Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $44.85, but opened at $42.94. Hycroft Mining shares last traded at $43.7020, with a volume of 665,975 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Hycroft Mining Trading Down 6.6%

The stock’s 50-day simple moving average is $38.97 and its 200-day simple moving average is $19.86. The firm has a market capitalization of $3.81 billion, a P/E ratio of -25.85 and a beta of 2.58.

Insider Activity

In other Hycroft Mining news, major shareholder Eric Sprott purchased 400,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average cost of $22.70 per share, with a total value of $9,080,000.00. Following the completion of the transaction, the insider owned 31,456,352 shares of the company’s stock, valued at $714,059,190.40. The trade was a 1.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 2,305,000 shares of company stock valued at $62,008,450 over the last three months. Corporate insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

Several large investors have recently made changes to their positions in HYMC. Sprott Inc. increased its holdings in Hycroft Mining by 11.7% during the third quarter. Sprott Inc. now owns 816,253 shares of the company’s stock worth $5,061,000 after buying an additional 85,490 shares during the last quarter. LM Asset IM Inc. bought a new position in shares of Hycroft Mining during the 2nd quarter valued at approximately $1,189,000. Quantbot Technologies LP bought a new position in shares of Hycroft Mining during the 3rd quarter valued at approximately $281,000. Bank of America Corp DE raised its holdings in shares of Hycroft Mining by 166.6% in the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after purchasing an additional 2,537 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Hycroft Mining in the fourth quarter valued at approximately $3,328,000. 7.38% of the stock is owned by hedge funds and other institutional investors.

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.