Hycroft Mining (NASDAQ:HYMC) Shares Gap Up Following Analyst Upgrade

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price gapped up before the market opened on Tuesday after Zacks Research upgraded the stock to a hold rating. The stock had previously closed at $20.43, but opened at $21.85. Hycroft Mining shares last traded at $21.9760, with a volume of 168,068 shares.

A number of other equities research analysts have also recently commented on HYMC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Tuesday, June 16th. Wall Street Zen raised shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Finally, B. Riley Financial began coverage on shares of Hycroft Mining in a research note on Friday, July 10th. They set a “buy” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hycroft Mining currently has an average rating of “Hold” and a consensus target price of $28.00.

Insider Activity at Hycroft Mining

In other Hycroft Mining news, SVP David Brian Thomas sold 25,000 shares of the stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Diane R. Garrett sold 21,550 shares of Hycroft Mining stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 928,352 shares in the company, valued at $29,243,088. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 99,873 shares of company stock worth $2,884,778 in the last quarter. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

A number of hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. acquired a new position in Hycroft Mining in the first quarter valued at about $34,000. Hollencrest Capital Management acquired a new position in shares of Hycroft Mining in the 1st quarter worth approximately $35,000. FNY Investment Advisers LLC boosted its position in shares of 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 purchasing an additional 1,000 shares during the period. Legacy Wealth Managment LLC ID acquired a new stake in Hycroft Mining in the 1st quarter valued at approximately $44,000. Finally, Harbor Investment Advisory LLC purchased a new stake in Hycroft Mining in the first quarter valued at approximately $49,000. 7.38% of the stock is currently owned by hedge funds and other institutional investors.

Hycroft Mining Price Performance

The business has a 50 day simple moving average of $28.69 and a 200 day simple moving average of $34.52. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -17.55 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMC) last posted its earnings results on Monday, April 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.45). On average, equities research analysts predict that Hycroft Mining Holding Corporation will post -0.9 EPS for the current year.

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.