Hycroft Mining (NASDAQ:HYMC) Shares Down 14.2% – Here’s What Happened

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) dropped 14.2% during mid-day trading on Thursday . The stock traded as low as $33.04 and last traded at $33.72. Approximately 4,882,003 shares were traded during trading, a decline of 15% from the average daily volume of 5,771,757 shares. The stock had previously closed at $39.31.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on HYMC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Hycroft Mining Stock Performance

The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83. The company has a fifty day moving average price of $26.77 and a 200 day moving average price of $13.40. The stock has a market cap of $2.80 billion, a PE ratio of -20.81 and a beta of 2.62.

Insider Buying and Selling

In related news, major shareholder Eric Sprott acquired 2,340,824 shares of the stock in a transaction on Wednesday, December 3rd. The stock was purchased at an average price of $10.30 per share, for a total transaction of $24,110,487.20. Following the completion of the transaction, the insider owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. This trade represents a 8.63% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders purchased 5,755,824 shares of company stock valued at $88,013,837. 1.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Hycroft Mining by 11.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock valued at $1,490,000 after buying an additional 47,385 shares during the period. Jane Street Group LLC bought a new position in shares of Hycroft Mining during the first quarter valued at about $124,000. Timelo Investment Management Inc. purchased a new stake in shares of Hycroft Mining during the second quarter worth about $470,000. Geode Capital Management LLC grew its stake in shares of Hycroft Mining by 1.4% in the second quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after purchasing an additional 3,146 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Hycroft Mining in the second quarter worth about $101,000. 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.