Hycroft Mining (NASDAQ:HYMC) Trading Up 9.1% – Should You Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) traded up 9.1% during mid-day trading on Wednesday . The stock traded as high as $24.55 and last traded at $24.39. Approximately 473,547 shares traded hands during trading, a decline of 85% from the average daily volume of 3,223,277 shares. The stock had previously closed at $22.36.

Analyst Ratings Changes

Several research firms have weighed in on HYMC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. Wall Street Zen raised shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. B. Riley Financial assumed coverage on shares of Hycroft Mining in a research report on Monday. They set a “buy” rating and a $25.00 price objective for the company. Finally, Zacks Research upgraded Hycroft Mining to a “hold” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Hycroft Mining currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Hycroft Mining Trading Up 10.2%

The stock has a 50 day moving average of $23.95 and a 200-day moving average of $33.79. The company has a market capitalization of $2.30 billion, a P/E ratio of -20.76 and a beta of 2.78.

Hycroft Mining (NASDAQ:HYMC) last released its earnings results on Tuesday, July 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.08). As a group, sell-side analysts expect that Hycroft Mining Holding Corporation will post -0.9 EPS for the current fiscal year.

Insider Activity

In other news, SVP David Brian Thomas sold 25,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $26.32, for a total value of $658,000.00. Following the completion of the sale, the senior vice president directly owned 168,374 shares of the company’s stock, valued at $4,431,603.68. This represents a 12.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stanton K. Rideout sold 16,500 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.18, for a total transaction of $497,970.00. Following the completion of the sale, the chief financial officer directly owned 481,947 shares of the company’s stock, valued at approximately $14,545,160.46. This trade represents a 3.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 99,873 shares of company stock valued at $2,884,778. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

A number of institutional investors have recently bought and sold shares of HYMC. Handelsbanken Fonder AB bought a new stake in Hycroft Mining during the second quarter valued at about $531,000. FNY Investment Advisers LLC boosted its stake in shares of Hycroft Mining by 50.0% in the second quarter. FNY Investment Advisers LLC now owns 1,500 shares of the company’s stock worth $35,000 after acquiring an additional 500 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of Hycroft Mining by 186.6% in the second quarter. 180 Wealth Advisors LLC now owns 94,760 shares of the company’s stock worth $2,217,000 after acquiring an additional 61,699 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Hycroft Mining during the first quarter worth about $1,055,000. Finally, Bank of America Corp DE grew its position in shares of Hycroft Mining by 6,228.3% during the first quarter. Bank of America Corp DE now owns 100,999 shares of the company’s stock worth $3,555,000 after purchasing an additional 99,403 shares in the last quarter. 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.