Hycroft Mining (NASDAQ:HYMC) Share Price Crosses Above 50-Day Moving Average – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $19.24 and traded as high as $21.66. Hycroft Mining shares last traded at $21.27, with a volume of 2,856,959 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on HYMC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Friday, September 11th. B. Riley Financial assumed coverage on Hycroft Mining in a research note on Monday, August 3rd. They issued a “buy” rating and a $25.00 target price on the stock. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hycroft Mining currently has an average rating of “Hold” and an average target price of $25.00.

Hycroft Mining Stock Performance

The business’s 50-day moving average is $19.09 and its 200-day moving average is $29.15. The company has a market capitalization of $1.74 billion, a PE ratio of -18.89 and a beta of 2.89.

Hycroft Mining (NASDAQ:HYMC) last announced 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). Analysts expect that Hycroft Mining Holding Corporation will post -0.90 EPS for the current year.

Insider Buying and Selling

In related news, Director Blake Rhodes purchased 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The shares were bought at an average price of $16.69 per share, for a total transaction of $50,070.00. Following the purchase, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rebecca Jennings sold 9,605 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $21.46, for a total value of $206,123.30. Following the transaction, the senior vice president directly owned 196,924 shares of the company’s stock, valued at approximately $4,225,989.04. This trade represents a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

Institutional investors have recently modified their holdings of the stock. Ninepoint Partners LP bought a new position in shares of Hycroft Mining during the second quarter valued at $14,705,000. Amundi bought a new position in Hycroft Mining in the 1st quarter worth about $14,471,000. Alps Advisors Inc. boosted its stake in Hycroft Mining by 693.9% in the 3rd quarter. Alps Advisors Inc. now owns 707,574 shares of the company’s stock worth $13,472,000 after purchasing an additional 618,447 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Hycroft Mining by 5.6% in the 1st quarter. Renaissance Technologies LLC now owns 303,264 shares of the company’s stock worth $10,675,000 after purchasing an additional 16,200 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Hycroft Mining by 1.9% during the 1st quarter. Cetera Investment Advisers now owns 220,201 shares of the company’s stock valued at $7,751,000 after purchasing an additional 4,121 shares during the last quarter. 7.38% of the stock is owned by hedge funds and other institutional investors.

About Hycroft Mining

Hycroft Mining Holding Corporation is a U.S.-based precious metals company focused on exploring and developing the Hycroft Mine, a large open-pit gold and silver project near Winnemucca in northern Nevada. The company’s activities include mineral exploration, mine planning and technical studies aimed at evaluating the property’s deposits. The Hycroft property contains both oxide and sulfide mineralization. Hycroft has focused on assessing the sulfide resources and potential processing approaches, while continuing exploration across the mine site.