Hycroft Mining (NASDAQ:HYMC) Shares Up 14.2% – Should You Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shot up 14.2% during trading on Monday. The stock traded as high as $21.57 and last traded at $21.4380. 2,047,343 shares were traded during trading, a decline of 29% from the average daily volume of 2,868,490 shares. The stock had previously closed at $18.77.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. B. Riley Financial assumed coverage on shares of Hycroft Mining in a research report on Monday, August 3rd. They issued a “buy” rating and a $25.00 price objective on the stock. Zacks Research raised shares of Hycroft Mining to a “hold” rating in a report on Monday, July 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Friday, September 11th. 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 has an average rating of “Hold” and an average price target of $25.00.

Hycroft Mining Trading Up 14.9%

The stock has a market cap of $2.01 billion, a P/E ratio of -21.81 and a beta of 2.89. The firm has a 50-day simple moving average of $19.29 and a two-hundred day simple moving average of $29.54.

Hycroft Mining (NASDAQ:HYMC) last released its quarterly earnings results on Tuesday, October 27th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.11). Sell-side analysts predict that Hycroft Mining Holding Corporation will post -0.90 earnings per share for the current year.

Insider Transactions at Hycroft Mining

In related news, Director Blake Rhodes purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The stock was bought at an average price of $16.69 per share, with a total value of $50,070.00. Following the completion of the purchase, the director owned 7,068 shares in the company, valued at approximately $117,964.92. This represents a 73.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Several institutional investors have recently made changes to their positions in HYMC. California State Teachers Retirement System bought a new stake in Hycroft Mining in the 1st quarter valued at about $1,958,000. 180 Wealth Advisors LLC boosted its holdings in Hycroft Mining by 186.6% in the second quarter. 180 Wealth Advisors LLC now owns 94,760 shares of the company’s stock worth $2,217,000 after acquiring an additional 61,699 shares in the last quarter. Ninepoint Partners LP bought a new stake in shares of Hycroft Mining during the second quarter valued at approximately $14,705,000. Swiss National Bank bought a new stake in shares of Hycroft Mining during the first quarter valued at approximately $3,362,000. Finally, Amundi bought a new stake in shares of Hycroft Mining during the first quarter valued at approximately $14,471,000. Institutional investors and hedge funds own 7.38% of the company’s stock.

About Hycroft Mining

Hycroft Mining Holding Corporation is a U.S.-based precious metals company focused on exploring and developing the Hycroft Mine, a large open-pit gold and silver project near Winnemucca in northern Nevada. The company’s activities include mineral exploration, mine planning and technical studies aimed at evaluating the property’s deposits.

The Hycroft property contains both oxide and sulfide mineralization. Hycroft has focused on assessing the sulfide resources and potential processing approaches, while continuing exploration across the mine site.

The company’s operations and development activities are centered in Nevada.