacy Wealth Managment LLC ID acquired a new stake in Hycroft Mining in the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds 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.