Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped down prior to trading on Wednesday . The stock had previously closed at $44.85, but opened at $42.94. Hycroft Mining shares last traded at $43.7020, with a volume of 665,975 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Hycroft Mining Price Performance

The firm has a market capitalization of $3.81 billion, a PE ratio of -25.85 and a beta of 2.58. The company’s fifty day simple moving average is $38.97 and its 200-day simple moving average is $19.86.

Insider Buying and Selling at Hycroft Mining

In other news, major shareholder Eric Sprott purchased 400,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average cost of $22.70 per share, for a total transaction of $9,080,000.00. Following the completion of the transaction, the insider owned 31,456,352 shares of the company’s stock, valued at $714,059,190.40. This trade represents a 1.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased a total of 2,305,000 shares of company stock valued at $62,008,450 in the last quarter. Company insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sprott Inc. grew its stake in Hycroft Mining by 11.7% during the 3rd quarter. Sprott Inc. now owns 816,253 shares of the company’s stock valued at $5,061,000 after acquiring an additional 85,490 shares in the last quarter. LM Asset IM Inc. acquired a new stake in shares of Hycroft Mining during the second quarter worth about $1,189,000. Quantbot Technologies LP purchased a new position in Hycroft Mining in the 3rd quarter valued at approximately $281,000. Global Retirement Partners LLC grew its stake in shares of Hycroft Mining by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock worth $1,000,000 after acquiring an additional 475 shares in the last quarter. Finally, 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 worth $67,402,000 after acquiring an additional 1,702,288 shares in the last quarter. 7.38% of the stock is owned by hedge funds and other institutional investors.

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.