Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares gapped up prior to trading on Wednesday . The stock had previously closed at $33.22, but opened at $36.36. Hycroft Mining shares last traded at $36.11, with a volume of 1,032,254 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Hycroft Mining has a consensus rating of “Sell”.

Hycroft Mining Trading Up 4.6%

The stock’s 50-day moving average price is $40.67 and its 200-day moving average price is $22.09. The company has a market capitalization of $3.16 billion, a P/E ratio of -21.45 and a beta of 2.58.

Insider Buying and Selling

In other news, SVP David Brian Thomas sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $21.21, for a total transaction of $318,150.00. Following the completion of the transaction, the senior vice president directly owned 81,070 shares of the company’s stock, valued at approximately $1,719,494.70. This represents a 15.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rebecca Jennings sold 9,071 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $39.33, for a total value of $356,762.43. Following the sale, the senior vice president owned 215,794 shares in the company, valued at $8,487,178.02. The trade was a 4.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired a total of 1,475,000 shares of company stock worth $49,251,750 over the last quarter. 1.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HYMC. FNY Investment Advisers LLC grew its stake in Hycroft Mining by 1,666.7% during the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after buying an additional 1,000 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in Hycroft Mining in the fourth quarter valued at $52,000. Wells Fargo & Company MN acquired a new position in shares of Hycroft Mining during the fourth quarter valued at $71,000. Kestra Advisory Services LLC bought a new position in shares of Hycroft Mining during the fourth quarter worth about $81,000. Finally, Bank of America Corp DE grew its position 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 acquiring an additional 2,537 shares during the last quarter. 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.