Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $20.05, but opened at $21.36. Hycroft Mining shares last traded at $21.5460, with a volume of 446,860 shares changing hands.

Analyst Ratings Changes

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

Hycroft Mining Stock Up 6.3%

The stock has a 50-day simple moving average of $22.88 and a 200 day simple moving average of $30.19. The company has a market cap of $1.99 billion, a PE ratio of -21.54 and a beta of 2.83.

Hycroft Mining (NASDAQ:HYMC) last released its quarterly 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). As a group, research analysts anticipate that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Engineers Gate Manager LP acquired a new position in shares of Hycroft Mining in the second quarter valued at approximately $248,000. Integrated Wealth Concepts LLC acquired a new stake in Hycroft Mining during the 2nd quarter worth approximately $25,000. Arizona State Retirement System lifted its holdings in Hycroft Mining by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 14,446 shares of the company’s stock worth $338,000 after buying an additional 1,198 shares in the last quarter. Continuum Advisory LLC purchased a new position in Hycroft Mining in the 2nd quarter valued at approximately $58,000. Finally, Headlands Technologies LLC boosted its position in Hycroft Mining by 109.5% in the 2nd quarter. Headlands Technologies LLC now owns 37,098 shares of the company’s stock valued at $868,000 after buying an additional 19,392 shares during the period. Hedge funds and other institutional investors own 7.38% of the company’s stock.

Hycroft Mining Company Profile

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.