Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price gapped up prior to trading on Monday . The stock had previously closed at $11.70, but opened at $12.39. Hycroft Mining shares last traded at $12.0550, with a volume of 531,464 shares.

Analyst Ratings Changes

A number of analysts have recently weighed in on HYMC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Wednesday, October 8th. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Hycroft Mining Stock Performance

The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $981.79 million, a PE ratio of -7.47 and a beta of 2.47. The business has a 50 day simple moving average of $8.00 and a 200 day simple moving average of $5.33.

Hycroft Mining (NASDAQ:HYMC) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02.

Insiders Place Their Bets

In other news, SVP David Brian Thomas sold 20,000 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $7.39, for a total transaction of $147,800.00. Following the sale, the senior vice president directly owned 96,070 shares of the company’s stock, valued at $709,957.30. The trade was a 17.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Eric Sprott bought 500,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $9.41 per share, for a total transaction of $4,705,000.00. Following the completion of the transaction, the insider owned 26,725,528 shares in the company, valued at $251,487,218.48. This trade represents a 1.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 18,034,704 shares of company stock valued at $98,720,333. Insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of Hycroft Mining by 166.6% during the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after purchasing an additional 2,537 shares during the period. Occudo Quantitative Strategies LP purchased a new position in Hycroft Mining during the 3rd quarter worth approximately $96,000. Virtu Financial LLC lifted its stake in Hycroft Mining by 20.3% during the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after acquiring an additional 2,700 shares during the period. XTX Topco Ltd acquired a new stake in Hycroft Mining during the 2nd quarter valued at approximately $101,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Hycroft Mining by 5,537.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 32,413 shares of the company’s stock valued at $201,000 after acquiring an additional 31,838 shares during the last quarter. 7.38% of the stock is owned by institutional investors and hedge funds.

About Hycroft Mining

Hycroft Mining Holding Corporation, together with its subsidiaries, operates as a gold and silver development company in the United States. The company holds interests in the Hycroft mine that consists of 30 private parcels with patented claims comprising approximately 1,787 acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres located in the state of Nevada.