Hycroft Mining (NASDAQ:HYMC) Shares Down 5.1% - What's Next?

Key Points

• Hycroft Mining's stock fell by 5.1%, closing at $7.07, with trading volume increasing marginally compared to the average session.
• Weiss Ratings has maintained a "sell (d-)" rating on the stock, which is consistent with the overall average rating of "Sell" from analysts.
• Major shareholder Eric Sprott increased his stake by purchasing 7,690,000 shares at an average price of $6.50, while another insider sold a portion of their shares, reflecting mixed insider sentiment.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report)'s stock price fell 5.1% during trading on Friday . The stock traded as low as $7.13 and last traded at $7.07. 607,437 shares traded hands during trading, an increase of 0% from the average session volume of 604,501 shares. The stock had previously closed at $7.45.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Hycroft Mining in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hycroft Mining presently has an average rating of "Sell".

Hycroft Mining Price Performance

The company has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $4.29. The company has a market cap of $540.51 million, a PE ratio of -3.50 and a beta of 2.51.

Insider Activity

In related news, major shareholder Eric Sprott bought 7,690,000 shares of the firm's stock in a transaction dated Tuesday, October 14th. The stock was bought at an average price of $6.50 per share, with a total value of $49,985,000.00. Following the completion of the transaction, the insider directly owned 25,225,528 shares of the company's stock, valued at approximately $163,965,932. This represents a 43.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rebecca Jennings sold 30,084 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $6.57, for a total value of $197,651.88. Following the completion of the sale, the senior vice president directly owned 100,024 shares of the company's stock, valued at $657,157.68. The trade was a 23.12% decrease in their position. The disclosure for this sale can be found here. 1.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd purchased a new position in Hycroft Mining in the second quarter valued at about $101,000. Jane Street Group LLC purchased a new position in Hycroft Mining in the first quarter valued at about $124,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Hycroft Mining in the first quarter valued at about $136,000. Clear Harbor Asset Management LLC purchased a new position in Hycroft Mining in the second quarter valued at about $141,000. Finally, Timelo Investment Management Inc. purchased a new position in Hycroft Mining in the second quarter valued at about $470,000. Hedge funds and other institutional investors own 7.38% of the company's stock.

About Hycroft Mining

Hycroft Mining Holding Corporation, together with its subsidiaries, operates as a gold and silver development company in the United States. The company holds interests in the Hycroft mine that consists of 30 private parcels with patented claims comprising approximately 1,787 acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres located in the state of Nevada.

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