Hycroft Mining (NASDAQ:HYMC) Shares Up 7.5% - Still a Buy?

Key Points

• Hycroft Mining shares rose 7.5% to approximately $22.07 during mid-day trading, though volume was 67% below the average session level.
• Analyst opinions remain mixed, with one Buy, one Hold, and one Sell rating; the consensus is Hold with a $25.00 price target.
• The company reported a quarterly loss of $0.23 per share, missing expectations by $0.08, 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 traded up 7.5% during mid-day trading on Tuesday . The company traded as high as $21.58 and last traded at $22.0670. Approximately 1,010,192 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 3,017,236 shares. The stock had previously closed at $20.53.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of Hycroft Mining from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 30th. B. Riley Financial began coverage on shares of Hycroft Mining in a research note on Monday, August 3rd. They set a "buy" rating and a $25.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Hycroft Mining in a research report on Friday, September 11th. Finally, Zacks Research raised Hycroft Mining to a "hold" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Hycroft Mining currently has a consensus rating of "Hold" and a consensus target price of $25.00.

Hycroft Mining Stock Performance

The company has a market capitalization of $2.06 billion, a P/E ratio of -22.27 and a beta of 2.83. The stock's fifty day moving average price is $22.88 and its 200-day moving average price is $29.54.

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

Hedge Funds Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HYMC. Ninepoint Partners LP purchased a new stake in Hycroft Mining in the 2nd quarter worth approximately $14,705,000. Amundi purchased a new position in shares of Hycroft Mining in the 1st quarter worth about $14,471,000. Renaissance Technologies LLC lifted its stake in shares of Hycroft Mining by 5.6% in the first quarter. Renaissance Technologies LLC now owns 303,264 shares of the company's stock worth $10,675,000 after buying an additional 16,200 shares in the last quarter. Cetera Investment Advisers lifted its stake in Hycroft Mining by 1.9% during the 1st quarter. Cetera Investment Advisers now owns 220,201 shares of the company's stock valued at $7,751,000 after acquiring an additional 4,121 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Hycroft Mining in the 4th quarter worth approximately $3,328,000. 7.38% of the stock is currently owned by hedge funds and other 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 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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