Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Should You Sell?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down prior to trading on Wednesday . The stock had previously closed at $23.14, but opened at $21.95. Hycroft Mining shares last traded at $21.7190, with a volume of 578,459 shares trading hands.

Wall Street Analyst Weigh In

HYMC has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. 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. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The firm has a fifty day moving average of $33.32 and a 200 day moving average of $33.96. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -18.39 and a beta of 2.62.

Hycroft Mining (NASDAQ:HYMC) last announced its quarterly 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).

Insider Activity

In related news, CEO Diane R. Garrett sold 21,550 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $31.50, for a total transaction of $678,825.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stanton K. Rideout sold 16,500 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $30.18, for a total transaction of $497,970.00. Following the completion of the transaction, the chief financial officer owned 481,947 shares of the company’s stock, valued at approximately $14,545,160.46. This trade represents a 3.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 99,873 shares of company stock valued at $2,884,778 in the last three months. Corporate insiders own 0.77% of the company’s stock.

Institutional Trading of Hycroft Mining

A number of institutional investors and hedge funds have recently made changes to their positions in HYMC. Vanguard Group Inc. lifted its position in shares of Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after buying an additional 1,702,288 shares in the last quarter. Franklin Resources Inc. purchased a new position in Hycroft Mining during the fourth quarter valued at $39,815,000. Tidal Investments LLC lifted its holdings in Hycroft Mining by 125.3% during the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after purchasing an additional 871,030 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Hycroft Mining in the fourth quarter valued at about $36,366,000. Finally, UBS Group AG grew its position in shares of Hycroft Mining by 5.4% in the fourth quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after purchasing an additional 51,126 shares during the period. 7.38% of the stock is currently owned by hedge funds and other institutional investors.

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.