Hycroft Mining (NASDAQ:HYMC) Shares Gap Up - What's Next?
Hycroft Mining (NASDAQ:HYMC) shares experienced a price gap up, opening at $12.39 from a previous close of $11.70. Despite this, the stock has a consensus "Sell" rating, with recent upgrades to "Hold" by Wall Street Zen. The company reported a quarterly EPS of ($0.22), beating estimates. Insider trading includes significant purchases by major shareholder Eric Sprott. Institutional investors have also adjusted their holdings. Hycroft operates a gold and silver mine in Nevada. The market cap is $981.79 million with a PE ratio of -7.47.
Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $11.70, but opened at $12.39. Hycroft Mining shares last traded at $12.0550, with a volume of 531,464 shares.
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HYMC has been the topic of several recent research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Hycroft Mining in a research report on Wednesday, October 8th. Wall Street Zen upgraded Hycroft Mining from a "sell" rating to a "hold" rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of "Sell".
View Our Latest Research Report on HYMC
Hycroft Mining Trading Up 3.6%
The company's 50 day moving average price is $8.00 and its two-hundred day moving average price is $5.33. The firm has a market cap of $981.79 million, a PE ratio of -7.47 and a beta of 2.47. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83.
Hycroft Mining (NASDAQ:HYMC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.02.
Insider Activity
In related news, SVP Rebecca Jennings sold 30,084 shares of Hycroft Mining stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $6.57, for a total value of $197,651.88. Following the completion of the sale, the senior vice president directly owned 100,024 shares in the company, valued at $657,157.68. The trade was a 23.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Eric Sprott acquired 9,344,704 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was acquired at an average cost of $4.28 per share, with a total value of $39,995,333.12. Following the completion of the purchase, the insider owned 17,535,528 shares of the company's stock, valued at $75,052,059.84. This trade represents a 114.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 18,034,704 shares of company stock worth $98,720,333. Company insiders own 1.31% of the company's stock.
Hedge Funds Weigh In On Hycroft Mining
Hedge funds and other institutional investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Hycroft Mining during the first quarter valued at approximately $136,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Hycroft Mining by 11.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company's stock valued at $1,490,000 after acquiring an additional 47,385 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Hycroft Mining in the 1st quarter valued at $124,000. Clear Harbor Asset Management LLC purchased a new position in shares of Hycroft Mining in the 2nd quarter valued at $141,000. Finally, Timelo Investment Management Inc. bought a new position in shares of Hycroft Mining in the 2nd quarter worth $470,000. 7.38% of the stock is currently owned by institutional investors.
Hycroft Mining Company Profile
(Get Free Report)Hycroft Mining Holding Corporation, together with its subsidiaries, operates as a gold and silver development company in the United States. The company holds interests in the Hycroft mine that consists of 30 private parcels with patented claims comprising approximately 1,787 acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres located in the state of Nevada.
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