Hycroft Mining (NASDAQ:HYMC) Now Covered by B. Riley Financial

Research analysts at B. Riley Financial assumed coverage on shares of Hycroft Mining (NASDAQ:HYMC) in a note issued to investors on Monday. The brokerage set a “buy” rating and a $25.00 price target on the stock. B. Riley Financial’s price target would indicate a potential upside of 29.47% from the company’s previous close.

A number of other analysts have also commented on HYMC. Zacks Research raised Hycroft Mining to a “hold” rating in a report on Monday, July 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. Finally, Wall Street Zen raised Hycroft Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Hycroft Mining Stock Down 1.1%

NASDAQ:HYMC traded down $0.22 on Monday, hitting $19.31. The stock had a trading volume of 157,571 shares, compared to its average volume of 3,249,502. The business’s fifty day moving average is $24.40 and its 200 day moving average is $33.97. The company has a market cap of $1.80 billion, a PE ratio of -16.39 and a beta of 2.71. Hycroft Mining has a 52 week low of $3.34 and a 52 week high of $58.73.

Hycroft Mining (NASDAQ:HYMC) last issued its earnings results on Tuesday, July 28th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). Equities analysts predict that Hycroft Mining will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Stanton K. Rideout sold 16,500 shares of Hycroft Mining stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.18, for a total transaction of $497,970.00. Following the sale, the chief financial officer directly owned 481,947 shares in the company, valued at approximately $14,545,160.46. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Diane R. Garrett sold 21,550 shares of Hycroft Mining stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $31.50, for a total value of $678,825.00. Following the sale, the chief executive officer owned 928,352 shares in the company, valued at $29,243,088. This trade represents a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 99,873 shares of company stock valued at $2,884,778. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

Large investors have recently made changes to their positions in the business. Handelsbanken Fonder AB bought a new stake in shares of Hycroft Mining during the 2nd quarter worth $531,000. FNY Investment Advisers LLC grew its position in Hycroft Mining by 50.0% during the second quarter. FNY Investment Advisers LLC now owns 1,500 shares of the company’s stock valued at $35,000 after buying an additional 500 shares during the period. 180 Wealth Advisors LLC grew its position in Hycroft Mining by 186.6% during the second quarter. 180 Wealth Advisors LLC now owns 94,760 shares of the company’s stock valued at $2,217,000 after buying an additional 61,699 shares during the period. NewEdge Advisors LLC purchased a new stake in Hycroft Mining during the first quarter worth about $1,055,000. Finally, Bank of America Corp DE increased its holdings in Hycroft Mining by 6,228.3% during the first quarter. Bank of America Corp DE now owns 100,999 shares of the company’s stock worth $3,555,000 after buying an additional 99,403 shares during the last quarter. 7.38% of the stock is owned by hedge funds and other institutional investors.

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.