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

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down before the market opened on Tuesday . The stock had previously closed at $23.43, but opened at $22.13. Hycroft Mining shares last traded at $22.4230, with a volume of 372,802 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. B. Riley Financial started coverage on Hycroft Mining in a research report on Monday, August 3rd. They set a “buy” rating and a $25.00 price objective for the company. Finally, Zacks Research upgraded shares of Hycroft Mining to a “hold” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.00.

Hycroft Mining Stock Performance

The stock has a 50-day moving average of $23.09 and a two-hundred day moving average of $31.75. The company has a market cap of $2.09 billion, a P/E ratio of -22.66 and a beta of 2.78.

Hycroft Mining (NASDAQ:HYMC) last released its earnings results on Monday, July 27th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.08). Research analysts predict that Hycroft Mining Holding Corporation will post -0.9 EPS for the current year.

Insider Buying and Selling

In related news, CEO Diane R. Garrett sold 21,550 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 928,352 shares of the company’s stock, valued at $29,243,088. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stanton K. Rideout sold 16,500 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $30.18, for a total value of $497,970.00. Following the sale, the chief financial officer owned 481,947 shares in the company, valued at approximately $14,545,160.46. This represents a 3.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 99,873 shares of company stock worth $2,884,778 in the last 90 days. 0.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HYMC. California State Teachers Retirement System bought a new stake in Hycroft Mining in the 1st quarter worth about $1,958,000. 180 Wealth Advisors LLC lifted its position in Hycroft Mining by 186.6% during the second quarter. 180 Wealth Advisors LLC now owns 94,760 shares of the company’s stock valued at $2,217,000 after purchasing an additional 61,699 shares during the period. UBS Group AG boosted its holdings in Hycroft Mining by 5.4% in the fourth quarter. UBS Group AG now owns 996,148 shares of the company’s stock worth $23,678,000 after purchasing an additional 51,126 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in Hycroft Mining in the 4th quarter worth approximately $2,574,000. Finally, Swiss National Bank bought a new stake in Hycroft Mining in the 1st quarter worth approximately $3,362,000. 7.38% of the stock is owned by 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.