Wall Street Zen Downgrades Hycroft Mining (NASDAQ:HYMC) to Sell

Key Points

• Wall Street Zen downgraded Hycroft Mining (NASDAQ:HYMC) from "hold" to a sell, and Weiss Ratings reiterated a "sell (d-)", leaving the consensus rating at Sell.
• Hycroft reported a quarterly loss of ($0.54) EPS, missing estimates by $0.45, trades with a negative P/E and a market cap around $3.54 billion, and remains volatile with a 52-week range of $2.71–$58.73.
• Notable positioning includes major shareholder Eric Sprott buying 100,000 shares (~$3.78M) and insiders/ institutions (including Vanguard) materially increasing stakes over the last quarter.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Hycroft Mining currently has a consensus rating of "Sell".

Hycroft Mining Stock Up 6.2%

Shares of Hycroft Mining stock opened at $38.73 on Friday. The firm's 50 day moving average price is $39.36 and its 200-day moving average price is $27.68. Hycroft Mining has a 52-week low of $2.71 and a 52-week high of $58.73. The company has a market cap of $3.54 billion, a P/E ratio of -34.58 and a beta of 2.72.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.45).

Insider Buying and Selling

In other Hycroft Mining news, major shareholder Eric Sprott acquired 100,000 shares of the firm's stock in a transaction on Friday, April 24th. The stock was acquired at an average cost of $37.84 per share, for a total transaction of $3,784,000.00. Following the purchase, the insider owned 37,403,704 shares in the company, valued at approximately $1,415,356,159.36. The trade was a 0.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rebecca Jennings sold 9,071 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total transaction of $356,762.43. Following the completion of the sale, the senior vice president directly owned 215,794 shares in the company, valued at $8,487,178.02. This trade represents a 4.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders purchased a total of 550,000 shares of company stock valued at $22,583,500 over the last quarter. 0.77% of the stock is owned by company insiders.

Institutional Trading of Hycroft Mining

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Hycroft Mining by 150.2% in the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company's stock valued at $67,402,000 after acquiring an additional 1,702,288 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Hycroft Mining in the 4th quarter valued at $39,815,000. Tidal Investments LLC boosted its holdings in shares of Hycroft Mining by 125.3% in the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company's stock valued at $9,711,000 after acquiring an additional 871,030 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Hycroft Mining in the 4th quarter valued at $36,366,000. Finally, UBS Group AG boosted its holdings in shares of Hycroft Mining by 5.4% in the 4th quarter. UBS Group AG now owns 996,148 shares of the company's stock valued at $23,678,000 after acquiring an additional 51,126 shares during the last quarter. 7.38% of the stock is owned by hedge funds and other institutional investors.

Hycroft Mining Company Profile

Hycroft Mining PLC is a precious metals company focused on the exploration, development and operation of the Hycroft Mine, a large oxide gold and silver deposit in northwestern Nevada. The company’s primary activities include open-pit mining, heap leach extraction and carbon adsorption/desorption processing designed to recover gold and silver from crushed ore. Hycroft’s technical team employs conventional mining methods and metallurgical processes to advance resource conversion and optimize recovery rates.

Located on approximately 28,800 hectares in Humboldt County, Nevada, the Hycroft Mine ranks among the largest undeveloped oxide gold-silver deposits in North America.

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