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

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down prior to trading on Thursday . The stock had previously closed at $39.31, but opened at $33.84. Hycroft Mining shares last traded at $33.99, with a volume of 1,516,853 shares trading hands.

Wall Street Analyst Weigh In

HYMC has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Hycroft Mining has a consensus rating of “Sell”.

Hycroft Mining Stock Performance

The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04. The company has a fifty day moving average of $26.77 and a two-hundred day moving average of $13.40. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -21.35 and a beta of 2.62.

Insider Transactions at Hycroft Mining

In related news, major shareholder Eric Sprott bought 200,000 shares of Hycroft Mining stock in a transaction dated Thursday, January 29th. The shares were bought at an average cost of $45.99 per share, with a total value of $9,198,000.00. Following the acquisition, the insider owned 36,753,704 shares in the company, valued at $1,690,302,846.96. This trade represents a 0.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP David Brian Thomas sold 15,000 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $21.21, for a total value of $318,150.00. Following the completion of the transaction, the senior vice president directly owned 81,070 shares of the company’s stock, valued at approximately $1,719,494.70. This trade represents a 15.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired a total of 5,755,824 shares of company stock valued at $88,013,837 in the last three months. Insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently made changes to their positions in HYMC. Vanguard Group Inc. boosted its position in shares of Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after acquiring an additional 1,702,288 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Hycroft Mining by 125.3% in the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after purchasing an additional 871,030 shares in the last quarter. UBS Group AG increased its stake in shares of Hycroft Mining by 5.4% in the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after purchasing an additional 51,126 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Hycroft Mining by 43.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 882,624 shares of the company’s stock worth $5,472,000 after buying an additional 268,633 shares in the last quarter. Finally, Sprott Inc. raised its holdings in shares of Hycroft Mining by 11.7% during the 3rd quarter. Sprott Inc. now owns 816,253 shares of the company’s stock worth $5,061,000 after buying an additional 85,490 shares in the last quarter. 7.38% of the stock is currently 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.