Hycroft Mining (NASDAQ:HYMC) Shares Gap Up Following Analyst Upgrade

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped up prior to trading on Tuesday after Zacks Research upgraded the stock to a hold rating. The stock had previously closed at $20.43, but opened at $21.85. Hycroft Mining shares last traded at $21.9760, with a volume of 168,068 shares trading hands.

Several other brokerages also recently commented on HYMC. Wall Street Zen upgraded shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. Finally, B. Riley Financial started coverage on shares of Hycroft Mining in a report on Friday, July 10th. They set a “buy” rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Hycroft Mining presently has an average rating of “Hold” and an average target price of $28.00.

Insider Buying and Selling at Hycroft Mining

In other Hycroft Mining news, SVP David Brian Thomas sold 25,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.32, for a total value of $658,000.00. Following the transaction, the senior vice president owned 168,374 shares of the company’s stock, valued at approximately $4,431,603.68. The trade was a 12.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stanton K. Rideout sold 16,500 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.18, for a total value of $497,970.00. Following 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 disclosure for this sale is available in the SEC filing. Insiders sold 99,873 shares of company stock worth $2,884,778 over the last 90 days. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Hycroft Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC lifted its holdings in Hycroft Mining by 1,666.7% during the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after buying an additional 1,000 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Hycroft Mining by 166.6% in the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after buying an additional 2,537 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of Hycroft Mining in the 1st quarter valued at $34,000. Hollencrest Capital Management bought a new stake in shares of Hycroft Mining during the first quarter worth $35,000. Finally, Legacy Wealth Managment LLC ID bought a new stake in shares of Hycroft Mining during the first quarter worth $44,000. Institutional investors and hedge funds own 7.38% of the company’s stock.

Hycroft Mining Price Performance

The firm has a 50 day moving average price of $28.69 and a 200-day moving average price of $34.52. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -17.55 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMC) last announced its quarterly earnings data 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, sell-side analysts expect that Hycroft Mining Holding Corporation will post -0.9 EPS for the current fiscal year.

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.