Hycroft Mining (NASDAQ:HYMC) Shares Gap Up - Should You Buy?

Key Points

• Hycroft shares jumped: The stock opened at $17.54 after closing at $16.09 and was recently trading at $17.314, up 11.3% on the day.
• Analyst views are mixed: Ratings range from Buy to Sell, leaving a consensus Hold rating and an average price target of $25.
• The company reported a quarterly loss of $0.28 per share, missing analysts’ estimate of a $0.17 loss; meanwhile, a director bought 3,000 shares at $16.69.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) shares gapped up before the market opened on Wednesday. The stock had previously closed at $16.09, but opened at $17.54. Hycroft Mining shares last traded at $17.3140, with a volume of 400,561 shares changing hands.

Wall Street Analyst Weigh In

HYMC has been the topic of several analyst reports. Zacks Research upgraded shares of Hycroft Mining to a "hold" rating in a report on Monday, July 13th. B. Riley Financial began 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. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Hycroft Mining in a research note on Friday, September 11th. 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, the stock has a consensus rating of "Hold" and an average price target of $25.00.

Hycroft Mining Trading Up 11.3%

The stock has a market capitalization of $1.67 billion, a PE ratio of -18.04 and a beta of 2.89. The firm has a 50-day moving average price of $19.77 and a 200-day moving average price of $29.84.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last released its earnings results on Tuesday, October 27th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.11). Sell-side analysts expect that Hycroft Mining Holding Corporation will post -0.90 earnings per share for the current fiscal year.

Insider Buying and Selling at Hycroft Mining

In related news, Director Blake Rhodes purchased 3,000 shares of the firm's stock in a transaction dated Wednesday, October 28th. The stock was bought at an average price of $16.69 per share, for a total transaction of $50,070.00. Following the purchase, the director directly owned 7,068 shares in the company, valued at approximately $117,964.92. This trade represents a 73.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is owned by corporate insiders.

Institutional Trading of Hycroft Mining

Large investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in Hycroft Mining in the 1st quarter worth about $35,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Hycroft Mining in the second quarter worth about $25,000. Legacy Wealth Managment LLC ID bought a new position in shares of Hycroft Mining in the first quarter valued at approximately $44,000. KBC Group NV bought a new position in shares of Hycroft Mining in the first quarter valued at approximately $51,000. Finally, FNY Investment Advisers LLC boosted its position in shares of Hycroft Mining by 50.0% in the second quarter. FNY Investment Advisers LLC now owns 1,500 shares of the company's stock valued at $35,000 after acquiring an additional 500 shares during the period. 7.38% of the stock is owned by hedge funds and other institutional investors.

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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