Hycroft Mining (NASDAQ:HYMC) Shares Up 6.3% – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shot up 6.3% on Wednesday . The stock traded as high as $22.18 and last traded at $22.0320. 313,832 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 3,353,634 shares. The stock had previously closed at $20.72.

Analysts Set New Price Targets

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

Hycroft Mining Stock Performance

The firm has a market capitalization of $1.87 billion, a P/E ratio of -17.21 and a beta of 2.71. The business has a fifty day moving average of $26.09 and a 200-day moving average of $34.35.

Hycroft Mining (NASDAQ:HYMC) last announced its earnings results on Monday, April 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.45). On average, equities research analysts forecast that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Rebecca Jennings sold 15,329 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $26.25, for a total value of $402,386.25. Following the completion of the transaction, the senior vice president owned 202,498 shares in the company, valued at $5,315,572.50. This represents a 7.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Diane R. Garrett sold 21,550 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $31.50, for a total transaction of $678,825.00. Following the transaction, the chief executive officer directly owned 928,352 shares in the company, valued at approximately $29,243,088. The trade was a 2.27% decrease in their position. 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 three months. 0.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Hycroft Mining by 11.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock valued at $1,490,000 after acquiring an additional 47,385 shares during the period. Jane Street Group LLC acquired a new stake in Hycroft Mining in the first quarter worth approximately $124,000. Geode Capital Management LLC lifted its position in Hycroft Mining by 1.4% in the second quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after purchasing an additional 3,146 shares during the period. XTX Topco Ltd bought a new position in Hycroft Mining during the 2nd quarter valued at $101,000. Finally, Shay Capital LLC boosted its stake in Hycroft Mining by 100.2% during the 2nd quarter. Shay Capital LLC now owns 246,627 shares of the company’s stock valued at $772,000 after purchasing an additional 123,453 shares in the last quarter. 7.38% of the stock is currently owned by institutional investors.

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.