Hycroft Mining (NASDAQ:HYMC) Shares Down 7.6% – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) fell 7.6% on Wednesday . The company traded as low as $20.11 and last traded at $20.0650. 594,691 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,495,798 shares. The stock had previously closed at $21.71.

Wall Street Analyst Weigh In

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

Hycroft Mining Stock Performance

The firm has a fifty day simple moving average of $30.54 and a 200-day simple moving average of $34.56. The company has a market capitalization of $1.88 billion, a PE ratio of -17.28 and a beta of 2.71.

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, CEO Diane R. Garrett sold 21,550 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $31.50, for a total transaction of $678,825.00. Following the transaction, the chief executive officer directly owned 928,352 shares in the company, valued at $29,243,088. This represents a 2.27% 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 firm’s stock in a transaction on 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 in the company, valued at $1,415,356,159.36. This represents a 0.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 99,873 shares of company stock valued at $2,884,778 over the last ninety days. 0.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hycroft Mining

Hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new stake in Hycroft Mining during the first quarter valued at approximately $34,000. Hollencrest Capital Management bought a new position in Hycroft Mining during the 1st quarter worth approximately $35,000. FNY Investment Advisers LLC grew its position in shares of Hycroft Mining by 1,666.7% in the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after acquiring an additional 1,000 shares in the last quarter. Legacy Wealth Managment LLC ID acquired a new position in shares of Hycroft Mining in the 1st quarter worth approximately $44,000. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Hycroft Mining in the 1st quarter valued at approximately $49,000. 7.38% of the stock is currently owned by institutional investors and hedge funds.

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.