Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Should You Sell?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $25.74, but opened at $24.91. Hycroft Mining shares last traded at $25.6080, with a volume of 357,636 shares changing hands.

Wall Street Analysts Forecast Growth

HYMC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. Zacks Research raised Hycroft Mining to a “hold” rating in a report on Monday, July 13th. Wall Street Zen upgraded Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Finally, B. Riley Financial started coverage on Hycroft Mining in a report on Monday, August 3rd. They set a “buy” rating and a $25.00 price target for the company. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.00.

Hycroft Mining Stock Performance

The firm has a market cap of $2.38 billion, a P/E ratio of -25.79 and a beta of 2.78. The firm’s fifty day moving average is $23.18 and its 200 day moving average is $32.16.

Hycroft Mining (NASDAQ:HYMC) last released its quarterly earnings results on Monday, July 27th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.08). As a group, equities research analysts forecast that Hycroft Mining Holding Corporation will post -0.9 EPS for the current year.

Insider Transactions at Hycroft Mining

In related news, SVP David Brian Thomas sold 25,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.32, for a total value of $658,000.00. Following the completion of the sale, the senior vice president directly owned 168,374 shares in the company, valued at $4,431,603.68. The trade was a 12.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Diane R. Garrett sold 21,550 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $31.50, for a total value of $678,825.00. Following the completion of the transaction, the chief executive officer directly owned 928,352 shares in the company, valued at approximately $29,243,088. This represents a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 99,873 shares of company stock worth $2,884,778 in the last ninety days. 0.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hycroft Mining

A number of institutional investors have recently modified their holdings of HYMC. Bank of America Corp DE increased its position in Hycroft Mining by 166.6% during the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after acquiring an additional 2,537 shares during the period. Contravisory Investment Management Inc. bought a new stake in Hycroft Mining in the 1st quarter valued at about $34,000. Hollencrest Capital Management acquired a new position in shares of Hycroft Mining during the 1st quarter worth approximately $35,000. FNY Investment Advisers LLC increased its holdings in shares of Hycroft Mining by 50.0% during the second quarter. FNY Investment Advisers LLC now owns 1,500 shares of the company’s stock worth $35,000 after purchasing an additional 500 shares during the period. Finally, Legacy Wealth Managment LLC ID bought a new position in shares of Hycroft Mining during the first quarter worth approximately $44,000. Institutional investors own 7.38% of the company’s stock.

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.