Hycroft Mining (NASDAQ:HYMC) Stock Price Down 2.6% – Here’s What Happened

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) were down 2.6% during trading on Friday . The stock traded as low as $41.06 and last traded at $41.07. Approximately 7,020,835 shares were traded during trading, an increase of 32% from the average daily volume of 5,325,561 shares. The stock had previously closed at $42.15.

Wall Street Analysts Forecast Growth

HYMC has been the topic of a number of research reports. 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 report on Saturday, November 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -25.35 and a beta of 2.62. The stock has a fifty day simple moving average of $32.23 and a 200-day simple moving average of $15.83. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87.

Insiders Place Their Bets

In related news, major shareholder Eric Sprott purchased 2,340,824 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were purchased at an average cost of $10.30 per share, with a total value of $24,110,487.20. Following the purchase, the insider owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. This represents a 8.63% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 4,755,824 shares of company stock worth $79,273,837 in the last ninety days. Corporate insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

Hedge funds have recently modified their holdings of the company. LM Asset IM Inc. purchased a new stake in Hycroft Mining in the second quarter valued at approximately $1,189,000. Timelo Investment Management Inc. acquired a new stake in shares of Hycroft Mining in the second quarter valued at $470,000. Vanguard Group Inc. grew its stake in shares of Hycroft Mining by 150.2% in the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after buying an additional 1,702,288 shares in the last quarter. UBS Group AG raised 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 buying an additional 51,126 shares during the period. Finally, U S Global Investors Inc. acquired a new position in Hycroft Mining during the 4th quarter worth about $238,000. Hedge funds and other institutional investors own 7.38% of the company’s stock.

About Hycroft Mining

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.