Hycroft Mining (NASDAQ:HYMC) Shares Gap Down - What's Next?

Key Points

• Hycroft Mining shares fell 6.1%, opening at $18.08 versus the prior close of $19.09, while trading below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $25.00 price target; ratings range from Weiss Ratings’ “sell” to B. Riley’s “buy.”
• The company reported a quarterly loss of $0.23 per share, missing the $0.15-loss consensus estimate, and analysts expect a full-year loss of approximately $0.90 per share.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report)'s share price gapped down prior to trading on Wednesday. The stock had previously closed at $19.09, but opened at $18.08. Hycroft Mining shares last traded at $18.0050, with a volume of 352,665 shares.

Analyst Ratings Changes

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

Hycroft Mining Trading Down 6.1%

The firm has a market capitalization of $1.67 billion, a P/E ratio of -18.07 and a beta of 2.78. The company has a 50 day simple moving average of $22.82 and a two-hundred day simple moving average of $27.93.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last released 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). On average, sell-side analysts expect that Hycroft Mining Holding Corporation will post -0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Hycroft Mining

Several large investors have recently made changes to their positions in the company. Engineers Gate Manager LP bought a new position in shares of Hycroft Mining during the 2nd quarter valued at approximately $248,000. Integrated Wealth Concepts LLC bought a new stake in Hycroft Mining in the second quarter worth $25,000. Arizona State Retirement System increased its position in Hycroft Mining by 9.0% in the second quarter. Arizona State Retirement System now owns 14,446 shares of the company's stock worth $338,000 after purchasing an additional 1,198 shares during the last quarter. Continuum Advisory LLC bought a new stake in Hycroft Mining in the second quarter worth $58,000. Finally, Headlands Technologies LLC raised its stake in Hycroft Mining by 109.5% during the second quarter. Headlands Technologies LLC now owns 37,098 shares of the company's stock valued at $868,000 after purchasing an additional 19,392 shares in the last quarter. 7.38% of the stock is owned by institutional investors.

About Hycroft Mining

Hycroft Mining Holding Corporation is a U.S.-based precious metals exploration and development company focused on the Hycroft Mine, a large gold and silver property in Humboldt County, Nevada, near Winnemucca. The company's activities include mineral exploration, resource evaluation, mine planning, permitting and the development of processing methods intended to support future production.

The Hycroft Mine is an open-pit property that historically produced gold and silver using heap-leach processing.

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