Hycroft Mining (NASDAQ:HYMC) Shares Down 5.7% – Here’s Why

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price traded down 5.7% during trading on Monday . The stock traded as low as $34.82 and last traded at $35.21. 5,629,006 shares were traded during mid-day trading, a decline of 4% from the average session volume of 5,867,176 shares. The stock had previously closed at $37.35.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HYMC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Hycroft Mining has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The firm has a 50-day moving average of $25.04 and a 200 day moving average of $12.72. The company has a market capitalization of $2.92 billion, a PE ratio of -21.73 and a beta of 2.61. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87.

Insider Buying and Selling

In related news, major shareholder Eric Sprott acquired 200,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was purchased at an average cost of $45.99 per share, with a total value of $9,198,000.00. Following the completion of the acquisition, the insider directly owned 36,753,704 shares of the company’s stock, valued at approximately $1,690,302,846.96. This trade represents a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP David Brian Thomas sold 15,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $21.21, for a total transaction of $318,150.00. Following the transaction, the senior vice president owned 81,070 shares in the company, valued at approximately $1,719,494.70. This trade represents a 15.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought 5,755,824 shares of company stock valued at $88,013,837 over the last quarter. Company insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

A number of institutional investors and hedge funds have recently modified their holdings of HYMC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Hycroft Mining by 11.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock worth $1,490,000 after acquiring an additional 47,385 shares during the period. Jane Street Group LLC purchased a new position in Hycroft Mining in the first quarter worth about $124,000. Timelo Investment Management Inc. purchased a new position in Hycroft Mining in the second quarter worth about $470,000. Geode Capital Management LLC grew its stake in shares of Hycroft Mining by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after purchasing an additional 3,146 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Hycroft Mining during the 2nd quarter valued at about $101,000. 7.38% of the stock is currently 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.