Hycroft Mining (NASDAQ:HYMC) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Hycroft Mining (NASDAQ:HYMC) from a sell rating to a strong sell rating in a research note released on Sunday morning.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Hycroft Mining Price Performance

NASDAQ HYMC opened at $38.44 on Friday. Hycroft Mining has a 12 month low of $2.71 and a 12 month high of $58.73. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -32.30 and a beta of 2.72. The company’s fifty day moving average price is $39.04 and its two-hundred day moving average price is $28.59.

Hycroft Mining (NASDAQ:HYMC) last released its earnings results on Tuesday, April 28th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.45).

Insider Transactions at Hycroft Mining

In other news, major shareholder Eric Sprott bought 100,000 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was purchased at an average price of $37.84 per share, for a total transaction of $3,784,000.00. Following the transaction, the insider owned 37,403,704 shares in the company, valued at approximately $1,415,356,159.36. This trade represents a 0.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Rebecca Jennings sold 9,071 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total transaction of $356,762.43. Following the completion of the sale, the senior vice president owned 215,794 shares in the company, valued at $8,487,178.02. The trade was a 4.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders purchased 550,000 shares of company stock worth $22,583,500. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently made changes to their positions in HYMC. Vanguard Group Inc. increased its position in Hycroft Mining by 150.2% in the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after acquiring an additional 1,702,288 shares during the period. Franklin Resources Inc. acquired a new position in Hycroft Mining during the 4th quarter worth $39,815,000. Schroder Investment Management Group bought a new position in shares of Hycroft Mining in the fourth quarter worth $36,366,000. Tidal Investments LLC grew its stake in shares of Hycroft Mining by 125.3% in the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after purchasing an additional 871,030 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of 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 purchasing an additional 828,625 shares during the period. 7.38% of the stock is currently owned by institutional investors and hedge funds.

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.