Hycroft Mining (NASDAQ:HYMC) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $19.24 and traded as high as $21.66. Hycroft Mining shares last traded at $21.27, with a volume of 2,856,959 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on HYMC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Friday, September 11th. Zacks Research raised Hycroft Mining to a “hold” rating in a report on Monday, July 13th. Finally, B. Riley Financial initiated coverage on Hycroft Mining in a research report on Monday, August 3rd. They issued a “buy” rating and a $25.00 price target for the company. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.00.

Hycroft Mining Stock Performance

The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -21.48 and a beta of 2.89. The company has a 50-day moving average of $19.24 and a 200-day moving average of $29.45.

Hycroft Mining (NASDAQ:HYMC) last announced its earnings results on Tuesday, October 27th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.11). As a group, analysts expect that Hycroft Mining Holding Corporation will post -0.90 earnings per share for the current year.

Insider Activity

In related news, Director Blake Rhodes acquired 3,000 shares of Hycroft Mining stock in a transaction dated Wednesday, October 28th. The shares were acquired at an average cost of $16.69 per share, for a total transaction of $50,070.00. Following the completion of the transaction, the director directly owned 7,068 shares of the company’s stock, valued at $117,964.92. The trade was a 73.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Ninepoint Partners LP purchased a new position in Hycroft Mining in the 2nd quarter valued at about $14,705,000. Alps Advisors Inc. grew its holdings in shares of Hycroft Mining by 693.9% during the third quarter. Alps Advisors Inc. now owns 707,574 shares of the company’s stock worth $13,472,000 after buying an additional 618,447 shares in the last quarter. Amundi purchased a new stake in shares of Hycroft Mining during the first quarter worth about $14,471,000. Bank of America Corp DE grew its holdings in shares of Hycroft Mining by 6,228.3% during the first quarter. Bank of America Corp DE now owns 100,999 shares of the company’s stock worth $3,555,000 after buying an additional 99,403 shares in the last quarter. Finally, Swiss National Bank acquired a new position in shares of Hycroft Mining in the first quarter valued at approximately $3,362,000. Institutional investors and hedge funds own 7.38% of the company’s stock.

Hycroft Mining Company Profile

Hycroft Mining Holding Corporation is a U.S.-based precious metals company focused on exploring and developing the Hycroft Mine, a large open-pit gold and silver project near Winnemucca in northern Nevada. The company’s activities include mineral exploration, mine planning and technical studies aimed at evaluating the property’s deposits.

The Hycroft property contains both oxide and sulfide mineralization. Hycroft has focused on assessing the sulfide resources and potential processing approaches, while continuing exploration across the mine site.

The company’s operations and development activities are centered in Nevada.