Swiss National Bank Buys New Position in Hycroft Mining Holding Corporation $HYMC

Key Points

• Swiss National Bank bought 95,500 Hycroft Mining shares worth approximately $3.36 million in the first quarter, giving it a 0.10% stake. Institutional investors collectively own 7.38% of the company.
• Hycroft shares fell 4.8% to $19.16, well below their 52-week high of $58.73. The company also reported a quarterly loss of $0.23 per share, missing analyst expectations of a $0.15 loss.
• Analyst views remain mixed, with ratings ranging from sell to buy and an overall “Hold” consensus; the average price target is $28.00. Meanwhile, company insiders sold nearly 100,000 shares worth about $2.88 million over the past three months.

Swiss National Bank purchased a new position in shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,500 shares of the company's stock, valued at approximately $3,362,000. Swiss National Bank owned 0.10% of Hycroft Mining at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. FNY Investment Advisers LLC grew its holdings in shares of Hycroft Mining by 1,666.7% in the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company's stock valued at $25,000 after purchasing an additional 1,000 shares in the last quarter. Bank of America Corp DE lifted its holdings in Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company's stock worth $25,000 after buying an additional 2,537 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Hycroft Mining in the 1st quarter valued at approximately $34,000. Harbor Investment Advisory LLC purchased a new position in Hycroft Mining in the 1st quarter valued at approximately $49,000. Finally, Garton & Associates Financial Advisors LLC purchased a new position in Hycroft Mining in the 4th quarter valued at approximately $52,000. Institutional investors and hedge funds own 7.38% of the company's stock.

Hycroft Mining Trading Down 4.8%

Shares of NASDAQ:HYMC opened at $19.16 on Thursday. Hycroft Mining Holding Corporation has a 52 week low of $3.22 and a 52 week high of $58.73. The company's 50 day moving average is $24.92 and its two-hundred day moving average is $34.12. The company has a market cap of $1.75 billion, a PE ratio of -16.10 and a beta of 2.71.

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

Insiders Place Their Bets

In other news, SVP David Brian Thomas sold 25,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $26.32, for a total value of $658,000.00. Following the transaction, the senior vice president owned 168,374 shares in the company, valued at approximately $4,431,603.68. This represents a 12.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stanton K. Rideout sold 16,500 shares of the firm's stock in a transaction dated 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 directly owned 481,947 shares in the company, valued at $14,545,160.46. This trade represents a 3.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 99,873 shares of company stock valued at $2,884,778 in the last three months. Corporate insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HYMC. Wall Street Zen raised Hycroft Mining from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Hycroft Mining in a report on Tuesday, June 16th. B. Riley Financial initiated coverage on Hycroft Mining in a research note on Friday, July 10th. They set a "buy" rating and a $28.00 target price for the company. Finally, Zacks Research upgraded Hycroft Mining to a "hold" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.00.

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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