Hycroft Mining (NASDAQ:HYMC) Posts Earnings Results

Hycroft Mining (NASDAQ:HYMC) posted its earnings results on Monday. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08), FiscalAI reports.

Hycroft Mining Price Performance

Shares of NASDAQ:HYMC opened at $20.43 on Tuesday. The firm has a market capitalization of $1.87 billion, a PE ratio of -17.17 and a beta of 2.71. The business has a 50 day simple moving average of $25.48 and a two-hundred day simple moving average of $34.23. Hycroft Mining has a 1 year low of $3.22 and a 1 year high of $58.73.

Insiders Place Their Bets

In related news, CEO Diane R. Garrett sold 21,550 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $31.50, for a total transaction of $678,825.00. Following the completion of the transaction, the chief executive officer owned 928,352 shares in the company, valued at $29,243,088. The trade was a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rebecca Jennings sold 1,194 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $28.64, for a total value of $34,196.16. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 99,873 shares of company stock valued at $2,884,778. Corporate insiders own 0.77% of the company’s stock.

Institutional Trading of Hycroft Mining

Large investors have recently made changes to their positions in the stock. Regal Partners Ltd purchased a new position in Hycroft Mining in the 4th quarter worth about $7,480,000. Garton & Associates Financial Advisors LLC purchased a new stake in Hycroft Mining in the 4th quarter valued at about $52,000. Millennium Management LLC grew its stake in Hycroft Mining by 61.6% in the 4th quarter. Millennium Management LLC now owns 571,526 shares of the company’s stock worth $13,585,000 after acquiring an additional 217,866 shares in the last quarter. Engineers Gate Manager LP bought a new position in Hycroft Mining in the 4th quarter worth about $303,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Hycroft Mining during the fourth quarter worth approximately $583,000. 7.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HYMC shares. B. Riley Financial assumed coverage on Hycroft Mining in a research report on Friday, July 10th. They issued a “buy” rating and a $28.00 price target for the company. Wall Street Zen upgraded shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Zacks Research raised shares of Hycroft Mining to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.00.

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.