Hycroft Mining (NASDAQ:HYMC) Now Covered by Analysts at B. Riley Financial

B. Riley Financial assumed coverage on shares of Hycroft Mining (NASDAQ:HYMC) in a research note released on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $28.00 target price on the stock.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen upgraded shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.00.

Hycroft Mining Stock Performance

HYMC stock traded down $0.42 during midday trading on Friday, reaching $21.38. 1,159,609 shares of the company were exchanged, compared to its average volume of 2,272,456. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -17.97 and a beta of 2.71. Hycroft Mining has a 1-year low of $3.22 and a 1-year high of $58.73. The stock’s 50-day simple moving average is $29.66 and its 200 day simple moving average is $34.55.

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

Insiders Place Their Bets

In related news, CEO Diane R. Garrett sold 21,550 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $31.50, for a total value of $678,825.00. Following the completion of the sale, the chief executive officer owned 928,352 shares in the company, valued at $29,243,088. This represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Eric Sprott purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average price of $37.84 per share, with a total value of $3,784,000.00. Following the purchase, the insider owned 37,403,704 shares in the company, valued at $1,415,356,159.36. This trade represents a 0.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 99,873 shares of company stock worth $2,884,778. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB purchased a new position in shares of Hycroft Mining during the second quarter worth about $531,000. FNY Investment Advisers LLC raised its stake in Hycroft Mining by 50.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,500 shares of the company’s stock valued at $35,000 after acquiring an additional 500 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in Hycroft Mining by 186.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 94,760 shares of the company’s stock worth $2,217,000 after acquiring an additional 61,699 shares during the period. NewEdge Advisors LLC acquired a new stake in Hycroft Mining during the 1st quarter worth approximately $1,055,000. Finally, Bank of America Corp DE grew its stake in shares of Hycroft Mining by 6,228.3% in the 1st quarter. Bank of America Corp DE now owns 100,999 shares of the company’s stock valued at $3,555,000 after purchasing an additional 99,403 shares during 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.