Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Here’s What Happened

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped up prior to trading on Wednesday . The stock had previously closed at $42.77, but opened at $45.51. Hycroft Mining shares last traded at $39.9520, with a volume of 3,954,120 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HYMC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Wednesday, October 8th. Wall Street Zen raised shares of 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, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hycroft Mining Stock Down 8.6%

The company’s fifty day simple moving average is $19.09 and its 200 day simple moving average is $10.28. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $3.25 billion, a P/E ratio of -24.44 and a beta of 2.64.

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

Insider Activity at Hycroft Mining

In other Hycroft Mining news, major shareholder Eric Sprott bought 200,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were purchased at an average price of $33.21 per share, for a total transaction of $6,642,000.00. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP David Brian Thomas sold 15,000 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $21.21, for a total transaction of $318,150.00. Following the completion of the sale, the senior vice president directly owned 81,070 shares in the company, valued at $1,719,494.70. This represents a 15.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 5,455,824 shares of company stock worth $73,819,837 and have sold 38,859 shares worth $517,545. Insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of HYMC. Tidal Investments LLC lifted its holdings 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 purchasing an additional 871,030 shares during the last quarter. UBS Group AG raised its stake in Hycroft Mining by 711.9% during the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after buying an additional 828,625 shares during the last quarter. LM Asset IM Inc. purchased a new stake in shares of Hycroft Mining in the second quarter worth $1,189,000. Millennium Management LLC bought a new position in shares of Hycroft Mining during the third quarter valued at $2,193,000. Finally, Two Sigma Investments LP raised its position in shares of Hycroft Mining by 328.7% in the 3rd quarter. Two Sigma Investments LP now owns 387,375 shares of the company’s stock worth $2,402,000 after purchasing an additional 297,007 shares during the last quarter. Hedge funds and other institutional investors own 7.38% of the company’s stock.

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.