Hycroft Mining (NASDAQ:HYMC) Announces Quarterly Earnings Results

Hycroft Mining (NASDAQ:HYMC) announced its quarterly earnings results on Monday. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08), FiscalAI reports.

Hycroft Mining Trading Down 1.5%

HYMC opened at $20.12 on Wednesday. Hycroft Mining has a 1-year low of $3.22 and a 1-year high of $58.73. The company has a market capitalization of $1.84 billion, a PE ratio of -16.91 and a beta of 2.71. The firm’s 50 day simple moving average is $25.22 and its two-hundred day simple moving average is $34.16.

Insider Buying and Selling at Hycroft Mining

In other news, SVP David Brian Thomas sold 25,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $26.32, for a total transaction of $658,000.00. Following the completion of the sale, the senior vice president owned 168,374 shares of the company’s stock, valued at $4,431,603.68. The trade was a 12.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Diane R. Garrett sold 21,550 shares of the company’s 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 completion of the sale, the chief executive officer owned 928,352 shares of the company’s stock, valued at $29,243,088. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 99,873 shares of company stock worth $2,884,778. 0.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HYMC. Regal Partners Ltd bought a new position in shares of Hycroft Mining during the 4th quarter valued at approximately $7,480,000. Garton & Associates Financial Advisors LLC bought a new stake in Hycroft Mining during the 4th quarter worth approximately $52,000. Millennium Management LLC lifted its holdings in Hycroft Mining by 61.6% during the fourth quarter. Millennium Management LLC now owns 571,526 shares of the company’s stock valued at $13,585,000 after purchasing an additional 217,866 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Hycroft Mining during the fourth quarter valued at approximately $303,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Hycroft Mining in the fourth quarter worth approximately $583,000. Institutional investors own 7.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. Zacks Research upgraded shares of Hycroft Mining to a “hold” rating in a research note on Monday, July 13th. Finally, B. Riley Financial began coverage on Hycroft Mining in a report on Friday, July 10th. They set a “buy” rating and a $28.00 price target on the stock. 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.00.

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.