Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Time to Sell?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $34.47, but opened at $32.44. Hycroft Mining shares last traded at $33.93, with a volume of 506,019 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hycroft Mining Stock Performance

The business has a 50-day simple moving average of $40.68 and a 200 day simple moving average of $22.18. The firm has a market cap of $2.94 billion, a P/E ratio of -19.91 and a beta of 2.58.

Insider Buying and Selling

In related news, major shareholder Eric Sprott acquired 400,000 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was acquired at an average cost of $22.70 per share, for a total transaction of $9,080,000.00. Following the acquisition, the insider owned 31,456,352 shares of the company’s stock, valued at $714,059,190.40. This trade represents a 1.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Brian Thomas sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $21.21, for a total transaction 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 approximately $1,719,494.70. This represents a 15.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have purchased 1,475,000 shares of company stock valued at $49,251,750. 1.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HYMC. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hycroft Mining during the fourth quarter valued at approximately $3,328,000. Virtu Financial LLC raised its holdings in Hycroft Mining by 194.6% in the fourth quarter. Virtu Financial LLC now owns 47,208 shares of the company’s stock worth $1,122,000 after purchasing an additional 31,185 shares in the last quarter. Regal Partners Ltd purchased a new position in Hycroft Mining during the fourth quarter valued at $7,480,000. Garton & Associates Financial Advisors LLC purchased a new position in Hycroft Mining during the fourth quarter valued at $52,000. Finally, Millennium Management LLC boosted its holdings in shares of Hycroft Mining by 61.6% during the 4th quarter. Millennium Management LLC now owns 571,526 shares of the company’s stock valued at $13,585,000 after buying an additional 217,866 shares in the last quarter. Institutional investors 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.