Hycroft Mining (NASDAQ:HYMC) Trading 1.4% Higher – Still a Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares were up 1.4% during mid-day trading on Thursday . The stock traded as high as $8.06 and last traded at $7.93. Approximately 634,245 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,919,552 shares. The stock had previously closed at $7.82.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The stock has a fifty day simple moving average of $6.39 and a 200-day simple moving average of $4.47. The company has a market capitalization of $642.09 million, a PE ratio of -4.90 and a beta of 2.51. The company has a current ratio of 19.04, a quick ratio of 25.35 and a debt-to-equity ratio of 2.83.

Hycroft Mining (NASDAQ:HYMC) last posted its earnings results on Tuesday, October 28th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02.

Insider Transactions at Hycroft Mining

In related news, major shareholder Eric Sprott acquired 7,690,000 shares of Hycroft Mining stock in a transaction dated Tuesday, October 14th. The stock was acquired at an average price of $6.50 per share, for a total transaction of $49,985,000.00. Following the transaction, the insider owned 25,225,528 shares of the company’s stock, valued at $163,965,932. This represents a 43.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David Brian Thomas sold 20,000 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $7.39, for a total transaction of $147,800.00. Following the completion of the sale, the senior vice president directly owned 96,070 shares of the company’s stock, valued at approximately $709,957.30. This trade represents a 17.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.21% of the company’s stock.

Institutional Trading of Hycroft Mining

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings 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 last quarter. XTX Topco Ltd purchased a new stake in Hycroft Mining in the second quarter valued at approximately $101,000. Jane Street Group LLC purchased a new stake in Hycroft Mining in the first quarter valued at approximately $124,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Hycroft Mining in the first quarter valued at approximately $136,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in Hycroft Mining in the second quarter valued at approximately $141,000. 7.38% of the stock is owned by hedge funds and other institutional investors.

Hycroft Mining Company Profile

Hycroft Mining Holding Corporation, together with its subsidiaries, operates as a gold and silver development company in the United States. The company holds interests in the Hycroft mine that consists of 30 private parcels with patented claims comprising approximately 1,787 acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres located in the state of Nevada.