Hycroft Mining (NASDAQ:HYMC) Trading Up 6.3% – Time to Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares rose 6.3% during mid-day trading on Wednesday . The stock traded as high as $22.18 and last traded at $22.0320. 313,832 shares changed hands during trading, a decline of 91% from the average session volume of 3,353,634 shares. The stock had previously closed at $20.72.

Analysts Set New Price Targets

Several research firms recently issued reports on HYMC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. Wall Street Zen raised Hycroft Mining from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Zacks Research upgraded shares of Hycroft Mining to a “hold” rating in a research report on Monday, July 13th. Finally, B. Riley Financial assumed coverage on shares of Hycroft Mining in a research note on Friday, July 10th. They issued a “buy” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.00.

Hycroft Mining Stock Performance

The firm’s 50-day simple moving average is $26.90 and its 200 day simple moving average is $34.39. The company has a market cap of $2.01 billion, a P/E ratio of -18.52 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMC) last posted its quarterly earnings results on Monday, April 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.45). As a group, research analysts forecast that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current year.

Insider Transactions at Hycroft Mining

In other news, CFO Stanton K. Rideout sold 16,500 shares of the business’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 directly owned 481,947 shares in the company, valued at approximately $14,545,160.46. The trade was a 3.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Eric Sprott purchased 100,000 shares of the stock in a transaction dated Friday, April 24th. The stock was bought at an average cost of $37.84 per share, with a total value of $3,784,000.00. Following the completion of the purchase, the insider owned 37,403,704 shares in the company, valued at $1,415,356,159.36. The trade was a 0.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 99,873 shares of company stock valued at $2,884,778. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Hycroft Mining by 150.2% in the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after purchasing an additional 1,702,288 shares during the period. Franklin Resources Inc. bought a new stake in shares of Hycroft Mining in the 4th quarter valued at $39,815,000. Tidal Investments LLC raised its stake in 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 buying an additional 871,030 shares during the period. Schroder Investment Management Group acquired a new stake in Hycroft Mining during the 4th quarter worth $36,366,000. Finally, UBS Group AG lifted its holdings in Hycroft Mining by 5.4% during the fourth quarter. UBS Group AG now owns 996,148 shares of the company’s stock worth $23,678,000 after acquiring an additional 51,126 shares in the last quarter. 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.