Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Time to Sell?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $39.31, but opened at $33.84. Hycroft Mining shares last traded at $33.99, with a volume of 1,516,853 shares changing hands.

Analysts Set New Price Targets

HYMC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Hycroft Mining Price Performance

The business’s 50-day simple moving average is $27.69 and its two-hundred day simple moving average is $13.75. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -21.35 and a beta of 2.62. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87.

Insiders Place Their Bets

In other news, SVP David Brian Thomas sold 15,000 shares of the company’s 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 transaction, the senior vice president 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Eric Sprott acquired 200,000 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was acquired at an average price of $45.99 per share, with a total value of $9,198,000.00. Following the acquisition, the insider owned 36,753,704 shares in the company, valued at $1,690,302,846.96. The trade was a 0.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 5,755,824 shares of company stock worth $88,013,837 in the last 90 days. 1.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hycroft Mining

Several large investors have recently modified their holdings of the business. FNY Investment Advisers LLC lifted its holdings in shares of Hycroft Mining by 1,666.7% during the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after purchasing an additional 1,000 shares during the period. Bank of America Corp DE lifted its holdings in Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after buying an additional 2,537 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of Hycroft Mining in the 3rd quarter valued at about $96,000. Virtu Financial LLC grew its position in shares of Hycroft Mining by 20.3% in the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after buying an additional 2,700 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Hycroft Mining during the second quarter worth about $101,000. Institutional investors own 7.38% of the company’s stock.

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.