Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $24.19, but opened at $26.14. Hycroft Mining shares last traded at $26.6210, with a volume of 439,456 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. B. Riley Financial assumed coverage on shares of Hycroft Mining in a report on Monday, August 3rd. They issued a “buy” rating and a $25.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. Zacks Research upgraded Hycroft Mining to a “hold” rating in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.00.

Hycroft Mining Stock Performance

The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -26.40 and a beta of 2.78. The business’s 50 day simple moving average is $23.19 and its 200-day simple moving average is $32.33.

Hycroft Mining (NASDAQ:HYMC) last announced its quarterly earnings results on Monday, July 27th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.08). As a group, sell-side analysts expect that Hycroft Mining Holding Corporation will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other Hycroft Mining news, SVP Rebecca Jennings sold 1,194 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $28.64, for a total transaction of $34,196.16. Following the completion of the transaction, the senior vice president owned 202,498 shares in the company, valued at approximately $5,799,542.72. The trade was a 0.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP David Brian Thomas sold 25,000 shares of the 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 completion of the transaction, the senior vice president directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,873 shares of company stock valued at $2,884,778 in the last quarter. 0.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Hycroft Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new position in shares of Hycroft Mining in the 1st quarter valued at $34,000. Hollencrest Capital Management acquired a new stake in Hycroft Mining during the 1st quarter worth about $35,000. Legacy Wealth Managment LLC ID purchased a new stake in Hycroft Mining during the first quarter valued at about $44,000. Harbor Investment Advisory LLC purchased a new stake in Hycroft Mining during the first quarter valued at about $49,000. Finally, KBC Group NV acquired a new position in shares of Hycroft Mining in the first quarter worth about $51,000. 7.38% of the stock is 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.