Hycroft Mining (NASDAQ:HYMC) Stock: Insider Blake Rhodes Purchases 3,000 Shares

Hycroft Mining Holding Corporation (NASDAQ:HYMC) Director Blake Rhodes purchased 3,000 shares of Hycroft Mining stock in a transaction dated Wednesday, October 28th. The shares were bought at an average price of $16.69 per share, with a total value of $50,070.00. Following the completion of the acquisition, the director directly owned 7,068 shares of the company’s stock, valued at approximately $117,964.92. This represents a 73.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hycroft Mining Price Performance

HYMC opened at $17.27 on Friday. The firm has a market cap of $1.61 billion, a PE ratio of -17.44 and a beta of 2.78. The stock has a 50-day moving average price of $20.38 and a 200-day moving average price of $30.10. Hycroft Mining Holding Corporation has a 1 year low of $7.07 and a 1 year high of $58.73.

Hycroft Mining (NASDAQ:HYMC) last released its quarterly earnings data on Tuesday, October 27th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.11). As a group, sell-side analysts anticipate that Hycroft Mining Holding Corporation will post -0.90 EPS for the current year.

Institutional Investors Weigh In On Hycroft Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in HYMC. Hollencrest Capital Management purchased a new position in shares of Hycroft Mining in the 1st quarter worth $35,000. Integrated Wealth Concepts LLC bought a new stake in shares of Hycroft Mining in the second quarter worth $25,000. Legacy Wealth Managment LLC ID bought a new stake in shares of Hycroft Mining in the first quarter worth $44,000. Harbor Investment Advisory LLC purchased a new stake in Hycroft Mining during the first quarter valued at $49,000. Finally, KBC Group NV purchased a new stake in Hycroft Mining during the first quarter valued at $51,000. Hedge funds and other institutional investors own 7.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on HYMC. Zacks Research upgraded Hycroft Mining to a “hold” rating in a research note on Monday, July 13th. B. Riley Financial assumed coverage on Hycroft Mining in a research report on Monday, August 3rd. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a report on Friday, September 11th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.00.

Hycroft Mining Company Profile

Hycroft Mining Holding Corporation is a precious metals exploration and development company focused on the Hycroft Mine, an open-pit gold and silver property in Humboldt County, Nevada, near Winnemucca. The company owns and operates the Hycroft project, which includes extensive mineral rights and processing infrastructure.

The Hycroft Mine has a history of commercial gold and silver production using conventional open-pit mining and heap-leach processing methods. Hycroft Mining is currently focused primarily on exploration, technical studies and evaluating potential redevelopment and processing strategies for the property rather than operating as a conventional producing mine.

The company was formed through the restructuring of Allied Nevada Gold and has continued advancing the Hycroft project as a large-scale precious metals asset in the United States.