California State Teachers Retirement System Makes New $1.96 Million Investment in Hycroft Mining Holding Corporation $HYMC

Key Points

• California State Teachers Retirement System purchased 55,633 Hycroft Mining shares worth approximately $1.96 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 7.38% of HYMC.
• Hycroft reported a quarterly loss of $0.23 per share, missing analyst expectations of a $0.15 loss; analysts forecast a full-year loss of $0.90 per share.
• Insiders sold nearly 100,000 shares worth about $2.88 million over the past three months. Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $25.

California State Teachers Retirement System bought a new position in Hycroft Mining Holding Corporation (NASDAQ:HYMC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,633 shares of the company's stock, valued at approximately $1,958,000. California State Teachers Retirement System owned about 0.06% of Hycroft Mining at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HYMC. Vanguard Group Inc. increased its holdings 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 worth $67,402,000 after buying an additional 1,702,288 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Hycroft Mining during the 4th quarter valued at $39,815,000. 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. Schroder Investment Management Group bought a new stake in Hycroft Mining during the 4th quarter worth $36,366,000. Finally, UBS Group AG increased its holdings in Hycroft Mining by 5.4% in the 4th quarter. UBS Group AG now owns 996,148 shares of the company's stock worth $23,678,000 after purchasing an additional 51,126 shares in the last quarter. 7.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hycroft Mining

In related news, SVP Rebecca Jennings sold 15,329 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $26.25, for a total value of $402,386.25. Following the transaction, the senior vice president directly owned 202,498 shares of the company's stock, valued at approximately $5,315,572.50. The trade was a 7.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stanton K. Rideout sold 16,500 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $30.18, for a total transaction of $497,970.00. Following the transaction, the chief financial officer directly owned 481,947 shares of the company's stock, valued at $14,545,160.46. This represents a 3.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,873 shares of company stock valued at $2,884,778 over the last three months. Corporate insiders own 0.77% of the company's stock.

Hycroft Mining Stock Performance

Hycroft Mining stock opened at $27.53 on Wednesday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -27.81 and a beta of 2.78. Hycroft Mining Holding Corporation has a 52-week low of $3.43 and a 52-week high of $58.73. The firm has a 50 day moving average price of $23.25 and a two-hundred day moving average price of $33.40.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.08). As a group, equities research analysts predict that Hycroft Mining Holding Corporation will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on HYMC. Zacks Research upgraded Hycroft Mining to a "hold" rating in a research report on Monday, July 13th. Wall Street Zen upgraded Hycroft Mining from a "strong sell" rating to a "sell" rating in a report on Saturday, May 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Hycroft Mining in a research note on Tuesday, June 16th. Finally, B. Riley Financial initiated coverage on shares of Hycroft Mining in a report on Monday, August 3rd. They issued a "buy" rating and a $25.00 price objective for the company. One investment 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $25.00.

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.

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