Hycroft Mining (NASDAQ:HYMC) Releases Earnings Results, Misses Estimates By $0.08 EPS

Hycroft Mining (NASDAQ:HYMC) announced its quarterly earnings results on Monday. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.08), FiscalAI reports.

Hycroft Mining Price Performance

Shares of Hycroft Mining stock opened at $20.43 on Tuesday. The firm’s fifty day simple moving average is $25.48 and its 200-day simple moving average is $34.23. Hycroft Mining has a 12 month low of $3.22 and a 12 month high of $58.73. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -17.17 and a beta of 2.71.

Insider Buying and Selling at Hycroft Mining

In other Hycroft Mining news, CEO Diane R. Garrett sold 21,550 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $29,243,088. This trade represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rebecca Jennings sold 1,194 shares of Hycroft Mining stock in a transaction on Monday, June 15th. The shares were sold at an average price of $28.64, for a total transaction of $34,196.16. Following the completion of the transaction, the senior vice president owned 202,498 shares in the company, valued at approximately $5,799,542.72. This represents a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,873 shares of company stock worth $2,884,778 in the last quarter. 0.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hycroft Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in HYMC. Bank of America Corp DE raised its stake 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 valued at $25,000 after acquiring an additional 2,537 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in shares of Hycroft Mining in the 4th quarter valued at approximately $52,000. Wells Fargo & Company MN acquired a new position in shares of Hycroft Mining in the fourth quarter valued at approximately $71,000. Kestra Advisory Services LLC acquired a new position in shares of Hycroft Mining in the fourth quarter valued at approximately $81,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Hycroft Mining during the third quarter worth approximately $96,000. Hedge funds and other institutional investors own 7.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Hycroft Mining

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.