Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Should You Sell?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down before the market opened on Wednesday. The stock had previously closed at $19.09, but opened at $18.08. Hycroft Mining shares last traded at $18.0050, with a volume of 352,665 shares.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Friday, September 11th. B. Riley Financial started coverage on Hycroft Mining in a report on Monday, August 3rd. They set a “buy” rating and a $25.00 price target for the company. Finally, Zacks Research upgraded Hycroft Mining to a “hold” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.00.

Hycroft Mining Stock Performance

The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -18.39 and a beta of 2.78. The firm’s 50-day simple moving average is $22.76 and its two-hundred day simple moving average is $27.75.

Hycroft Mining (NASDAQ:HYMC) last announced its earnings results on Monday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). Equities research analysts expect that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HYMC. California State Teachers Retirement System bought a new position in shares of Hycroft Mining in the 1st quarter valued at about $1,958,000. 180 Wealth Advisors LLC raised its stake in shares of Hycroft Mining by 186.6% during the second quarter. 180 Wealth Advisors LLC now owns 94,760 shares of the company’s stock worth $2,217,000 after buying an additional 61,699 shares during the last quarter. Ninepoint Partners LP acquired a new position in Hycroft Mining in the second quarter valued at approximately $14,705,000. Swiss National Bank acquired a new position in Hycroft Mining in the first quarter valued at approximately $3,362,000. Finally, Amundi bought a new position in Hycroft Mining in the first quarter valued at approximately $14,471,000. 7.38% of the stock is currently owned by institutional investors.

About Hycroft Mining

Hycroft Mining Holding Corporation is a U.S.-based precious metals exploration and development company focused on the Hycroft Mine, a large gold and silver property in Humboldt County, Nevada, near Winnemucca. The company’s activities include mineral exploration, resource evaluation, mine planning, permitting and the development of processing methods intended to support future production.

The Hycroft Mine is an open-pit property that historically produced gold and silver using heap-leach processing.