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

Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down prior to trading on Tuesday . The stock had previously closed at $49.59, but opened at $47.34. Hycroft Mining shares last traded at $47.5530, with a volume of 2,210,790 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HYMC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Hycroft Mining Trading Up 5.9%

The business’s 50 day moving average price is $22.06 and its two-hundred day moving average price is $11.50. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of -32.35 and a beta of 2.64.

Hycroft Mining (NASDAQ:HYMC) last announced its earnings results on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02.

Insiders Place Their Bets

In other Hycroft Mining news, SVP David Brian Thomas sold 15,000 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $21.21, for a total value of $318,150.00. Following the sale, the senior vice president directly owned 81,070 shares in the company, valued at approximately $1,719,494.70. The trade was a 15.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Eric Sprott acquired 200,000 shares of Hycroft Mining stock in a transaction dated Wednesday, January 14th. The shares were acquired at an average price of $33.21 per share, with a total value of $6,642,000.00. Following the transaction, the insider owned 36,453,704 shares in the company, valued at approximately $1,210,627,509.84. This represents a 0.55% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 5,455,824 shares of company stock worth $73,819,837 in the last three months. Company insiders own 1.31% of the company’s stock.

Institutional Trading of Hycroft Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in HYMC. FNY Investment Advisers LLC grew its position in Hycroft Mining by 1,666.7% in the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after buying an additional 1,000 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Hycroft Mining by 166.6% in the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after acquiring an additional 2,537 shares during the last quarter. Virtu Financial LLC raised its position in shares of Hycroft Mining by 20.3% during the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after purchasing an additional 2,700 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Hycroft Mining by 1.4% during the second quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after purchasing an additional 3,146 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Hycroft Mining in the 4th quarter valued at $320,000. 7.38% of the stock is owned by institutional investors and hedge funds.

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.