Ninepoint Partners LP Invests $14.71 Million in Hycroft Mining Holding Corporation $HYMC

Ninepoint Partners LP bought a new stake in Hycroft Mining Holding Corporation (NASDAQ:HYMC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 628,405 shares of the company’s stock, valued at approximately $14,705,000. Hycroft Mining comprises about 1.1% of Ninepoint Partners LP’s holdings, making the stock its 16th largest position. Ninepoint Partners LP owned approximately 0.67% of Hycroft Mining as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after acquiring an additional 1,702,288 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Hycroft Mining in the fourth quarter worth $39,815,000. Tidal Investments LLC raised its holdings in shares of Hycroft Mining by 125.3% during the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after purchasing an additional 871,030 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Hycroft Mining during the fourth quarter worth $36,366,000. Finally, UBS Group AG lifted its position in Hycroft Mining by 5.4% during the fourth quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after purchasing an additional 51,126 shares during the period. Institutional investors and hedge funds own 7.38% of the company’s stock.

Insider Buying and Selling at Hycroft Mining

In related news, CFO Stanton K. Rideout sold 16,500 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $30.18, for a total transaction of $497,970.00. Following the transaction, the chief financial officer directly owned 481,947 shares in the company, valued at approximately $14,545,160.46. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Diane R. Garrett sold 21,550 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $31.50, for a total transaction of $678,825.00. Following the completion of the sale, the chief executive officer owned 928,352 shares of the company’s stock, valued at approximately $29,243,088. The trade was a 2.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 99,873 shares of company stock valued at $2,884,778. Corporate insiders own 0.77% of the company’s stock.

Hycroft Mining Trading Down 6.3%

Shares of HYMC stock opened at $26.14 on Friday. Hycroft Mining Holding Corporation has a 12-month low of $3.68 and a 12-month high of $58.73. The business’s 50 day moving average is $23.19 and its two-hundred day moving average is $32.33. The company has a market capitalization of $2.44 billion, a P/E ratio of -26.40 and a beta of 2.78.

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). On average, research analysts predict that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HYMC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. Wall Street Zen upgraded Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Zacks Research upgraded Hycroft Mining to a “hold” rating in a research note on Monday, July 13th. Finally, 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 target for the company. One equities research 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 presently has an average rating of “Hold” and a consensus price target of $25.00.

Hycroft Mining Company Profile

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.