Hycroft Mining (NASDAQ:HYMC) Stock Price Up 6.3% – Time to Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) rose 6.3% during mid-day trading on Wednesday . The company traded as high as $22.18 and last traded at $22.0320. Approximately 313,832 shares changed hands during trading, a decline of 91% from the average daily volume of 3,353,634 shares. The stock had previously closed at $20.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Tuesday, June 16th. B. Riley Financial started coverage on shares of Hycroft Mining in a report on Friday, July 10th. They set a “buy” rating and a $28.00 price target for the company. Zacks Research upgraded shares of Hycroft Mining to a “hold” rating in a research report on Monday, July 13th. Finally, Wall Street Zen raised shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Hycroft Mining currently has an average rating of “Hold” and a consensus target price of $28.00.

Hycroft Mining Trading Up 6.3%

The stock has a fifty day moving average of $26.90 and a two-hundred day moving average of $34.39. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -18.52 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMC) last posted its quarterly earnings data on Monday, April 27th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.45). Equities analysts expect that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current year.

Insiders Place Their Bets

In other Hycroft Mining news, CEO Diane R. Garrett sold 21,550 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $31.50, for a total value of $678,825.00. Following the completion of the sale, the chief executive officer owned 928,352 shares in the company, valued at approximately $29,243,088. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Rebecca Jennings sold 15,329 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $26.25, for a total transaction of $402,386.25. Following the completion of the sale, the senior vice president owned 202,498 shares of the company’s stock, valued at $5,315,572.50. The trade was a 7.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 99,873 shares of company stock valued at $2,884,778 over the last three months. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Hycroft Mining

Several hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC increased its holdings 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 purchasing an additional 1,000 shares in the last quarter. Bank of America Corp DE lifted its holdings in Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after buying an additional 2,537 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Hycroft Mining in the 1st quarter valued at $34,000. Hollencrest Capital Management bought a new position in Hycroft Mining in the 1st quarter valued at $35,000. Finally, Legacy Wealth Managment LLC ID acquired a new stake in shares of Hycroft Mining in the 1st quarter valued at $44,000. 7.38% of the stock is owned by institutional investors.

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.