Insider Buying: Hycroft Mining (NASDAQ:HYMC) Director Acquires $50,070.00 in Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) Director Blake Rhodes bought 3,000 shares of the business’s stock in a transaction on Wednesday, October 28th. The stock was purchased at an average cost of $16.69 per share, for a total transaction of $50,070.00. Following the transaction, the director owned 7,068 shares of the company’s stock, valued at $117,964.92. This trade represents a 73.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hycroft Mining Trading Down 4.9%

HYMC opened at $16.42 on Friday. The stock’s 50-day moving average price is $20.18 and its 200 day moving average price is $30.01. Hycroft Mining Holding Corporation has a 12-month low of $7.07 and a 12-month high of $58.73. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -16.59 and a beta of 2.78.

Hycroft Mining (NASDAQ:HYMC) last issued its quarterly earnings results on Tuesday, October 27th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.11). On average, research analysts forecast that Hycroft Mining Holding Corporation will post -0.90 earnings per share for the current year.

Hedge Funds Weigh In On Hycroft Mining

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Hycroft Mining in the third quarter valued at about $257,000. Sterling Capital Management LLC raised its holdings in Hycroft Mining by 838.0% during the third quarter. Sterling Capital Management LLC now owns 1,801 shares of the company’s stock worth $34,000 after purchasing an additional 1,609 shares during the last quarter. GK Wealth Management LLC purchased a new stake in Hycroft Mining during the third quarter worth $36,000. GAMMA Investing LLC raised its stake in shares of Hycroft Mining by 182.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,987 shares of the company’s stock worth $38,000 after buying an additional 1,283 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Hycroft Mining by 110.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,950 shares of the company’s stock worth $37,000 after buying an additional 1,024 shares in the last quarter. 7.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on HYMC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a report on Friday, September 11th. B. Riley Financial began coverage on Hycroft Mining in a research report on Monday, August 3rd. They set a “buy” rating and a $25.00 target price on the stock. Finally, Zacks Research raised shares of Hycroft Mining to a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.00.

About Hycroft Mining

Hycroft Mining Holding Corporation is a precious metals exploration and development company focused on the Hycroft Mine, an open-pit gold and silver property in Humboldt County, Nevada, near Winnemucca. The company owns and operates the Hycroft project, which includes extensive mineral rights and processing infrastructure.

The Hycroft Mine has a history of commercial gold and silver production using conventional open-pit mining and heap-leach processing methods. Hycroft Mining is currently focused primarily on exploration, technical studies and evaluating potential redevelopment and processing strategies for the property rather than operating as a conventional producing mine.

The company was formed through the restructuring of Allied Nevada Gold and has continued advancing the Hycroft project as a large-scale precious metals asset in the United States.