Hycroft Mining Holding Corporation (NASDAQ:HYMC – Get Free Report)’s share price was down 7.6% during mid-day trading on Wednesday . The company traded as low as $20.11 and last traded at $20.0650. 594,691 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,495,798 shares. The stock had previously closed at $21.71.
Analyst Ratings Changes
HYMC has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. B. Riley Financial initiated coverage on shares of Hycroft Mining in a report on Friday. They issued a “buy” rating and a $28.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hycroft Mining currently has an average rating of “Hold” and an average target price of $28.00.
Get Our Latest Stock Analysis on HYMC
Hycroft Mining Trading Down 1.8%
Hycroft Mining (NASDAQ:HYMC – Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.45).
Insiders Place Their Bets
In other Hycroft Mining news, SVP David Brian Thomas sold 25,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.32, for a total transaction of $658,000.00. Following the completion of the sale, the senior vice president owned 168,374 shares of the company’s stock, valued at $4,431,603.68. This trade represents a 12.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Eric Sprott bought 100,000 shares of Hycroft Mining stock in a transaction on Friday, April 24th. The stock was acquired at an average price of $37.84 per share, for a total transaction of $3,784,000.00. Following the transaction, the insider directly owned 37,403,704 shares of the company’s stock, valued at approximately $1,415,356,159.36. This trade represents a 0.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 99,873 shares of company stock worth $2,884,778. 0.77% of the stock is currently owned by company insiders.
Institutional Trading of Hycroft Mining
Institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC lifted its stake in Hycroft Mining by 1,666.7% during the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after purchasing an additional 1,000 shares in the last quarter. Bank of America Corp DE increased its stake in Hycroft Mining by 166.6% during the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after purchasing an additional 2,537 shares during the period. Contravisory Investment Management Inc. acquired a new stake in Hycroft Mining during the 1st quarter worth approximately $34,000. Hollencrest Capital Management acquired a new stake in Hycroft Mining during the 1st quarter worth approximately $35,000. Finally, Legacy Wealth Managment LLC ID purchased a new position in Hycroft Mining in the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 7.38% of the company’s stock.
About Hycroft Mining
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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