Hycroft Mining (NASDAQ:HYMC) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Hycroft Mining (NASDAQ:HYMC) to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Wall Street Zen raised Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. B. Riley Financial began coverage on Hycroft Mining in a research report on Friday, July 10th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Hycroft Mining Stock Up 7.0%

Shares of NASDAQ:HYMC opened at $21.86 on Monday. The stock has a market cap of $2.00 billion, a PE ratio of -18.37 and a beta of 2.71. The company’s fifty day moving average is $29.07 and its 200 day moving average is $34.55. Hycroft Mining has a 52 week low of $3.22 and a 52 week high of $58.73.

Hycroft Mining (NASDAQ:HYMC) last posted its quarterly earnings results on Monday, April 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.45). Sell-side analysts anticipate that Hycroft Mining will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Rebecca Jennings sold 1,194 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president directly owned 202,498 shares of the company’s stock, valued at approximately $5,799,542.72. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David Brian Thomas sold 25,000 shares of the company’s stock in a transaction dated 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 approximately $4,431,603.68. This trade represents a 12.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 99,873 shares of company stock worth $2,884,778. 0.77% of the stock is currently owned by insiders.

Institutional Trading of Hycroft Mining

Several large investors have recently modified their holdings of HYMC. Global Retirement Partners LLC raised its holdings in shares of Hycroft Mining by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock valued at $1,000,000 after acquiring an additional 475 shares in the last quarter. FNY Investment Advisers LLC lifted its stake in Hycroft Mining by 50.0% in the second quarter. FNY Investment Advisers LLC now owns 1,500 shares of the company’s stock worth $35,000 after acquiring an additional 500 shares during the period. Contravisory Investment Management Inc. bought a new stake in Hycroft Mining in the first quarter valued at $34,000. Hollencrest Capital Management bought a new stake in Hycroft Mining in the first quarter valued at $35,000. Finally, Legacy Wealth Managment LLC ID bought a new stake in Hycroft Mining in the first quarter valued at $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.