Hycroft Mining (NASDAQ:HYMC) Trading Down 2.6% – Time to Sell?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) were down 2.6% on Friday . The stock traded as low as $41.06 and last traded at $41.07. Approximately 7,020,835 shares changed hands during trading, an increase of 32% from the average daily volume of 5,325,561 shares. The stock had previously closed at $42.15.

Wall Street Analyst Weigh In

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

Hycroft Mining Stock Down 2.6%

The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -25.35 and a beta of 2.62. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04. The business has a 50-day simple moving average of $32.23 and a two-hundred day simple moving average of $15.83.

Insiders Place Their Bets

In other news, major shareholder Eric Sprott acquired 2,340,824 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were bought at an average cost of $10.30 per share, with a total value of $24,110,487.20. Following the purchase, the insider owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. This represents a 8.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have acquired 4,755,824 shares of company stock valued at $79,273,837. Company insiders own 1.31% of the company’s stock.

Institutional Trading of Hycroft Mining

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after purchasing an additional 1,702,288 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Hycroft Mining in the 4th quarter valued at approximately $39,815,000. Schroder Investment Management Group acquired a new stake in Hycroft Mining during the 4th quarter valued at $36,366,000. Tidal Investments LLC increased its position in Hycroft Mining by 125.3% during the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after buying an additional 871,030 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Hycroft Mining by 711.9% in the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock worth $5,859,000 after acquiring an additional 828,625 shares during the last quarter. Hedge funds and other institutional investors 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.