Hycroft Mining (NASDAQ:HYMC) Shares Down 8.9% – Time to Sell?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price traded down 8.9% on Wednesday . The stock traded as low as $50.78 and last traded at $49.9860. 3,323,189 shares traded hands during trading, a decline of 39% from the average session volume of 5,482,608 shares. The stock had previously closed at $54.85.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HYMC. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Hycroft Mining Trading Down 18.3%

The company has a market cap of $3.10 billion, a P/E ratio of -23.06 and a beta of 2.64. The business has a fifty day simple moving average of $25.04 and a 200 day simple moving average of $12.60. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04.

Hycroft Mining (NASDAQ:HYMC) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02.

Insider Transactions at Hycroft Mining

In related news, major shareholder Eric Sprott bought 2,340,824 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was bought at an average cost of $10.30 per share, for a total transaction of $24,110,487.20. Following the completion of the purchase, the insider directly owned 29,466,352 shares in the company, valued at approximately $303,503,425.60. The trade was a 8.63% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 5,755,824 shares of company stock valued at $88,013,837 over the last quarter. Company insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

A number of hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC lifted its position in Hycroft Mining by 1,666.7% in the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after purchasing an additional 1,000 shares during the last quarter. Bank of America Corp DE grew its holdings 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. Virtu Financial LLC raised its holdings in shares of Hycroft Mining by 20.3% in the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after purchasing an additional 2,700 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after purchasing an additional 3,146 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc. acquired a new stake in Hycroft Mining during the fourth quarter valued at approximately $156,000. 7.38% of the stock is currently owned by 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.