B. Riley Financial Begins Coverage on Hycroft Mining (NASDAQ:HYMC)

Equities researchers at B. Riley Financial began coverage on shares of Hycroft Mining (NASDAQ:HYMC) in a research report issued on Friday. The brokerage set a “buy” rating and a $28.00 price target on the stock. B. Riley Financial’s price objective suggests a potential upside of 28.44% from the company’s current price.

A number of other brokerages have also commented on HYMC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. Wall Street Zen raised shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Hycroft Mining Stock Up 4.9%

Shares of NASDAQ:HYMC opened at $21.80 on Friday. Hycroft Mining has a 12-month low of $3.22 and a 12-month high of $58.73. The stock has a market cap of $1.99 billion, a PE ratio of -18.32 and a beta of 2.71. The business has a 50 day moving average of $29.91 and a 200-day moving average of $34.64.

Hycroft Mining (NASDAQ:HYMC) last posted its earnings results on Monday, April 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.45).

Insider Buying and Selling

In related news, CFO Stanton K. Rideout sold 16,500 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.18, for a total value of $497,970.00. Following the transaction, the chief financial officer owned 481,947 shares in the company, valued at approximately $14,545,160.46. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rebecca Jennings sold 15,329 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $26.25, for a total value of $402,386.25. Following the completion of the transaction, the senior vice president directly owned 202,498 shares of the company’s stock, valued at approximately $5,315,572.50. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 99,873 shares of company stock valued at $2,884,778 in the last ninety days. 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. FNY Investment Advisers LLC boosted its position in shares of Hycroft Mining by 50.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,500 shares of the company’s stock worth $35,000 after acquiring an additional 500 shares in the last quarter. 180 Wealth Advisors LLC raised its position in Hycroft Mining by 186.6% during the second quarter. 180 Wealth Advisors LLC now owns 94,760 shares of the company’s stock valued at $2,217,000 after purchasing an additional 61,699 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Hycroft Mining during the first quarter worth $1,055,000. Bank of America Corp DE lifted its stake in Hycroft Mining by 6,228.3% during the first quarter. Bank of America Corp DE now owns 100,999 shares of the company’s stock worth $3,555,000 after purchasing an additional 99,403 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Hycroft Mining in the 1st quarter valued at $778,000. 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.