Hycroft Mining (NASDAQ:HYMC) Shares Down 6.8% - Should You Sell?

Key Points

• Hycroft Mining shares fell 6.8% to about $20.03, with trading volume down 85% from the average session. The stock remains below its 50-day and 200-day moving averages of $23.00 and $28.97, respectively.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $25.00 target price. Ratings include one Buy, one Hold, and one Sell.
• The company reported a quarterly loss of $0.23 per share, missing the $0.15 consensus loss estimate, while analysts expect a full-year loss of approximately $0.90 per share. Hycroft is focused on exploration and development of its Nevada gold and silver mine rather than current production.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report)'s share price traded down 6.8% during trading on Monday. The company traded as low as $20.03 and last traded at $20.0280. Approximately 463,086 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,989,986 shares. The stock had previously closed at $21.48.

Wall Street Analyst Weigh In

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

Hycroft Mining Stock Performance

The company has a fifty day simple moving average of $23.00 and a two-hundred day simple moving average of $28.97. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -20.15 and a beta of 2.83.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.08). As a group, analysts expect that Hycroft Mining Holding Corporation will post -0.9 EPS for the current year.

Institutional Investors Weigh In On Hycroft Mining

Several hedge funds have recently modified their holdings of HYMC. FNY Investment Advisers LLC increased its holdings in shares of Hycroft Mining by 50.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,500 shares of the company's stock worth $35,000 after buying an additional 500 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in Hycroft Mining in the first quarter valued at $34,000. Hollencrest Capital Management purchased a new stake in Hycroft Mining during the first quarter valued at about $35,000. Integrated Wealth Concepts LLC purchased a new stake in Hycroft Mining during the second quarter valued at about $25,000. Finally, Arizona State Retirement System increased its stake in Hycroft Mining by 9.0% during the second quarter. Arizona State Retirement System now owns 14,446 shares of the company's stock worth $338,000 after acquiring an additional 1,198 shares during the last quarter. 7.38% of the stock is owned by institutional investors and hedge funds.

Hycroft Mining Company Profile

Hycroft Mining Holding Corporation is a U.S.-based precious metals exploration and development company focused on the Hycroft Mine, a large open-pit gold and silver project in Humboldt County, Nevada, near Winnemucca. The company owns and operates the project through its subsidiary, Hycroft Mining Corporation.

The Hycroft Mine historically produced gold and silver using open-pit mining and heap-leach processing. Following a period of operations under previous ownership, mining activities were suspended, and Hycroft has since focused primarily on exploration, resource evaluation, metallurgical testing, and technical studies intended to assess potential future development and production options.

Hycroft's activities are concentrated in the United States, particularly at its Nevada property.

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