Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $24.19, but opened at $26.14. Hycroft Mining shares last traded at $26.6210, with a volume of 439,456 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HYMC shares. Wall Street Zen upgraded Hycroft Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Zacks Research upgraded shares of Hycroft Mining to a “hold” rating in a research report on Monday, July 13th. B. Riley Financial initiated coverage on shares of Hycroft Mining in a report on Monday, August 3rd. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.00.

Hycroft Mining Stock Up 12.0%

The stock has a market cap of $2.52 billion, a P/E ratio of -27.31 and a beta of 2.78. The company’s 50 day moving average price is $23.08 and its two-hundred day moving average price is $32.54.

Hycroft Mining (NASDAQ:HYMC) last released its quarterly earnings data on Monday, July 27th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.08). As a group, equities research analysts forecast that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current year.

Insider Transactions at Hycroft Mining

In other Hycroft Mining news, CEO Diane R. Garrett sold 21,550 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $31.50, for a total transaction of $678,825.00. Following the transaction, the chief executive officer owned 928,352 shares of the company’s stock, valued at approximately $29,243,088. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rebecca Jennings sold 1,194 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was 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 directly owned 202,498 shares of the company’s stock, valued at $5,799,542.72. The trade was a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 99,873 shares of company stock valued at $2,884,778. Insiders own 0.77% of the company’s stock.

Institutional Trading of Hycroft Mining

A number of hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hycroft Mining by 11.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock valued at $1,490,000 after buying an additional 47,385 shares during the last quarter. Jane Street Group LLC acquired a new stake in Hycroft Mining during the first quarter worth about $124,000. Geode Capital Management LLC lifted its stake in shares of Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after purchasing an additional 3,146 shares during the period. XTX Topco Ltd purchased a new position in Hycroft Mining during the second quarter worth approximately $101,000. Finally, Shay Capital LLC increased its holdings in Hycroft Mining by 100.2% in the 2nd quarter. Shay Capital LLC now owns 246,627 shares of the company’s stock worth $772,000 after acquiring an additional 123,453 shares in the last quarter. Hedge funds and other 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.