Hycroft Mining (NASDAQ:HYMC) Trading Up 11.2% - Still a Buy?

Key Points

• Shares rose 11.2% mid-day to $45.27 (high $45.39) on Friday, but volume was muted at ~966,279 shares, down about 78% from the average daily volume.
• Analyst sentiment is negative with a MarketBeat consensus "Sell" and Weiss Ratings reaffirming a "sell (d-)"; the company has a $4.02 billion market cap, a negative P/E (-27.27) and a high beta (2.91).
• Insider and institutional activity is mixed: SVP Rebecca Jennings sold shares while Eric Sprott bought 200,000 shares, and firms like Vanguard materially increased their stakes; insiders acquired 750,000 shares over the last 90 days.

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) were up 11.2% during mid-day trading on Friday . The stock traded as high as $45.39 and last traded at $45.2670. Approximately 966,279 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 4,388,635 shares. The stock had previously closed at $40.72.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of "Sell".

Hycroft Mining Price Performance

The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -27.27 and a beta of 2.91. The firm's fifty day moving average is $38.92 and its 200-day moving average is $25.45.

Insider Buying and Selling at Hycroft Mining

In other Hycroft Mining news, SVP Rebecca Jennings sold 9,071 shares of Hycroft Mining stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total value of $356,762.43. Following the completion of the sale, the senior vice president directly owned 215,794 shares of the company's stock, valued at approximately $8,487,178.02. The trade was a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Eric Sprott purchased 200,000 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was bought at an average cost of $38.67 per share, with a total value of $7,734,000.00. Following the completion of the purchase, 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 position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 750,000 shares of company stock valued at $32,993,500. Insiders own 0.77% of the company's stock.

Institutional Investors Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently bought and sold shares of HYMC. Vanguard Group Inc. increased its stake in Hycroft Mining by 150.2% in the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company's stock valued at $67,402,000 after purchasing an additional 1,702,288 shares in the last quarter. Franklin Resources Inc. bought a new stake in Hycroft Mining in the fourth quarter valued at $39,815,000. Schroder Investment Management Group bought a new stake in Hycroft Mining in the fourth quarter valued at $36,366,000. Tidal Investments LLC increased its stake in Hycroft Mining by 125.3% in the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company's stock valued at $9,711,000 after purchasing an additional 871,030 shares in the last quarter. Finally, UBS Group AG increased its stake in Hycroft Mining by 711.9% in the third quarter. UBS Group AG now owns 945,022 shares of the company's stock valued at $5,859,000 after purchasing an additional 828,625 shares in the last quarter. 7.38% of the stock is owned by institutional investors.

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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