Hycroft Mining (NASDAQ:HYMC) Stock Price Down 8% – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price was down 8% during trading on Friday . The stock traded as low as $23.83 and last traded at $23.89. 1,043,917 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 3,095,378 shares. The stock had previously closed at $25.96.

Analyst Ratings Changes

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

Hycroft Mining Stock Down 8.2%

The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -24.07 and a beta of 2.78. The stock has a 50 day moving average of $23.12 and a 200 day moving average of $31.89.

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

Insider Transactions at Hycroft Mining

In related news, SVP Rebecca Jennings sold 1,194 shares of the firm’s stock in a transaction 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 transaction, the senior vice president directly owned 202,498 shares in the company, valued at $5,799,542.72. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stanton K. Rideout sold 16,500 shares of Hycroft Mining stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.18, for a total transaction of $497,970.00. Following the completion of the transaction, the chief financial officer directly owned 481,947 shares of the company’s stock, valued at approximately $14,545,160.46. This represents a 3.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 99,873 shares of company stock valued at $2,884,778. 0.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System acquired a new position in shares of Hycroft Mining during the first quarter valued at $1,958,000. 180 Wealth Advisors LLC lifted its position in Hycroft Mining by 186.6% in the 2nd quarter. 180 Wealth Advisors LLC now owns 94,760 shares of the company’s stock valued at $2,217,000 after purchasing an additional 61,699 shares during the last quarter. UBS Group AG lifted its position in Hycroft Mining by 5.4% in the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after purchasing an additional 51,126 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in Hycroft Mining during the 4th quarter valued at about $2,574,000. Finally, Swiss National Bank acquired a new position in Hycroft Mining during the 1st quarter valued at about $3,362,000. 7.38% of the stock is owned by institutional investors and hedge funds.

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.