Hycroft Mining (NASDAQ:HYMC) Shares Gap Down After Insider Selling

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $40.28, but opened at $37.66. Hycroft Mining shares last traded at $37.3860, with a volume of 787,397 shares changing hands.

Specifically, SVP Rebecca Jennings sold 9,071 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $39.33, for a total transaction of $356,762.43. Following the transaction, the senior vice president owned 215,794 shares of the company’s stock, valued at $8,487,178.02. The trade was a 4.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

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

Hycroft Mining Price Performance

The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -22.95 and a beta of 2.58. The company’s 50-day simple moving average is $40.40 and its 200-day simple moving average is $21.12.

Institutional Trading of Hycroft Mining

Several institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC increased its position in Hycroft Mining by 1,666.7% during the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after buying an additional 1,000 shares during the period. Bank of America Corp DE lifted its holdings in shares of Hycroft Mining by 166.6% during the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after buying an additional 2,537 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Hycroft Mining in the fourth quarter valued at about $52,000. Wells Fargo & Company MN bought a new stake in shares of Hycroft Mining in the fourth quarter valued at about $71,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Hycroft Mining in the fourth quarter valued at about $81,000. 7.38% of the stock is currently owned by 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.