Hycroft Mining (NASDAQ:HYMC) Trading Down 7.1% – Time to Sell?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) dropped 7.1% during trading on Thursday . The company traded as low as $40.79 and last traded at $40.53. Approximately 502,130 shares were traded during trading, a decline of 87% from the average daily volume of 3,918,635 shares. The stock had previously closed at $43.63.

Analysts Set New Price Targets

HYMC has been the subject of a number of research reports. Wall Street Zen cut shares of Hycroft Mining from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Hycroft Mining Stock Down 8.1%

The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -30.39 and a beta of 2.72. The business’s 50-day moving average is $37.95 and its two-hundred day moving average is $29.85.

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

Insider Transactions at Hycroft Mining

In related news, SVP Rebecca Jennings sold 9,071 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total transaction of $356,762.43. Following the transaction, the senior vice president directly owned 215,794 shares in the company, valued at approximately $8,487,178.02. The trade was a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Eric Sprott bought 200,000 shares of the firm’s stock in a transaction on Thursday, April 9th. The stock was purchased at an average price of $38.67 per share, for a total transaction of $7,734,000.00. Following the completion of the acquisition, the insider directly owned 37,303,704 shares in the company, valued at $1,442,534,233.68. The trade was a 0.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 550,000 shares of company stock worth $22,583,500 over the last 90 days. 0.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hycroft Mining

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Hycroft Mining by 150.2% in the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after purchasing an additional 1,702,288 shares during the last quarter. Franklin Resources Inc. acquired a new position in Hycroft Mining in the 4th quarter valued at about $39,815,000. Tidal Investments LLC boosted its holdings in Hycroft Mining by 125.3% in the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after purchasing an additional 871,030 shares during the last quarter. Schroder Investment Management Group acquired a new position in Hycroft Mining in the 4th quarter valued at about $36,366,000. Finally, UBS Group AG boosted its holdings 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. 7.38% of the stock is currently 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.