Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down prior to trading on Thursday . The stock had previously closed at $21.70, but opened at $20.45. Hycroft Mining shares last traded at $20.5050, with a volume of 199,358 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Tuesday, June 16th. Zacks Research raised shares of Hycroft Mining to a “hold” rating in a report on Monday, July 13th. Wall Street Zen raised shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Finally, B. Riley Financial initiated coverage on shares of Hycroft Mining in a research report on Friday, July 10th. They issued a “buy” rating and a $28.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $28.00.

Hycroft Mining Stock Performance

The company has a market capitalization of $1.86 billion, a PE ratio of -17.12 and a beta of 2.71. The company has a 50 day moving average price of $26.46 and a 200 day moving average price of $34.37.

Hycroft Mining (NASDAQ:HYMC) last issued 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). On average, equities analysts forecast that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hycroft Mining news, CFO Stanton K. Rideout sold 16,500 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $30.18, for a total transaction of $497,970.00. Following the sale, the chief financial officer owned 481,947 shares in the company, valued at $14,545,160.46. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Diane R. Garrett sold 21,550 shares of Hycroft Mining stock in a transaction that occurred 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 transaction, the chief executive officer owned 928,352 shares of the company’s stock, valued at approximately $29,243,088. The trade was a 2.27% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 99,873 shares of company stock worth $2,884,778. 0.77% of the stock is currently owned by insiders.

Institutional Trading of Hycroft Mining

Several institutional investors have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. bought a new stake in shares of Hycroft Mining during the 1st quarter valued at about $34,000. Hollencrest Capital Management acquired a new stake in Hycroft Mining in the first quarter worth $35,000. FNY Investment Advisers LLC boosted its holdings in shares of Hycroft Mining by 1,666.7% during the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after acquiring an additional 1,000 shares during the period. Legacy Wealth Managment LLC ID bought a new position in shares of Hycroft Mining during the first quarter worth about $44,000. Finally, Harbor Investment Advisory LLC bought a new stake in Hycroft Mining in the 1st quarter valued at about $49,000. 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.