Hycroft Mining (NASDAQ:HYMC) Issues Earnings Results

Hycroft Mining (NASDAQ:HYMC) issued its earnings results on Monday. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08), FiscalAI reports.

Hycroft Mining Stock Up 1.0%

NASDAQ HYMC opened at $20.43 on Tuesday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -17.17 and a beta of 2.71. Hycroft Mining has a twelve month low of $3.22 and a twelve month high of $58.73. The stock has a fifty day simple moving average of $25.48 and a 200 day simple moving average of $34.23.

Insider Buying and Selling

In other news, CFO Stanton K. Rideout sold 16,500 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $30.18, for a total value of $497,970.00. Following the completion of the sale, the chief financial officer owned 481,947 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, SVP David Brian Thomas sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $26.32, for a total value of $658,000.00. Following the transaction, the senior vice president owned 168,374 shares of the company’s stock, valued at $4,431,603.68. This trade represents a 12.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 99,873 shares of company stock valued at $2,884,778 over the last 90 days. 0.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hycroft Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in HYMC. Franklin Resources Inc. bought a new stake in Hycroft Mining in the fourth quarter valued at approximately $39,815,000. Schroder Investment Management Group bought a new position in Hycroft Mining during the 4th quarter worth approximately $36,366,000. Tidal Investments LLC raised its holdings 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 purchasing an additional 871,030 shares during the last quarter. UBS Group AG lifted its position in shares of Hycroft Mining by 711.9% in the 3rd quarter. UBS Group AG now owns 945,022 shares of the company’s stock worth $5,859,000 after purchasing an additional 828,625 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Hycroft Mining by 158.6% in the 4th quarter. Geode Capital Management LLC now owns 800,532 shares of the company’s stock worth $19,038,000 after purchasing an additional 490,961 shares during the period. 7.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HYMC has been the subject of several research analyst reports. Zacks Research upgraded shares of Hycroft Mining to a “hold” rating in a report on Monday, July 13th. Wall Street Zen raised Hycroft Mining from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. B. Riley Financial began coverage on Hycroft Mining in a research report on Friday, July 10th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.00.

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.