Ninepoint Partners LP Buys Shares of 628,405 Hycroft Mining Holding Corporation $HYMC

Ninepoint Partners LP purchased a new stake in Hycroft Mining Holding Corporation (NASDAQ:HYMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 628,405 shares of the company’s stock, valued at approximately $14,705,000. Hycroft Mining accounts for approximately 1.1% of Ninepoint Partners LP’s holdings, making the stock its 16th largest position.

Several other hedge funds have also made changes to their positions in HYMC. Bank of America Corp DE raised its position in shares of Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after buying an additional 2,537 shares during the period. Contravisory Investment Management Inc. purchased a new position in Hycroft Mining in the first quarter worth approximately $34,000. Hollencrest Capital Management purchased a new position in Hycroft Mining in the first quarter worth approximately $35,000. FNY Investment Advisers LLC increased its stake in Hycroft Mining by 50.0% during the second quarter. FNY Investment Advisers LLC now owns 1,500 shares of the company’s stock worth $35,000 after acquiring an additional 500 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID acquired a new stake in Hycroft Mining during the first quarter worth $44,000. Hedge funds and other institutional investors own 7.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Tuesday, June 16th. B. Riley Financial assumed coverage on Hycroft Mining in a research report on Monday, August 3rd. They set a “buy” rating and a $25.00 price objective for the company. Zacks Research upgraded shares of Hycroft Mining to a “hold” rating in a report on Monday, July 13th. Finally, Wall Street Zen raised shares of Hycroft Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Hycroft Mining currently has a consensus rating of “Hold” and an average target price of $25.00.

Insider Buying and Selling at Hycroft Mining

In other Hycroft Mining news, CEO Diane R. Garrett sold 21,550 shares of the business’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 transaction, the chief executive officer owned 928,352 shares in the company, valued at $29,243,088. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Rebecca Jennings sold 15,329 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $26.25, for a total value of $402,386.25. Following the sale, the senior vice president directly owned 202,498 shares in the company, valued at $5,315,572.50. This represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 99,873 shares of company stock worth $2,884,778. 0.77% of the stock is currently owned by corporate insiders.

Hycroft Mining Stock Performance

Hycroft Mining stock opened at $26.14 on Friday. Hycroft Mining Holding Corporation has a fifty-two week low of $3.68 and a fifty-two week high of $58.73. The firm has a 50 day moving average price of $23.19 and a 200 day moving average price of $32.33. The company has a market capitalization of $2.44 billion, a PE ratio of -26.40 and a beta of 2.78.

Hycroft Mining (NASDAQ:HYMC) last issued its quarterly earnings results on Monday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). As a group, equities research analysts forecast that Hycroft Mining Holding Corporation will post -0.9 earnings per share for the current year.

Hycroft Mining 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.