Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Still a Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $16.09, but opened at $17.54. Hycroft Mining shares last traded at $17.3140, with a volume of 400,561 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HYMC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Friday, September 11th. B. Riley Financial began coverage on shares of Hycroft Mining in a research note on Monday, August 3rd. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Zacks Research raised shares of Hycroft Mining to a “hold” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.00.

Hycroft Mining Trading Up 11.3%

The stock has a 50 day simple moving average of $19.77 and a 200 day simple moving average of $29.84. The firm has a market capitalization of $1.67 billion, a PE ratio of -18.04 and a beta of 2.89.

Hycroft Mining (NASDAQ:HYMC) last released its quarterly earnings data on Tuesday, October 27th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.11). As a group, equities analysts anticipate that Hycroft Mining Holding Corporation will post -0.90 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Blake Rhodes purchased 3,000 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was acquired at an average price of $16.69 per share, with a total value of $50,070.00. Following the transaction, the director directly owned 7,068 shares of the company’s stock, valued at approximately $117,964.92. This represents a 73.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is owned by insiders.

Institutional Trading of Hycroft Mining

Institutional investors have recently modified their holdings of the company. 180 Wealth Advisors LLC grew its stake in shares of Hycroft Mining by 78.8% in the third quarter. 180 Wealth Advisors LLC now owns 169,418 shares of the company’s stock worth $3,226,000 after purchasing an additional 74,658 shares during the last quarter. StoneX Group Inc. bought a new position in Hycroft Mining during the 3rd quarter valued at approximately $216,000. Alps Advisors Inc. raised its position in Hycroft Mining by 693.9% during the 3rd quarter. Alps Advisors Inc. now owns 707,574 shares of the company’s stock valued at $13,472,000 after purchasing an additional 618,447 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Hycroft Mining in the 3rd quarter worth approximately $257,000. Finally, Sterling Capital Management LLC lifted its holdings in Hycroft Mining by 838.0% in the 3rd quarter. Sterling Capital Management LLC now owns 1,801 shares of the company’s stock worth $34,000 after buying an additional 1,609 shares during the period. 7.38% of the stock is currently owned by hedge funds and other institutional investors.

About Hycroft Mining

Hycroft Mining Holding Corporation is a precious metals exploration and development company focused on the Hycroft Mine, an open-pit gold and silver property in Humboldt County, Nevada, near Winnemucca. The company owns and operates the Hycroft project, which includes extensive mineral rights and processing infrastructure.

The Hycroft Mine has a history of commercial gold and silver production using conventional open-pit mining and heap-leach processing methods. Hycroft Mining is currently focused primarily on exploration, technical studies and evaluating potential redevelopment and processing strategies for the property rather than operating as a conventional producing mine.

The company was formed through the restructuring of Allied Nevada Gold and has continued advancing the Hycroft project as a large-scale precious metals asset in the United States.