Hycroft Mining (NASDAQ:HYMC) Shares Gap Down Following Insider Selling

Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $40.28, but opened at $37.66. Hycroft Mining shares last traded at $37.3860, with a volume of 787,397 shares trading hands.

Specifically, SVP Rebecca Jennings sold 9,071 shares of the business’s stock in a transaction dated 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 owned 215,794 shares of the company’s stock, valued at $8,487,178.02. The trade was a 4.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat.com, the company has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The company’s 50-day moving average is $40.40 and its two-hundred day moving average is $21.12. The firm has a market cap of $3.37 billion, a P/E ratio of -22.95 and a beta of 2.58.

Hedge Funds Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently made changes to their positions in HYMC. Centiva Capital LP bought a new stake in shares of Hycroft Mining during the 3rd quarter worth approximately $284,000. Sprott Inc. increased its stake in Hycroft Mining by 11.7% in the third quarter. Sprott Inc. now owns 816,253 shares of the company’s stock valued at $5,061,000 after acquiring an additional 85,490 shares during the last quarter. LM Asset IM Inc. bought a new position in Hycroft Mining in the second quarter valued at approximately $1,189,000. Quantbot Technologies LP acquired a new position in Hycroft Mining during the third quarter valued at approximately $281,000. Finally, Global Retirement Partners LLC raised its position in Hycroft Mining by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock valued at $1,000,000 after purchasing an additional 475 shares in the last quarter. 7.38% of the stock is currently owned by institutional investors and hedge funds.

Hycroft Mining Company Profile

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.