Hycroft Mining (NASDAQ:HYMC) Shares Down 7.9% – Should You Sell?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares dropped 7.9% during mid-day trading on Thursday . The stock traded as low as $33.01 and last traded at $33.10. Approximately 3,294,527 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 5,368,079 shares. The stock had previously closed at $35.93.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Hycroft Mining currently has an average rating of “Sell”.

Hycroft Mining Price Performance

The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83. The business’s 50 day simple moving average is $29.22 and its two-hundred day simple moving average is $14.52. The stock has a market capitalization of $2.75 billion, a P/E ratio of -20.43 and a beta of 2.62.

Insider Buying and Selling

In other news, SVP David Brian Thomas sold 15,000 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $21.21, for a total value 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 $1,719,494.70. This represents a 15.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Eric Sprott bought 200,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was bought at an average price of $45.99 per share, for a total transaction of $9,198,000.00. Following the acquisition, the insider directly owned 36,753,704 shares of the company’s stock, valued at approximately $1,690,302,846.96. This represents a 0.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 4,755,824 shares of company stock valued at $79,273,837 over the last three months. Corporate insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Hycroft Mining by 150.2% in the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after purchasing an additional 1,702,288 shares during the last quarter. Franklin Resources Inc. purchased a new position in Hycroft Mining during the fourth quarter worth about $39,815,000. Tidal Investments LLC boosted 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 worth $9,711,000 after purchasing an additional 871,030 shares during the last quarter. UBS Group AG grew its position in Hycroft Mining by 5.4% in the 4th 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hycroft Mining by 43.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 882,624 shares of the company’s stock valued at $5,472,000 after buying an additional 268,633 shares during the last quarter. 7.38% of the stock is owned by hedge funds and other institutional investors.

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.