Hycroft Mining (NASDAQ:HYMC) Shares Up 10.5% – Still a Buy?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) shot up 10.5% during trading on Wednesday . The stock traded as high as $23.63 and last traded at $23.8950. Approximately 464,785 shares traded hands during trading, a decline of 85% from the average session volume of 3,074,158 shares. The stock had previously closed at $21.63.

Wall Street Analyst Weigh In

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

Hycroft Mining Stock Up 5.5%

The stock has a market cap of $2.13 billion, a PE ratio of -23.04 and a beta of 2.83. The company’s fifty day moving average is $23.06 and its 200 day moving average is $31.65.

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

Insider Buying and Selling at Hycroft Mining

In other Hycroft Mining news, CEO Diane R. Garrett sold 21,550 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $31.50, for a total value of $678,825.00. Following the transaction, the chief executive officer directly owned 928,352 shares of the company’s stock, valued at $29,243,088. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rebecca Jennings sold 15,329 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $26.25, for a total value of $402,386.25. Following the transaction, the senior vice president owned 202,498 shares in the company, valued at approximately $5,315,572.50. This represents a 7.04% decrease in their position. 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. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after buying an additional 2,537 shares during the period. Contravisory Investment Management Inc. purchased a new position in Hycroft Mining in the 1st quarter worth approximately $34,000. Hollencrest Capital Management acquired a new stake in Hycroft Mining in the first quarter valued at approximately $35,000. FNY Investment Advisers LLC grew its position 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. Finally, Legacy Wealth Managment LLC ID acquired a new stake in Hycroft Mining in the first quarter valued at 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.