Hycroft Mining (NASDAQ:HYMC) Shares Up 9.3% – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC) traded up 9.3% during mid-day trading on Friday . The company traded as high as $23.73 and last traded at $23.9220. Approximately 1,013,153 shares were traded during trading, a decline of 71% from the average daily volume of 3,529,221 shares. The stock had previously closed at $21.89.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HYMC shares. Wall Street Zen upgraded shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hycroft Mining has an average rating of “Sell”.

Hycroft Mining Trading Up 7.9%

The firm’s 50 day simple moving average is $33.32 and its two-hundred day simple moving average is $33.96. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -19.85 and a beta of 2.62.

Hycroft Mining (NASDAQ:HYMC) last announced its earnings results on Monday, April 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.45).

Insiders Place Their Bets

In other news, CEO Diane R. Garrett sold 21,550 shares of Hycroft Mining stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $31.50, for a total value of $678,825.00. Following the transaction, the chief executive officer owned 928,352 shares in the company, valued at approximately $29,243,088. This trade represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rebecca Jennings sold 15,329 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were 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 in the company, valued at $5,315,572.50. This trade represents a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,873 shares of company stock valued at $2,884,778 over the last 90 days. 0.77% of the stock is owned by company insiders.

Institutional Trading of Hycroft Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC grew its holdings in shares of Hycroft Mining by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock worth $1,000,000 after purchasing an additional 475 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in Hycroft Mining during the 1st quarter worth approximately $34,000. FNY Investment Advisers LLC increased its position in Hycroft Mining by 1,666.7% in the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after acquiring an additional 1,000 shares during the period. Hollencrest Capital Management acquired a new position in shares of Hycroft Mining during the first quarter worth $35,000. Finally, Legacy Wealth Managment LLC ID bought a new stake in shares of Hycroft Mining in the 1st quarter valued at about $44,000. 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.