Hycroft Mining (NASDAQ:HYMC) Stock Rating Upgraded by Zacks Research

Hycroft Mining (NASDAQ:HYMC) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research report issued on Monday,Zacks.com reports.

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

Hycroft Mining Price Performance

NASDAQ:HYMC opened at $21.86 on Monday. The company’s 50-day moving average is $29.07 and its two-hundred day moving average is $34.55. Hycroft Mining has a 1-year low of $3.22 and a 1-year high of $58.73. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -18.37 and a beta of 2.71.

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). As a group, equities analysts anticipate that Hycroft Mining will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hycroft Mining news, SVP Rebecca Jennings sold 1,194 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.64, for a total transaction of $34,196.16. Following the sale, the senior vice president directly owned 202,498 shares in the company, valued at $5,799,542.72. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Brian Thomas sold 25,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $26.32, for a total transaction of $658,000.00. Following the sale, the senior vice president directly owned 168,374 shares in the company, valued at $4,431,603.68. This represents a 12.93% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 99,873 shares of company stock valued at $2,884,778. Insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after buying an additional 1,702,288 shares during the period. Franklin Resources Inc. acquired a new stake in Hycroft Mining in the fourth quarter valued at approximately $39,815,000. Tidal Investments LLC lifted its position in shares of Hycroft Mining by 125.3% during the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after purchasing an additional 871,030 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Hycroft Mining during the 4th quarter worth about $36,366,000. Finally, UBS Group AG increased its stake in 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 last quarter. 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.