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

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped up prior to trading on Monday . The stock had previously closed at $25.76, but opened at $28.67. Hycroft Mining shares last traded at $28.9140, with a volume of 495,046 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hycroft Mining has a consensus rating of “Sell”.

Hycroft Mining Trading Up 11.9%

The company has a market cap of $2.63 billion, a PE ratio of -24.34 and a beta of 2.62. The business has a 50 day simple moving average of $35.63 and a two-hundred day simple moving average of $33.10.

Hycroft Mining (NASDAQ:HYMC) last released its earnings results on Monday, April 27th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.45).

Insider Transactions at Hycroft Mining

In related news, SVP David Brian Thomas sold 9,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.15, for a total value of $271,350.00. Following the completion of the transaction, the senior vice president directly owned 193,374 shares in the company, valued at approximately $5,830,226.10. This represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rebecca Jennings sold 11,300 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $30.27, for a total value of $342,051.00. Following the completion of the transaction, the senior vice president owned 204,494 shares of the company’s stock, valued at $6,190,033.38. The trade was a 5.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 67,421 shares of company stock valued at $2,146,958. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Hycroft Mining by 11.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock worth $1,490,000 after buying an additional 47,385 shares during the period. Jane Street Group LLC purchased a new position in shares of Hycroft Mining in the 1st quarter worth $124,000. Geode Capital Management LLC raised its position in shares of Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after buying an additional 3,146 shares during the period. XTX Topco Ltd purchased a new position in shares of Hycroft Mining in the 2nd quarter worth $101,000. Finally, Shay Capital LLC raised its position in shares of Hycroft Mining by 100.2% in the 2nd quarter. Shay Capital LLC now owns 246,627 shares of the company’s stock worth $772,000 after buying an additional 123,453 shares during the period. 7.38% of the stock is currently owned by institutional investors and hedge funds.

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.