Hycroft Mining (NASDAQ:HYMC) Trading Down 7.9% – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price was down 7.9% during trading on Thursday . The company traded as low as $33.01 and last traded at $33.10. Approximately 3,294,527 shares traded hands during trading, a decline of 39% from the average daily volume of 5,368,079 shares. The stock had previously closed at $35.93.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HYMC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hycroft Mining currently has an average rating of “Sell”.

Hycroft Mining Price Performance

The stock has a market cap of $2.75 billion, a P/E ratio of -20.43 and a beta of 2.62. The business has a 50-day simple moving average of $29.22 and a 200 day simple moving average of $14.52. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83.

Insider Transactions at Hycroft Mining

In other news, major shareholder Eric Sprott purchased 2,340,824 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were purchased at an average price of $10.30 per share, for a total transaction of $24,110,487.20. Following the transaction, the insider owned 29,466,352 shares of the company’s stock, valued at approximately $303,503,425.60. This trade represents a 8.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have purchased 4,755,824 shares of company stock worth $79,273,837. 1.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently bought and sold shares of HYMC. Federation des caisses Desjardins du Quebec boosted its position in Hycroft Mining by 7,462.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 37,810 shares of the company’s stock valued at $899,000 after acquiring an additional 37,310 shares during the last quarter. Hohimer Wealth Management LLC bought a new position in shares of Hycroft Mining in the 4th quarter worth about $1,988,000. Bank of Montreal Can lifted its stake in shares of Hycroft Mining by 136.5% in the 4th quarter. Bank of Montreal Can now owns 66,045 shares of the company’s stock valued at $1,570,000 after purchasing an additional 38,121 shares during the period. HM Payson & Co. bought a new stake in shares of Hycroft Mining during the 4th quarter valued at about $238,000. Finally, Alps Advisors Inc. acquired a new stake in Hycroft Mining during the fourth quarter worth approximately $783,000. Institutional investors and hedge funds own 7.38% of the company’s stock.

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.