Hycroft Mining (NASDAQ:HYMC) Stock Price Down 6.1% – Here’s Why

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price traded down 6.1% during trading on Thursday . The stock traded as low as $29.81 and last traded at $30.1780. 1,267,144 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 3,674,916 shares. The stock had previously closed at $32.15.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised 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 Sell rating, Based on data from MarketBeat, Hycroft Mining presently has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -22.21 and a beta of 2.62. The firm has a fifty day moving average of $36.42 and a 200 day moving average of $32.42.

Hycroft Mining (NASDAQ:HYMC) last posted its earnings results on Monday, April 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.45).

Insider Activity at Hycroft Mining

In other Hycroft Mining news, major shareholder Eric Sprott acquired 100,000 shares of the company’s stock in a transaction on Friday, April 24th. The shares were bought at an average cost of $37.84 per share, with a total value of $3,784,000.00. Following the completion of the acquisition, the insider owned 37,403,704 shares in the company, valued at approximately $1,415,356,159.36. This trade represents a 0.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rebecca Jennings sold 9,071 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total value of $356,762.43. Following the completion of the sale, the senior vice president directly owned 215,794 shares in the company, valued at approximately $8,487,178.02. The trade was a 4.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by company insiders.

Institutional Trading of Hycroft Mining

Institutional investors have recently bought and sold shares of the business. Contravisory Investment Management Inc. acquired a new stake in Hycroft Mining in the first quarter valued at approximately $34,000. Hollencrest Capital Management purchased a new position in shares of Hycroft Mining in the first quarter valued at approximately $35,000. FNY Investment Advisers LLC lifted its position in shares of Hycroft Mining by 1,666.7% in the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after acquiring an additional 1,000 shares in the last quarter. Legacy Wealth Managment LLC ID purchased a new position in shares of Hycroft Mining in the first quarter valued at approximately $44,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Hycroft Mining in the first quarter valued at approximately $49,000. 7.38% of the stock is owned by institutional investors and hedge funds.

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.