Hycroft Mining (NASDAQ:HYMC) Trading 7.5% Higher – Still a Buy?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) shot up 7.5% on Tuesday . The stock traded as high as $21.58 and last traded at $22.0670. Approximately 1,010,192 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 3,017,236 shares. The stock had previously closed at $20.53.

Wall Street Analyst Weigh In

A number of brokerages have commented on HYMC. Zacks Research raised shares of Hycroft Mining to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Friday, September 11th. B. Riley Financial started coverage on shares of Hycroft Mining in a report on Monday, August 3rd. They issued a “buy” rating and a $25.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.00.

Hycroft Mining Price Performance

The company has a market cap of $2.06 billion, a price-to-earnings ratio of -22.27 and a beta of 2.83. The firm has a 50 day simple moving average of $22.88 and a 200-day simple moving average of $29.54.

Hycroft Mining (NASDAQ:HYMC) last issued its quarterly earnings data 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). Research analysts anticipate that Hycroft Mining Holding Corporation will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new stake in Hycroft Mining during the 2nd quarter worth approximately $25,000. Contravisory Investment Management Inc. purchased a new stake in Hycroft Mining during the 1st quarter worth about $34,000. Hollencrest Capital Management acquired a new position in Hycroft Mining during the 1st quarter worth approximately $35,000. FNY Investment Advisers LLC grew its stake 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 in the last quarter. Finally, Legacy Wealth Managment LLC ID acquired a new stake in Hycroft Mining in the first quarter valued at $44,000. Hedge funds and other institutional investors own 7.38% of the company’s stock.

About Hycroft Mining

Hycroft Mining Holding Corporation is a U.S.-based precious metals exploration and development company focused on the Hycroft Mine, a large open-pit gold and silver project in Humboldt County, Nevada, near Winnemucca. The company owns and operates the project through its subsidiary, Hycroft Mining Corporation.

The Hycroft Mine historically produced gold and silver using open-pit mining and heap-leach processing. Following a period of operations under previous ownership, mining activities were suspended, and Hycroft has since focused primarily on exploration, resource evaluation, metallurgical testing, and technical studies intended to assess potential future development and production options.

Hycroft’s activities are concentrated in the United States, particularly at its Nevada property.