Hycroft Mining (NASDAQ:HYMC) Stock Price Down 2% – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price traded down 2% during trading on Wednesday . The stock traded as low as $34.14 and last traded at $35.93. 2,251,979 shares were traded during mid-day trading, a decline of 59% from the average session volume of 5,439,865 shares. The stock had previously closed at $36.65.

Analysts Set New Price Targets

Several research firms recently issued reports on HYMC. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Hycroft Mining Price Performance

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 firm has a fifty day simple moving average of $28.73 and a two-hundred day simple moving average of $14.37. The firm has a market cap of $2.98 billion, a PE ratio of -22.18 and a beta of 2.62.

Insider Transactions at Hycroft Mining

In other news, SVP David Brian Thomas sold 15,000 shares of Hycroft Mining 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 in the company, valued at approximately $1,719,494.70. The trade was a 15.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Eric Sprott purchased 200,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was bought at an average price of $45.99 per share, with a total value of $9,198,000.00. Following the completion of the transaction, the insider owned 36,753,704 shares of the company’s stock, valued at $1,690,302,846.96. The trade was a 0.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 5,255,824 shares of company stock worth $83,978,837. Insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after purchasing an additional 1,702,288 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Hycroft Mining during the fourth quarter valued at approximately $39,815,000. Tidal Investments LLC grew its stake in shares of Hycroft Mining by 125.3% during the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after buying an additional 871,030 shares during the last quarter. UBS Group AG raised its holdings in shares of Hycroft Mining by 711.9% in the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock worth $5,859,000 after buying an additional 828,625 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Hycroft Mining by 158.6% during the 4th quarter. Geode Capital Management LLC now owns 800,532 shares of the company’s stock worth $19,038,000 after acquiring an additional 490,961 shares during the last quarter. Hedge funds and other 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.