Hycroft Mining (NASDAQ:HYMC) Raised to Hold at Zacks Research

Hycroft Mining (NASDAQ:HYMC) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts have also issued reports on HYMC. B. Riley Financial initiated coverage on shares of Hycroft Mining in a research note on Friday, July 10th. They issued a “buy” rating and a $28.00 target price on the stock. Wall Street Zen raised shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Hycroft Mining currently has a consensus rating of “Hold” and an average price target of $28.00.

Hycroft Mining Stock Performance

Shares of HYMC opened at $21.86 on Monday. The company’s 50 day moving average price is $29.07 and its 200 day moving average price is $34.55. Hycroft Mining has a 52 week low of $3.22 and a 52 week high of $58.73. The company has a market capitalization of $2.00 billion, a PE ratio of -18.37 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMC) last announced its earnings results on Monday, April 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.45). On average, equities analysts forecast that Hycroft Mining will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at Hycroft Mining

In other news, CFO Stanton K. Rideout sold 16,500 shares of Hycroft Mining stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $30.18, for a total value of $497,970.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Eric Sprott acquired 100,000 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were purchased at an average price of $37.84 per share, with a total value of $3,784,000.00. Following the acquisition, the insider owned 37,403,704 shares of the company’s stock, valued at approximately $1,415,356,159.36. This represents a 0.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 99,873 shares of company stock worth $2,884,778. Company insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HYMC. Lincoln Capital Corp purchased a new position in shares of Hycroft Mining in the 4th quarter worth about $952,000. SG Americas Securities LLC bought a new position in shares of Hycroft Mining during the 4th quarter valued at approximately $320,000. UBS Group AG grew its position in shares of Hycroft Mining by 5.4% during the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after acquiring an additional 51,126 shares during the period. Foundations Investment Advisors LLC purchased a new stake in shares of Hycroft Mining during the 4th quarter worth approximately $2,574,000. Finally, Vanguard Group Inc. raised 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 purchasing an additional 1,702,288 shares during the period. Hedge funds and other institutional investors own 7.38% of the company’s stock.

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.