Hycroft Mining (NASDAQ:HYMC) Stock Falls 6.3% After Insider Selling

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) fell 6.3% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $19.54 and last traded at $19.9280. 333,655 shares changed hands during trading, a decline of 88% from the average session volume of 2,861,746 shares. The stock had previously closed at $21.27.

Specifically, SVP Rebecca Jennings sold 9,605 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $21.46, for a total value of $206,123.30. Following the sale, the senior vice president owned 196,924 shares in the company, valued at $4,225,989.04. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

A number of brokerages have issued reports on HYMC. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Friday, September 11th. Zacks Research raised shares of Hycroft Mining to a “hold” rating in a research note on Monday, July 13th. Finally, B. Riley Financial initiated coverage on shares of Hycroft Mining in a report on Monday, August 3rd. They set a “buy” rating and a $25.00 target price for the company. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Hycroft Mining Stock Performance

The stock has a market cap of $1.73 billion, a PE ratio of -18.84 and a beta of 2.89. The company has a 50 day moving average of $19.24 and a two-hundred day moving average of $29.45.

Hycroft Mining (NASDAQ:HYMC) last issued its quarterly earnings data on Tuesday, October 27th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.11). As a group, equities research analysts anticipate that Hycroft Mining Holding Corporation will post -0.90 EPS for the current year.

Institutional Investors Weigh In On Hycroft Mining

A number of institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new stake in Hycroft Mining in the 1st quarter worth $35,000. Integrated Wealth Concepts LLC purchased a new position in Hycroft Mining during the second quarter valued at $25,000. Legacy Wealth Managment LLC ID acquired a new stake in shares of Hycroft Mining in the first quarter valued at about $44,000. KBC Group NV acquired a new stake in shares of Hycroft Mining in the first quarter valued at about $51,000. Finally, FNY Investment Advisers LLC grew its position in shares of Hycroft Mining by 50.0% in the second quarter. FNY Investment Advisers LLC now owns 1,500 shares of the company’s stock valued at $35,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 7.38% of the company’s stock.

About Hycroft Mining

Hycroft Mining Holding Corporation is a U.S.-based precious metals company focused on exploring and developing the Hycroft Mine, a large open-pit gold and silver project near Winnemucca in northern Nevada. The company’s activities include mineral exploration, mine planning and technical studies aimed at evaluating the property’s deposits. The Hycroft property contains both oxide and sulfide mineralization. Hycroft has focused on assessing the sulfide resources and potential processing approaches, while continuing exploration across the mine site.