Hycroft Mining (NASDAQ:HYMC) Shares Down 6.6% – Here’s What Happened

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) traded down 6.6% during mid-day trading on Wednesday . The company traded as low as $36.75 and last traded at $39.31. 3,945,029 shares were traded during trading, a decline of 32% from the average session volume of 5,808,758 shares. The stock had previously closed at $42.07.

Wall Street Analyst Weigh In

HYMC has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Hycroft Mining presently has an average rating of “Sell”.

Hycroft Mining Stock Down 6.6%

The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -24.27 and a beta of 2.62. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87. The business has a fifty day moving average price of $26.19 and a two-hundred day moving average price of $13.21.

Insider Transactions at Hycroft Mining

In other Hycroft Mining news, major shareholder Eric Sprott acquired 2,340,824 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average cost of $10.30 per share, with a total value of $24,110,487.20. Following the acquisition, the insider directly owned 29,466,352 shares of the company’s stock, valued at approximately $303,503,425.60. The trade was a 8.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have purchased 5,755,824 shares of company stock worth $88,013,837. Company insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG raised its stake in shares of Hycroft Mining by 5.4% during the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after buying an additional 51,126 shares during the last quarter. Vanguard Group Inc. grew its holdings in Hycroft Mining by 150.2% during the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after acquiring an additional 1,702,288 shares during the period. U S Global Investors Inc. purchased a new position in Hycroft Mining during the fourth quarter valued at approximately $238,000. Mountain Capital Investment Advisors Inc. acquired a new position in Hycroft Mining in the fourth quarter valued at approximately $156,000. Finally, Lincoln Capital Corp purchased a new stake in Hycroft Mining in the 4th quarter worth approximately $952,000. 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.