Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $23.14, but opened at $21.95. Hycroft Mining shares last traded at $21.7190, with a volume of 578,459 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HYMC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. Wall Street Zen raised Hycroft Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hycroft Mining has an average rating of “Sell”.

Hycroft Mining Trading Down 5.9%

The stock has a market cap of $1.99 billion, a P/E ratio of -18.31 and a beta of 2.62. The firm has a 50-day simple moving average of $34.07 and a two-hundred day simple moving average of $33.82.

Hycroft Mining (NASDAQ:HYMC) last announced its 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).

Insider Transactions at Hycroft Mining

In other Hycroft Mining news, major shareholder Eric Sprott bought 100,000 shares of the 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 completion of the acquisition, the insider owned 37,403,704 shares of the company’s stock, valued at $1,415,356,159.36. This trade represents a 0.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Rebecca Jennings sold 1,194 shares of Hycroft Mining stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $28.64, for a total transaction of $34,196.16. Following the completion of the sale, the senior vice president owned 202,498 shares of the company’s stock, valued at approximately $5,799,542.72. The trade was a 0.59% 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 have sold 99,873 shares of company stock worth $2,884,778. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 acquiring an additional 47,385 shares during the period. Jane Street Group LLC bought a new stake in shares of Hycroft Mining during the 1st quarter valued at $124,000. Geode Capital Management LLC lifted its position 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 acquiring an additional 3,146 shares during the period. XTX Topco Ltd acquired a new stake in shares of Hycroft Mining during the 2nd quarter worth $101,000. Finally, Shay Capital LLC grew its holdings in shares of Hycroft Mining by 100.2% during the 2nd quarter. Shay Capital LLC now owns 246,627 shares of the company’s stock worth $772,000 after purchasing an additional 123,453 shares in the last quarter. 7.38% of the stock is currently 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.