Hycroft Mining (NASDAQ:HYMC) Trading Down 8% – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price dropped 8% on Friday . The stock traded as low as $23.83 and last traded at $23.89. 1,043,917 shares were traded during trading, a decline of 66% from the average session volume of 3,095,378 shares. The stock had previously closed at $25.96.

Analyst Ratings Changes

HYMC has been the topic of several recent analyst reports. Zacks Research raised shares of Hycroft Mining to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. B. Riley Financial initiated coverage on Hycroft Mining in a report on Monday, August 3rd. They set a “buy” rating and a $25.00 price target on the stock. Finally, Wall Street Zen raised Hycroft Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. 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. Based on data from MarketBeat.com, Hycroft Mining has a consensus rating of “Hold” and an average target price of $25.00.

Hycroft Mining Price Performance

The business’s fifty day moving average is $23.16 and its 200-day moving average is $31.95. The firm has a market cap of $2.23 billion, a PE ratio of -24.21 and a beta of 2.78.

Hycroft Mining (NASDAQ:HYMC) last announced its quarterly earnings data on Monday, July 27th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.08). Analysts forecast that Hycroft Mining Holding Corporation will post -0.9 EPS for the current year.

Insider Transactions at Hycroft Mining

In other Hycroft Mining news, SVP David Brian Thomas sold 25,000 shares of the stock in a transaction 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 directly owned 168,374 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, SVP Rebecca Jennings sold 15,329 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $26.25, for a total value of $402,386.25. Following the completion of the sale, the senior vice president directly owned 202,498 shares of the company’s stock, valued at $5,315,572.50. This represents a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 99,873 shares of company stock worth $2,884,778 in the last ninety days. Company 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 the company. California State Teachers Retirement System bought a new position in Hycroft Mining during the first quarter worth about $1,958,000. 180 Wealth Advisors LLC raised its position 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 valued at $2,217,000 after purchasing an additional 61,699 shares during the period. UBS Group AG lifted its stake in shares of Hycroft Mining by 5.4% during the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after buying an additional 51,126 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in Hycroft Mining in the 4th quarter worth approximately $2,574,000. Finally, Swiss National Bank bought a new position in Hycroft Mining in the 1st quarter worth approximately $3,362,000. Hedge funds and other 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.