B. Riley Financial initiated coverage on shares of Hycroft Mining (NASDAQ:HYMC – Free Report) in a report published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $25.00 price objective on the stock.
Other analysts also recently issued reports about the company. Zacks Research raised Hycroft Mining to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. 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 equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.00.
Read Our Latest Stock Analysis on Hycroft Mining
Hycroft Mining Stock Performance
Hycroft Mining (NASDAQ:HYMC – Get Free Report) last posted its earnings results on Tuesday, July 28th. 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 forecast that Hycroft Mining will post -0.9 earnings per share for the current year.
Insider Activity at Hycroft Mining
In other news, SVP David Brian Thomas sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $26.32, for a total transaction 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 $4,431,603.68. This represents a 12.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stanton K. Rideout sold 16,500 shares of the firm’s stock in a transaction that occurred 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 owned 481,947 shares of the company’s stock, valued at approximately $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 valued at $2,884,778 over the last quarter. 0.77% of the stock is currently owned by insiders.
Institutional Trading of Hycroft Mining
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after acquiring an additional 1,702,288 shares during the period. Franklin Resources Inc. bought a new stake in Hycroft Mining in the 4th quarter valued at about $39,815,000. Schroder Investment Management Group bought a new stake in Hycroft Mining in the 4th quarter valued at about $36,366,000. Tidal Investments LLC lifted its holdings in Hycroft Mining by 125.3% during the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after purchasing an additional 871,030 shares during the last quarter. Finally, UBS Group AG lifted its holdings in Hycroft Mining by 711.9% during the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after purchasing an additional 828,625 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.
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