Hycroft Mining (NASDAQ:HYMC) Stock Price Down 9.2% – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) dropped 9.2% on Wednesday . The stock traded as low as $20.09 and last traded at $19.8540. 606,116 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,418,294 shares. The stock had previously closed at $21.86.

Analyst Ratings Changes

A number of research analysts have weighed in on HYMC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Tuesday, June 16th. Wall Street Zen upgraded Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. B. Riley Financial assumed coverage on Hycroft Mining in a report on Friday, July 10th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Zacks Research raised shares of Hycroft Mining to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.00.

Hycroft Mining Stock Performance

The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -15.49 and a beta of 2.71. The business has a fifty day simple moving average of $28.28 and a 200 day simple moving average of $34.47.

Hycroft Mining (NASDAQ:HYMC) last issued 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). On average, sell-side analysts forecast that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at Hycroft Mining

In other news, major shareholder Eric Sprott bought 100,000 shares of the company’s stock in a transaction on Friday, April 24th. The stock was purchased at an average cost of $37.84 per share, for a total transaction of $3,784,000.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this link. Also, SVP David Brian Thomas sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $26.32, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 99,873 shares of company stock valued at $2,884,778. Corporate insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HYMC. FNY Investment Advisers LLC lifted its stake in Hycroft Mining by 1,666.7% in the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after purchasing an additional 1,000 shares during the last quarter. Bank of America Corp DE grew its stake 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 worth $25,000 after acquiring an additional 2,537 shares during the period. Contravisory Investment Management Inc. purchased a new stake in Hycroft Mining in the 1st quarter worth about $34,000. Hollencrest Capital Management bought a new stake in Hycroft Mining in the 1st quarter valued at about $35,000. Finally, Legacy Wealth Managment LLC ID purchased a new stake in Hycroft Mining during the first quarter valued at about $44,000. Institutional investors own 7.38% of the company’s stock.

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.