Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down prior to trading on Thursday . The stock had previously closed at $34.47, but opened at $32.44. Hycroft Mining shares last traded at $33.93, with a volume of 506,019 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hycroft Mining currently has an average rating of “Sell”.

Hycroft Mining Stock Down 6.4%

The company’s 50-day moving average is $40.68 and its two-hundred day moving average is $22.18. The company has a market capitalization of $2.94 billion, a P/E ratio of -19.91 and a beta of 2.58.

Insider Activity

In other Hycroft Mining news, major shareholder Eric Sprott purchased 400,000 shares of Hycroft Mining stock in a transaction on Monday, December 29th. The shares were acquired at an average cost of $22.70 per share, for a total transaction of $9,080,000.00. Following the completion of the transaction, the insider directly owned 31,456,352 shares of the company’s stock, valued at approximately $714,059,190.40. The trade was a 1.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP David Brian Thomas sold 15,000 shares of Hycroft Mining stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $21.21, for a total transaction of $318,150.00. Following the transaction, the senior vice president directly owned 81,070 shares in the company, valued at $1,719,494.70. This trade represents a 15.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have bought a total of 1,475,000 shares of company stock worth $49,251,750 over the last quarter. Corporate insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Several institutional investors and hedge funds have recently made changes to their positions in HYMC. Vanguard Group Inc. grew its stake in shares of Hycroft Mining by 150.2% during the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after buying an additional 1,702,288 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Hycroft Mining in the 4th quarter valued at about $39,815,000. Schroder Investment Management Group purchased a new stake in Hycroft Mining during the 4th quarter valued at about $36,366,000. Tidal Investments LLC grew its position in Hycroft Mining by 125.3% during the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after acquiring an additional 871,030 shares during the last quarter. Finally, UBS Group AG increased its stake in Hycroft Mining by 711.9% in the 3rd quarter. UBS Group AG now owns 945,022 shares of the company’s stock worth $5,859,000 after purchasing an additional 828,625 shares during the period. Institutional investors own 7.38% of the company’s stock.

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.