Hycroft Mining (NASDAQ:HYMC) Stock Jumps 14.2% - Here's What Happened

Key Points

• Hycroft Mining shares rose 14.2% Monday to about $21.44, though trading volume was 29% below its average.
• Analyst views were mixed: one Buy, one Hold, and one Sell. The consensus rating was Hold, with an average price target of $25.
• The company reported a quarterly loss of $0.28 per share, missing the $0.17 loss analysts expected; meanwhile, a director bought 3,000 shares at $16.69 each.

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) shot up 14.2% on Monday. The company traded as high as $21.57 and last traded at $21.4380. 2,047,343 shares changed hands during trading, a decline of 29% from the average session volume of 2,868,490 shares. The stock had previously closed at $18.77.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HYMC shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Hycroft Mining in a report on Friday, September 11th. Zacks Research raised Hycroft Mining to a "hold" rating in a report on Monday, July 13th. Finally, B. Riley Financial assumed 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. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Hycroft Mining currently has a consensus rating of "Hold" and an average price target of $25.00.

Hycroft Mining Stock Performance

The company has a 50-day moving average price of $19.29 and a 200-day moving average price of $29.54. The firm has a market capitalization of $2.01 billion, a P/E ratio of -21.81 and a beta of 2.89.

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

Insider Buying and Selling at Hycroft Mining

In other 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, with a total value of $50,070.00. Following the acquisition, the director directly owned 7,068 shares of the company's stock, valued at approximately $117,964.92. This represents a 73.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its stake in Hycroft Mining by 693.9% in the third quarter. Alps Advisors Inc. now owns 707,574 shares of the company's stock valued at $13,472,000 after acquiring an additional 618,447 shares during the last quarter. Ninepoint Partners LP bought a new position in shares of Hycroft Mining in the 2nd quarter valued at about $14,705,000. Amundi bought a new position in shares of Hycroft Mining in the 1st quarter valued at about $14,471,000. Renaissance Technologies LLC increased its stake in shares of Hycroft Mining by 5.6% during the 1st quarter. Renaissance Technologies LLC now owns 303,264 shares of the company's stock worth $10,675,000 after purchasing an additional 16,200 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Hycroft Mining by 1.9% during the 1st quarter. Cetera Investment Advisers now owns 220,201 shares of the company's stock worth $7,751,000 after purchasing an additional 4,121 shares during the last quarter. 7.38% of the stock is owned by institutional investors and hedge funds.

About Hycroft Mining

Hycroft Mining Holding Corporation is a U.S.-based precious metals company focused on exploring and developing the Hycroft Mine, a large open-pit gold and silver project near Winnemucca in northern Nevada. The company's activities include mineral exploration, mine planning and technical studies aimed at evaluating the property's deposits.

The Hycroft property contains both oxide and sulfide mineralization. Hycroft has focused on assessing the sulfide resources and potential processing approaches, while continuing exploration across the mine site.

The company's operations and development activities are centered in Nevada.

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