Hycroft Mining (NASDAQ:HYMC) Shares Down 8.9% - Should You Sell?

Key Points

• Shares fell 8.9% intraday to about $50 on Wednesday with volume down ~39% (3.32M vs. a 5.48M average), extending a recent run well above its 50- and 200-day moving averages.
• Analysts hold a consensus "Sell" (Weiss Ratings reiterated a "sell (d-)" while Wall Street Zen moved to "hold"), despite the recent price action.
• Major insider Eric Sprott bought 2,340,824 shares at $10.30 (bringing his holdings to 29,466,352 shares) and insiders purchased 5,555,824 shares in the last 90 days; company fundamentals show a $4.29B market cap, negative P/E (-31.91) and very high liquidity (current ratio ~19.0) with a debt/equity of 2.83.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) shares fell 8.9% during mid-day trading on Wednesday . The company traded as low as $50.78 and last traded at $49.9860. 3,323,189 shares traded hands during trading, a decline of 39% from the average session volume of 5,482,608 shares. The stock had previously closed at $54.85.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HYMC shares. Weiss Ratings restated a "sell (d-)" rating on shares of Hycroft Mining in a report on Thursday, January 22nd. Wall Street Zen upgraded Hycroft Mining from a "sell" rating to a "hold" rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of "Sell".

Hycroft Mining Trading Down 5.8%

The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The stock has a market cap of $4.29 billion, a P/E ratio of -31.91 and a beta of 2.64. The company has a 50-day moving average price of $22.95 and a two-hundred day moving average price of $11.85.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.02.

Insider Activity

In other Hycroft Mining news, major shareholder Eric Sprott acquired 2,340,824 shares of the business's stock in a transaction dated Wednesday, December 3rd. The stock was acquired at an average cost of $10.30 per share, for a total transaction of $24,110,487.20. Following the completion of the transaction, the insider directly owned 29,466,352 shares of the company's stock, valued at $303,503,425.60. This represents a 8.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have acquired 5,555,824 shares of company stock valued at $78,815,837. Insiders own 1.31% of the company's stock.

Institutional Trading of Hycroft Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC increased its holdings in shares of Hycroft Mining by 1,666.7% in the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company's stock valued at $25,000 after acquiring an additional 1,000 shares during the last quarter. Bank of America Corp DE lifted its stake in Hycroft Mining by 166.6% in the third quarter. Bank of America Corp DE now owns 4,060 shares of the company's stock valued at $25,000 after buying an additional 2,537 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Hycroft Mining during the third quarter worth approximately $96,000. Virtu Financial LLC increased its holdings in shares of Hycroft Mining by 20.3% in the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company's stock valued at $99,000 after acquiring an additional 2,700 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Hycroft Mining in the 2nd quarter valued at $101,000. Hedge funds and other institutional investors 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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