Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $39.31, but opened at $33.84. Hycroft Mining shares last traded at $33.99, with a volume of 1,516,853 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HYMC shares. Wall Street Zen upgraded shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Hycroft Mining Stock Performance

The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of -21.35 and a beta of 2.62. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83. The company has a 50 day simple moving average of $26.77 and a 200-day simple moving average of $13.40.

Insider Buying and Selling at Hycroft Mining

In related news, SVP David Brian Thomas sold 15,000 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $21.21, for a total value of $318,150.00. Following the completion of the sale, the senior vice president directly owned 81,070 shares of the company’s stock, valued at $1,719,494.70. The trade was a 15.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Eric Sprott purchased 200,000 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was purchased at an average price of $45.99 per share, for a total transaction of $9,198,000.00. Following the acquisition, the insider owned 36,753,704 shares of the company’s stock, valued at approximately $1,690,302,846.96. This represents a 0.55% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 5,755,824 shares of company stock valued at $88,013,837. Insiders own 1.31% of the company’s stock.

Institutional Trading of Hycroft Mining

Several hedge funds have recently bought and sold shares of the business. UBS Group AG raised its holdings in Hycroft Mining by 5.4% during the fourth quarter. UBS Group AG now owns 996,148 shares of the company’s stock worth $23,678,000 after buying an additional 51,126 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Hycroft Mining by 150.2% in the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after purchasing an additional 1,702,288 shares in the last quarter. U S Global Investors Inc. bought a new stake in Hycroft Mining during the fourth quarter worth $238,000. Mountain Capital Investment Advisors Inc. purchased a new stake in Hycroft Mining in the 4th quarter valued at $156,000. Finally, Lincoln Capital Corp bought a new position in Hycroft Mining during the 4th quarter valued at $952,000. Institutional investors and hedge funds own 7.38% of the company’s stock.

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.