Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Here’s Why

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares gapped down before the market opened on Monday . The stock had previously closed at $25.01, but opened at $22.81. Hycroft Mining shares last traded at $22.0790, with a volume of 1,413,115 shares traded.

Analyst Upgrades and Downgrades

HYMC has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Wednesday, October 8th. Wall Street Zen upgraded 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, Hycroft Mining has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The business’s fifty day moving average price is $11.57 and its 200-day moving average price is $7.09. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -13.96 and a beta of 2.71. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87.

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

Insider Buying and Selling

In other news, major shareholder Eric Sprott bought 150,000 shares of the stock in a transaction on Friday, December 19th. The shares were acquired at an average cost of $16.31 per share, for a total transaction of $2,446,500.00. Following the purchase, the insider directly owned 30,756,352 shares of the company’s stock, valued at $501,636,101.12. This trade represents a 0.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marni Wieshofer sold 3,859 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $13.37, for a total transaction of $51,594.83. Following the completion of the transaction, the director directly owned 70,125 shares of the company’s stock, valued at approximately $937,571.25. The trade was a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased a total of 12,120,824 shares of company stock worth $97,333,587 over the last 90 days. 1.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HYMC. Tidal Investments LLC raised its holdings in shares of Hycroft Mining by 125.3% during the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after buying an additional 871,030 shares in the last quarter. UBS Group AG raised its stake in shares of Hycroft Mining by 711.9% during the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after acquiring an additional 828,625 shares during the last quarter. LM Asset IM Inc. bought a new position in Hycroft Mining in the 2nd quarter worth $1,189,000. Millennium Management LLC bought a new position in Hycroft Mining in the third quarter worth about $2,193,000. Finally, Two Sigma Investments LP raised its position in shares of Hycroft Mining by 328.7% in the 3rd quarter. Two Sigma Investments LP now owns 387,375 shares of the company’s stock worth $2,402,000 after acquiring an additional 297,007 shares in the last quarter. 7.38% of the stock is currently owned by institutional investors.

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.