Hycroft Mining (NASDAQ:HYMC) Now Covered by Analysts at B. Riley Financial

Key Points

• B. Riley Financial initiated coverage of Hycroft Mining with a “buy” rating and a $25 price target, implying approximately 29.5% upside from the stock’s $19.31 trading price.
• Analyst sentiment remains mixed, with ratings ranging from sell to buy; MarketBeat reports an overall average rating of “Hold” and an average target price of $25.
• Hycroft reported a quarterly loss of $0.23 per share, missing the $0.15 loss consensus estimate, while insiders sold nearly 100,000 shares worth about $2.9 million over the past 90 days.

Equities researchers at B. Riley Financial initiated coverage on shares of Hycroft Mining (NASDAQ:HYMC - Get Free Report) in a research note issued on Monday. The brokerage set a "buy" rating and a $25.00 price target on the stock. B. Riley Financial's price objective suggests a potential upside of 29.47% from the company's current price.

A number of other research analysts have also issued reports 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 report on Tuesday, June 16th. Finally, Zacks Research upgraded shares of Hycroft Mining to a "hold" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hycroft Mining presently has an average rating of "Hold" and an average target price of $25.00.

Hycroft Mining Stock Down 1.1%

Shares of NASDAQ:HYMC traded down $0.22 during trading on Monday, hitting $19.31. 157,571 shares of the company were exchanged, compared to its average volume of 3,249,502. Hycroft Mining has a 1-year low of $3.34 and a 1-year high of $58.73. The company has a market capitalization of $1.80 billion, a P/E ratio of -16.39 and a beta of 2.71. The business's 50 day moving average is $24.40 and its 200-day moving average is $33.97.

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

Insider Buying and Selling

In related news, CFO Stanton K. Rideout sold 16,500 shares of the company's stock in a transaction that occurred 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 directly owned 481,947 shares in the company, valued at $14,545,160.46. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Diane R. Garrett sold 21,550 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $31.50, for a total transaction of $678,825.00. Following the sale, the chief executive officer directly owned 928,352 shares of the company's stock, valued at $29,243,088. This represents a 2.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 99,873 shares of company stock valued at $2,884,778 in the last ninety days. Insiders own 0.77% of the company's stock.

Hedge Funds Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently bought and sold shares of HYMC. Contravisory Investment Management Inc. bought a new position in shares of Hycroft Mining in the 1st quarter worth about $34,000. Hollencrest Capital Management bought a new position in shares of Hycroft Mining during the 1st quarter worth approximately $35,000. FNY Investment Advisers LLC grew its position in shares of Hycroft Mining by 1,666.7% during the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company's stock worth $25,000 after buying an additional 1,000 shares during the period. Legacy Wealth Managment LLC ID acquired a new stake in shares of Hycroft Mining during the 1st quarter worth approximately $44,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Hycroft Mining during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 7.38% of the company's stock.

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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