Hycroft Mining (NASDAQ:HYMC) Shares Down 6.1% – Here’s Why

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) traded down 6.1% during mid-day trading on Thursday . The company traded as low as $29.81 and last traded at $30.1780. 1,267,144 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 3,674,916 shares. The stock had previously closed at $32.15.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised 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 Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hycroft Mining Price Performance

The business’s 50-day moving average price is $36.64 and its two-hundred day moving average price is $32.31. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -25.37 and a beta of 2.62.

Hycroft Mining (NASDAQ:HYMC) last posted its quarterly earnings data on Monday, April 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.45).

Insider Buying and Selling at Hycroft Mining

In other news, SVP Rebecca Jennings sold 9,071 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total transaction of $356,762.43. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Eric Sprott acquired 100,000 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were bought at an average cost of $37.84 per share, with a total value of $3,784,000.00. Following the purchase, the insider owned 37,403,704 shares in the company, valued at approximately $1,415,356,159.36. The trade was a 0.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HYMC. Global Retirement Partners LLC increased its position in Hycroft Mining by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock worth $1,000,000 after purchasing an additional 475 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in Hycroft Mining during the first quarter worth approximately $34,000. FNY Investment Advisers LLC increased its position 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 during the last quarter. Hollencrest Capital Management acquired a new position in Hycroft Mining during the first quarter worth approximately $35,000. Finally, Legacy Wealth Managment LLC ID acquired a new position in Hycroft Mining during the first quarter worth 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.