Hycroft Mining (NASDAQ:HYMC) Shares Down 6.5% - Should You Sell?

Key Points

• Shares fell 6.5% to about $41.11 on Tuesday, with mid-day volume ~434,448 shares—roughly 90% below its average daily volume.
• Analyst sentiment is negative: Weiss Ratings reiterated a "sell (d-)" and MarketBeat shows a consensus rating of Sell.
• Major shareholder Eric Sprott bought 200,000 shares at $38.67 (part of 750,000 insider purchases over the last three months), indicating notable insider accumulation despite the sell ratings.

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) dropped 6.5% on Tuesday . The company traded as low as $41.22 and last traded at $41.1050. Approximately 434,448 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 4,328,659 shares. The stock had previously closed at $43.97.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

Hycroft Mining Stock Performance

The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -24.43 and a beta of 2.91. The business has a fifty day moving average of $39.22 and a two-hundred day moving average of $26.25.

Insider Buying and Selling

In related news, major shareholder Eric Sprott purchased 200,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average price of $38.67 per share, for a total transaction of $7,734,000.00. Following the purchase, the insider owned 37,303,704 shares in the company, valued at approximately $1,442,534,233.68. This represents a 0.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rebecca Jennings sold 9,071 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total transaction of $356,762.43. Following the completion of the transaction, the senior vice president owned 215,794 shares in the company, valued at approximately $8,487,178.02. This trade represents a 4.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have purchased a total of 750,000 shares of company stock worth $32,993,500 over the last three months. 0.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HYMC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Hycroft Mining by 11.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company's stock valued at $1,490,000 after buying an additional 47,385 shares during the last quarter. Jane Street Group LLC acquired a new position in Hycroft Mining in the 1st quarter valued at $124,000. Geode Capital Management LLC grew its holdings in Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company's stock valued at $713,000 after buying an additional 3,146 shares in the last quarter. XTX Topco Ltd acquired a new position in Hycroft Mining in the 2nd quarter valued at $101,000. Finally, Shay Capital LLC grew its holdings in Hycroft Mining by 100.2% in the 2nd quarter. Shay Capital LLC now owns 246,627 shares of the company's stock valued at $772,000 after buying an additional 123,453 shares in the last quarter. Institutional investors and hedge funds 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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