Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Should You Sell?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $22.81, but opened at $21.58. Hycroft Mining shares last traded at $21.6370, with a volume of 291,498 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HYMC. Wall Street Zen upgraded Hycroft Mining from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. B. Riley Financial initiated coverage on Hycroft Mining in a research note on Monday, August 3rd. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Zacks Research raised shares of Hycroft Mining to a “hold” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.00.

Hycroft Mining Stock Performance

The firm has a market capitalization of $1.97 billion, a PE ratio of -21.39 and a beta of 2.83. The company has a fifty day simple moving average of $22.97 and a two-hundred day simple moving average of $30.86.

Hycroft Mining (NASDAQ:HYMC) last posted its quarterly earnings results on Monday, July 27th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.08). On average, equities analysts anticipate that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Rebecca Jennings sold 1,194 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $28.64, for a total transaction of $34,196.16. Following the sale, the senior vice president owned 202,498 shares of the company’s stock, valued at $5,799,542.72. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David Thomas sold 25,000 shares of Hycroft Mining stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $26.32, for a total value of $658,000.00. Following the completion of the transaction, the senior vice president owned 168,374 shares in the company, valued at $4,431,603.68. This trade represents a 12.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Hycroft Mining

A number of institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC raised its stake in shares of Hycroft Mining by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock worth $1,000,000 after acquiring an additional 475 shares in the last quarter. FNY Investment Advisers LLC boosted 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 valued at $35,000 after acquiring an additional 500 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Hycroft Mining in the first quarter worth $34,000. Hollencrest Capital Management purchased a new position in Hycroft Mining in the first quarter worth $35,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Hycroft Mining during the second quarter worth $25,000. 7.38% of the stock is currently owned by institutional investors.

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.