Hycroft Mining (NASDAQ:HYMC) Coverage Initiated by Analysts at B. Riley Financial

Key Points

• B. Riley Financial initiated coverage on Hycroft Mining with a buy rating and a $28 price target, implying about 28.44% upside from the stock’s current price.
• The stock has seen mixed analyst sentiment overall, with other firms issuing sell-oriented ratings; MarketBeat’s data shows a consensus Hold and an average $28.00 price target.
• Hycroft Mining recently missed earnings estimates, reporting ($0.54) EPS versus expectations of ($0.09), while insiders have also been selling shares in recent months.

Research analysts at B. Riley Financial initiated coverage on shares of Hycroft Mining (NASDAQ:HYMC - Get Free Report) in a research note issued on Friday. The firm set a "buy" rating and a $28.00 price target on the stock. B. Riley Financial's target price suggests a potential upside of 28.44% from the stock's current price.

Several other research analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Hycroft Mining from a "strong sell" rating to a "sell" rating in a report on Saturday, May 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $28.00.

Hycroft Mining Stock Performance

Shares of Hycroft Mining stock opened at $21.80 on Friday. The firm has a market cap of $1.99 billion, a PE ratio of -18.32 and a beta of 2.71. The business's 50 day simple moving average is $29.91 and its 200 day simple moving average is $34.64. Hycroft Mining has a 52-week low of $3.22 and a 52-week high of $58.73.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.45).

Insider Activity at Hycroft Mining

In other Hycroft Mining news, SVP Rebecca Jennings sold 15,329 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.25, for a total transaction of $402,386.25. Following the transaction, the senior vice president owned 202,498 shares of the company's stock, valued at $5,315,572.50. The trade was a 7.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Diane R. Garrett sold 21,550 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $31.50, for a total value of $678,825.00. Following the completion of the sale, the chief executive officer owned 928,352 shares in the company, valued at $29,243,088. This represents a 2.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 99,873 shares of company stock worth $2,884,778 over the last ninety days. Company insiders own 0.77% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Hycroft Mining by 150.2% in the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company's stock valued at $67,402,000 after acquiring an additional 1,702,288 shares during the period. Franklin Resources Inc. bought a new position in Hycroft Mining during the fourth quarter worth $39,815,000. Schroder Investment Management Group bought a new position in Hycroft Mining during the fourth quarter worth $36,366,000. Tidal Investments LLC increased its holdings in shares of Hycroft Mining by 125.3% in the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company's stock valued at $9,711,000 after purchasing an additional 871,030 shares during the last quarter. Finally, UBS Group AG increased 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 valued at $5,859,000 after purchasing an additional 828,625 shares during the last quarter. 7.38% of the stock is currently owned by institutional investors.

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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