Hycroft Mining (NASDAQ:HYMC) Stock Price Down 6.3% After Insider Selling

Hycroft Mining Holding Corporation (NASDAQ:HYMC) fell 6.3% on Tuesday after an insider sold shares in the company. The stock traded as low as $19.54 and last traded at $19.9280. Approximately 333,655 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,861,746 shares. The stock had previously closed at $21.27.

Specifically, SVP Rebecca Jennings sold 9,605 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $21.46, for a total transaction of $206,123.30. Following the sale, the senior vice president owned 196,924 shares in the company, valued at approximately $4,225,989.04. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

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

Hycroft Mining Price Performance

The business has a fifty day moving average price of $19.24 and a two-hundred day moving average price of $29.45. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -18.84 and a beta of 2.89.

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

Institutional Trading of Hycroft Mining

Institutional investors and hedge funds have recently bought and sold shares of the business. 180 Wealth Advisors LLC increased its stake in shares of Hycroft Mining by 78.8% in the third quarter. 180 Wealth Advisors LLC now owns 169,418 shares of the company’s stock worth $3,226,000 after acquiring an additional 74,658 shares during the period. StoneX Group Inc. acquired a new position in Hycroft Mining during the third quarter valued at $216,000. Alps Advisors Inc. boosted its holdings in Hycroft Mining by 693.9% in the third quarter. Alps Advisors Inc. now owns 707,574 shares of the company’s stock valued at $13,472,000 after purchasing an additional 618,447 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Hycroft Mining in the third quarter valued at $257,000. Finally, Sterling Capital Management LLC grew its position in Hycroft Mining by 838.0% during the 3rd 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 period. 7.38% of the stock is currently owned by institutional investors and hedge funds.

About Hycroft Mining

Hycroft Mining Holding Corporation is a U.S.-based precious metals company focused on exploring and developing the Hycroft Mine, a large open-pit gold and silver project near Winnemucca in northern Nevada. The company’s activities include mineral exploration, mine planning and technical studies aimed at evaluating the property’s deposits. The Hycroft property contains both oxide and sulfide mineralization. Hycroft has focused on assessing the sulfide resources and potential processing approaches, while continuing exploration across the mine site.