Hycroft Mining (NASDAQ:HYMC) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded Hycroft Mining (NASDAQ: HYMC) to a “hold” rating, adding to a mixed analyst picture that currently includes one buy, one hold, and one sell view. MarketBeat says the consensus rating remains “Hold” with an average target price of $28.00.
• Shares were trading at $21.86 on Monday, below both the 50-day moving average of $29.07 and the 200-day moving average of $34.55. The stock has been highly volatile, with a 52-week range of $3.22 to $58.73.
• Hycroft reported a quarterly loss of ($0.54) EPS, missing expectations of ($0.09), while insiders have also been selling shares recently. CFO Stanton K. Rideout and SVP Rebecca Jennings both sold stock, and insiders own just 0.77% of the company.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) was upgraded by stock analysts at Zacks Research to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. B. Riley Financial assumed coverage on Hycroft Mining in a research report on Friday, July 10th. They issued a "buy" rating and a $28.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. Finally, Wall Street Zen raised shares of Hycroft Mining from a "strong sell" rating to a "sell" rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Hycroft Mining has a consensus rating of "Hold" and an average target price of $28.00.

Hycroft Mining Price Performance

Shares of HYMC opened at $21.86 on Monday. The company's fifty day moving average price is $29.07 and its 200-day moving average price is $34.55. Hycroft Mining has a 1-year low of $3.22 and a 1-year high of $58.73. The firm has a market capitalization of $2.00 billion, a PE ratio of -18.37 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last issued its earnings results on Monday, April 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.45). As a group, research analysts anticipate that Hycroft Mining will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at Hycroft Mining

In other news, CFO Stanton K. Rideout sold 16,500 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $30.18, for a total transaction of $497,970.00. Following the completion of the sale, the chief financial officer owned 481,947 shares of the company's stock, valued at $14,545,160.46. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rebecca Jennings sold 15,329 shares of the company's stock in a transaction dated 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 approximately $5,315,572.50. This trade represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 99,873 shares of company stock worth $2,884,778. 0.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC boosted its holdings 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 purchasing an additional 1,000 shares during the last quarter. Bank of America Corp DE lifted its position 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 buying an additional 2,537 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Hycroft Mining during the first quarter worth approximately $34,000. Hollencrest Capital Management acquired a new position in Hycroft Mining during the first quarter worth $35,000. Finally, Legacy Wealth Managment LLC ID acquired a new position in Hycroft Mining during the first quarter worth $44,000. Hedge funds and other institutional investors 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.

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