Hycroft Mining (NASDAQ:HYMC) Director Buys 3,000 Shares of Stock

Key Points

• Director Blake Rhodes purchased 3,000 HYMC shares at an average price of $16.69, investing $50,070 and increasing his ownership by 73.75% to 7,068 shares.
• Hycroft Mining shares traded at $17.44, with the stock well below its 50-day and 200-day moving averages and showing significant volatility over the past year.
• The company reported a quarterly loss of $0.28 per share, missing analyst expectations of a $0.17 loss. Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $25 price target.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) Director Blake Rhodes bought 3,000 shares of the firm's stock in a transaction dated Wednesday, October 28th. The shares were acquired at an average cost of $16.69 per share, with a total value of $50,070.00. Following the completion of the transaction, the director owned 7,068 shares of the company's stock, valued at $117,964.92. This represents a 73.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Hycroft Mining Stock Performance

HYMC traded up $0.54 during midday trading on Wednesday, reaching $17.44. 2,302,528 shares of the company were exchanged, compared to its average volume of 2,890,988. The company's fifty day moving average price is $20.72 and its 200 day moving average price is $30.19. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -17.62 and a beta of 2.78. Hycroft Mining Holding Corporation has a one year low of $7.07 and a one year high of $58.73.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.11). As a group, sell-side analysts anticipate that Hycroft Mining Holding Corporation will post -0.90 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HYMC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Hycroft Mining in a research report on Friday, September 11th. Zacks Research raised shares of Hycroft Mining to a "hold" rating in a research report on Monday, July 13th. Finally, B. Riley Financial initiated coverage on Hycroft Mining in a research report on Monday, August 3rd. They set a "buy" rating and a $25.00 price target for the company. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Hycroft Mining has an average rating of "Hold" and a consensus price target of $25.00.

Institutional Trading of Hycroft Mining

A number of large investors have recently added to or reduced their stakes in HYMC. Ninepoint Partners LP bought a new stake in Hycroft Mining in the second quarter worth about $14,705,000. Amundi bought a new position in shares of Hycroft Mining during the 1st quarter valued at approximately $14,471,000. Renaissance Technologies LLC grew its position in shares of Hycroft Mining by 5.6% during the 1st quarter. Renaissance Technologies LLC now owns 303,264 shares of the company's stock valued at $10,675,000 after acquiring an additional 16,200 shares during the period. Cetera Investment Advisers increased its stake in shares of Hycroft Mining by 1.9% during the 1st quarter. Cetera Investment Advisers now owns 220,201 shares of the company's stock worth $7,751,000 after purchasing an additional 4,121 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Hycroft Mining by 6,228.3% during the 1st quarter. Bank of America Corp DE now owns 100,999 shares of the company's stock worth $3,555,000 after purchasing an additional 99,403 shares during the last quarter. Hedge funds and other institutional investors own 7.38% of the company's stock.

About Hycroft Mining

Hycroft Mining Holding Corporation is a precious metals exploration and development company focused on the Hycroft Mine, an open-pit gold and silver property in Humboldt County, Nevada, near Winnemucca. The company owns and operates the Hycroft project, which includes extensive mineral rights and processing infrastructure.

The Hycroft Mine has a history of commercial gold and silver production using conventional open-pit mining and heap-leach processing methods. Hycroft Mining is currently focused primarily on exploration, technical studies and evaluating potential redevelopment and processing strategies for the property rather than operating as a conventional producing mine.

The company was formed through the restructuring of Allied Nevada Gold and has continued advancing the Hycroft project as a large-scale precious metals asset in the United States.

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