Hycroft Mining (NASDAQ:HYMC) Trading 11.1% Higher - What's Next?

Key Points

• Shares of Hycroft Mining jumped 11.1% intraday to about $39.28, but on sharply lower-than-normal volume (~418k shares vs. a ~4.0M average session), showing a headline move on thin trading.
• Analyst sentiment is weak with a consensus "Sell" rating, and the company recently missed earnings expectations—reporting a loss of $0.54 per share versus estimates of a $0.09 loss.
• Notable insider activity includes major shareholder Eric Sprott buying 200,000 shares (~$38.67 avg), and insiders net purchasing 550,000 shares over the past 90 days despite an SVP selling a smaller stake.

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) traded up 11.1% during mid-day trading on Wednesday . The company traded as high as $38.40 and last traded at $39.2830. 418,345 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 4,018,131 shares. The stock had previously closed at $35.37.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. Wall Street Zen lowered Hycroft Mining from a "hold" rating to a "sell" rating in a research note on Saturday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of "Sell".

Hycroft Mining Trading Up 12.4%

The firm has a market cap of $3.63 billion, a PE ratio of -33.41 and a beta of 2.72. The stock has a 50 day simple moving average of $39.24 and a 200-day simple moving average of $28.15.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.45).

Insider Transactions at Hycroft Mining

In other news, SVP Rebecca Jennings sold 9,071 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was 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 $8,487,178.02. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Eric Sprott acquired 200,000 shares of the business's stock in a transaction dated Thursday, April 9th. The shares were purchased at an average price of $38.67 per share, with a total value of $7,734,000.00. Following the transaction, the insider owned 37,303,704 shares of the company's stock, valued at approximately $1,442,534,233.68. This represents a 0.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 550,000 shares of company stock valued at $22,583,500. Company insiders own 0.77% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of Hycroft Mining by 11.7% during the first quarter. Bank of New York Mellon Corp now owns 15,555 shares of the company's stock valued at $548,000 after purchasing an additional 1,629 shares in the last quarter. Sigma Planning Corp bought a new position in shares of Hycroft Mining in the 1st quarter valued at about $212,000. Bleakley Financial Group LLC bought a new position in shares of Hycroft Mining in the 1st quarter valued at about $1,117,000. 180 Wealth Advisors LLC bought a new position in shares of Hycroft Mining in the 1st quarter valued at about $1,164,000. Finally, Kestra Advisory Services LLC lifted its holdings in shares of Hycroft Mining by 70.5% in the 1st quarter. Kestra Advisory Services LLC now owns 5,815 shares of the company's stock valued at $205,000 after acquiring an additional 2,405 shares during the last quarter. 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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