Hycroft Mining (NASDAQ:HYMC) Trading 9.3% Higher – Here’s What Happened

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) were up 9.3% on Friday . The stock traded as high as $23.73 and last traded at $23.9220. Approximately 1,013,153 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 3,529,221 shares. The stock had previously closed at $21.89.

Analyst Ratings Changes

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

Hycroft Mining Trading Up 7.9%

The stock has a market capitalization of $2.16 billion, a PE ratio of -19.85 and a beta of 2.62. The stock’s fifty day simple moving average is $33.32 and its 200-day simple moving average is $33.96.

Hycroft Mining (NASDAQ:HYMC) last released its quarterly earnings results on Monday, April 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.45).

Insider Activity

In related news, SVP Rebecca Jennings sold 15,329 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $26.25, for a total transaction of $402,386.25. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Eric Sprott bought 200,000 shares of Hycroft Mining stock in a transaction dated Thursday, April 9th. The shares were bought at an average cost of $38.67 per share, with a total value of $7,734,000.00. Following the completion of the transaction, the insider directly owned 37,303,704 shares in the company, valued at approximately $1,442,534,233.68. This trade represents a 0.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 99,873 shares of company stock worth $2,884,778. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

Several large investors have recently added to or reduced their stakes in HYMC. FNY Investment Advisers LLC lifted its holdings in Hycroft Mining by 1,666.7% during 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 lifted 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 valued at $25,000 after buying an additional 2,537 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Hycroft Mining during the 1st quarter valued at approximately $34,000. Hollencrest Capital Management bought a new position in Hycroft Mining in the 1st quarter worth approximately $35,000. Finally, Legacy Wealth Managment LLC ID purchased a new position in Hycroft Mining in the 1st quarter valued at approximately $44,000. Hedge funds and other institutional investors 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.