Hycroft Mining (NASDAQ:HYMC) Stock Price Down 8% – Here’s Why

Hycroft Mining Holding Corporation (NASDAQ:HYMCGet Free Report) fell 8% during trading on Friday . The stock traded as low as $23.83 and last traded at $23.89. 1,043,917 shares traded hands during trading, a decline of 66% from the average daily volume of 3,095,378 shares. The stock had previously closed at $25.96.

Analysts Set New Price Targets

HYMC has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research note on Tuesday, June 16th. B. Riley Financial began coverage on shares of Hycroft Mining in a report on Monday, August 3rd. They issued a “buy” rating and a $25.00 price objective 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. Finally, Zacks Research upgraded shares of Hycroft Mining to a “hold” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Hycroft Mining presently has an average rating of “Hold” and a consensus target price of $25.00.

View Our Latest Analysis on HYMC

Hycroft Mining Price Performance

The company’s 50-day moving average price is $23.16 and its two-hundred day moving average price is $31.95. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -24.21 and a beta of 2.78.

Hycroft Mining (NASDAQ:HYMCGet Free Report) last issued its quarterly earnings results on Monday, July 27th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). On average, equities research analysts expect that Hycroft Mining Holding Corporation will post -0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP David Brian Thomas sold 25,000 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Diane R. Garrett sold 21,550 shares of Hycroft Mining stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $31.50, for a total transaction of $678,825.00. Following the completion of the sale, the chief executive officer directly owned 928,352 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 99,873 shares of company stock worth $2,884,778. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Hycroft Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hycroft Mining by 11.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock worth $1,490,000 after purchasing an additional 47,385 shares in the last quarter. Jane Street Group LLC bought a new stake in Hycroft Mining during the first quarter worth $124,000. Geode Capital Management LLC grew its holdings in Hycroft Mining by 1.4% during the second quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after buying an additional 3,146 shares in the last quarter. XTX Topco Ltd purchased a new stake in Hycroft Mining in the 2nd quarter valued at $101,000. Finally, Shay Capital LLC raised its position in Hycroft Mining by 100.2% in the 2nd quarter. Shay Capital LLC now owns 246,627 shares of the company’s stock valued at $772,000 after buying an additional 123,453 shares during the last quarter. Institutional investors own 7.38% of the company’s stock.

About Hycroft Mining

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Hycroft Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hycroft Mining and related companies with MarketBeat.com's FREE daily email newsletter.