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

Key Points

• Hycroft Mining shares opened lower at $24.91 versus the prior close of $25.74, later trading near $25.61 on volume of approximately 357,636 shares.
• Analyst sentiment is mixed, with ratings ranging from Buy to Sell; the consensus is Hold with an average price target of $25.00.
• The company missed quarterly earnings expectations, reporting a loss of $0.23 per share versus the expected $0.15 loss. Insiders have also sold nearly 100,000 shares over the past 90 days, while institutional investors own 7.38% of the stock.

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $25.74, but opened at $24.91. Hycroft Mining shares last traded at $25.6080, with a volume of 357,636 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HYMC. Zacks Research raised shares of Hycroft Mining to a "hold" rating in a research note on Monday, July 13th. B. Riley Financial initiated coverage on shares of Hycroft Mining in a report on Monday, August 3rd. They issued a "buy" rating and a $25.00 target price on the stock. Wall Street Zen raised shares of Hycroft Mining from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 30th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Hycroft Mining in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $25.00.

Hycroft Mining Stock Performance

The company has a 50-day moving average of $23.18 and a 200-day moving average of $32.16. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -25.79 and a beta of 2.78.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last issued 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 anticipate that Hycroft Mining Holding Corporation will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at Hycroft Mining

In other news, SVP Rebecca Jennings sold 1,194 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.64, for a total transaction of $34,196.16. Following the completion of the transaction, the senior vice president directly owned 202,498 shares in the company, valued at $5,799,542.72. This represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stanton K. Rideout sold 16,500 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $30.18, for a total value of $497,970.00. Following the completion of the transaction, the chief financial officer owned 481,947 shares of the company's stock, valued at $14,545,160.46. The trade was a 3.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 99,873 shares of company stock valued at $2,884,778 over the last ninety days. 0.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hycroft Mining

A number of institutional investors and hedge funds have recently made changes to their positions in HYMC. Contravisory Investment Management Inc. acquired a new stake in shares of Hycroft Mining in the 1st quarter valued at approximately $34,000. Hollencrest Capital Management bought a new stake in Hycroft Mining during the first quarter worth $35,000. Legacy Wealth Managment LLC ID acquired a new stake in Hycroft Mining in the first quarter valued at $44,000. Harbor Investment Advisory LLC bought a new position in shares of Hycroft Mining in the 1st quarter valued at about $49,000. Finally, KBC Group NV bought a new position in shares of Hycroft Mining in the 1st quarter valued at about $51,000. Institutional investors own 7.38% of the company's stock.

About Hycroft Mining

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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