Hycroft Mining (NASDAQ:HYMC) Stock Price Down 7.1% – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price dropped 7.1% on Thursday . The company traded as low as $40.79 and last traded at $40.53. Approximately 502,130 shares were traded during trading, a decline of 87% from the average daily volume of 3,918,635 shares. The stock had previously closed at $43.63.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HYMC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. Wall Street Zen lowered Hycroft Mining from a “sell” rating to a “strong sell” rating in a research report on Sunday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The firm has a 50-day simple moving average of $38.36 and a 200 day simple moving average of $29.57. The company has a market capitalization of $3.68 billion, a PE ratio of -33.83 and a beta of 2.72.

Hycroft Mining (NASDAQ:HYMC) last released its quarterly earnings data on Monday, April 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.45).

Insider Activity

In other Hycroft Mining news, major shareholder Eric Sprott bought 100,000 shares of the stock in a transaction dated Friday, April 24th. The stock was bought at an average cost of $37.84 per share, for a total transaction of $3,784,000.00. Following the completion of the purchase, the insider directly owned 37,403,704 shares of the company’s stock, valued at approximately $1,415,356,159.36. The trade was a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Rebecca Jennings sold 9,071 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total value of $356,762.43. Following the sale, the senior vice president owned 215,794 shares of the company’s stock, valued at $8,487,178.02. This represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have bought 550,000 shares of company stock valued at $22,583,500 over the last 90 days. Insiders own 0.77% of the company’s stock.

Institutional Trading of Hycroft Mining

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC increased its holdings in Hycroft Mining by 1,666.7% in the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after buying an additional 1,000 shares during the last quarter. Bank of America Corp DE increased its holdings in Hycroft Mining by 166.6% in the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after buying an additional 2,537 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in Hycroft Mining in the first quarter valued at about $34,000. Hollencrest Capital Management bought a new stake in Hycroft Mining in the first quarter valued at about $35,000. Finally, Legacy Wealth Managment LLC ID bought a new stake in Hycroft Mining in the first quarter valued at about $44,000. 7.38% of the stock is owned by 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.