Hycroft Mining (NASDAQ:HYMC) Shares Gap Up - Here's What Happened

Key Points

• Hycroft Mining shares opened higher, rising from a prior close of $20.05 to $21.36 and last trading at $21.5460 on volume of 446,860 shares.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $25.00 price target, with one Buy, one Hold, and one Sell rating.
• The company reported a quarterly loss of $0.23 per share, missing the $0.15 loss estimate, while institutional investors own 7.38% of HYMC and several funds recently increased or initiated positions.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $20.05, but opened at $21.36. Hycroft Mining shares last traded at $21.5460, with a volume of 446,860 shares changing hands.

Wall Street Analyst Weigh In

HYMC has been the subject of several recent research reports. B. Riley Financial began coverage on Hycroft Mining in a research report on Monday, August 3rd. They issued a "buy" rating and a $25.00 price target for the company. Wall Street Zen upgraded Hycroft Mining from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Hycroft Mining in a research note on Friday, September 11th. Finally, Zacks Research raised Hycroft Mining to a "hold" rating in a research report on Monday, July 13th. One research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $25.00.

Hycroft Mining Price Performance

The stock has a market cap of $1.99 billion, a PE ratio of -21.54 and a beta of 2.83. The business has a fifty day moving average of $22.88 and a 200-day moving average of $30.19.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.08). As a group, equities research analysts predict 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. California State Teachers Retirement System purchased a new stake in shares of Hycroft Mining during the 1st quarter worth $1,958,000. 180 Wealth Advisors LLC grew its position in Hycroft Mining by 186.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 94,760 shares of the company's stock worth $2,217,000 after purchasing an additional 61,699 shares during the last quarter. Swiss National Bank purchased a new stake in shares of Hycroft Mining during the first quarter valued at $3,362,000. Foundations Investment Advisors LLC acquired a new position in shares of Hycroft Mining in the fourth quarter valued at about $2,574,000. Finally, Amundi acquired a new position in Hycroft Mining in the 1st quarter worth approximately $14,471,000. Hedge funds and other institutional investors own 7.38% of the company's stock.

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 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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