Hycroft Mining (NASDAQ:HYMC) Announces Earnings Results, Misses Estimates By $0.08 EPS

Hycroft Mining (NASDAQ:HYMC) issued its quarterly earnings data on Monday. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.08), FiscalAI reports.

Hycroft Mining Trading Up 1.0%

Shares of Hycroft Mining stock opened at $20.43 on Tuesday. The company has a market cap of $1.87 billion, a PE ratio of -17.17 and a beta of 2.71. The company has a 50 day moving average of $25.48 and a 200-day moving average of $34.23. Hycroft Mining has a 1-year low of $3.22 and a 1-year high of $58.73.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HYMC. Zacks Research upgraded shares of Hycroft Mining to a “hold” rating in a research report on Monday, July 13th. B. Riley Financial assumed coverage on shares of Hycroft Mining in a research report on Friday, July 10th. They issued a “buy” rating and a $28.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. Finally, Wall Street Zen upgraded Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.00.

Insider Activity

In other Hycroft Mining news, CFO Stanton K. Rideout sold 16,500 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.18, for a total value of $497,970.00. Following the sale, the chief financial officer owned 481,947 shares of the company’s stock, valued at approximately $14,545,160.46. This trade represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rebecca Jennings sold 15,329 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $26.25, for a total value of $402,386.25. Following the completion of the sale, the senior vice president directly owned 202,498 shares in the company, valued at approximately $5,315,572.50. This represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 99,873 shares of company stock valued at $2,884,778. 0.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Hycroft Mining

A number of institutional investors have recently modified their holdings of the business. Garton & Associates Financial Advisors LLC acquired a new stake in Hycroft Mining in the fourth quarter valued at about $52,000. Wells Fargo & Company MN bought a new position in Hycroft Mining in the fourth quarter valued at about $71,000. Kestra Advisory Services LLC acquired a new position in Hycroft Mining during the fourth quarter worth about $81,000. Bank of America Corp DE raised its stake in Hycroft Mining by 166.6% during the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after acquiring an additional 2,537 shares in the last quarter. Finally, LPL Financial LLC bought a new position in shares of Hycroft Mining in the fourth quarter worth about $210,000. Institutional investors and hedge funds 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.