Hycroft Mining (NASDAQ:HYMC) Shares Gap Down on Insider Selling

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $40.28, but opened at $37.66. Hycroft Mining shares last traded at $37.3860, with a volume of 787,397 shares traded.

Specifically, SVP Rebecca Jennings sold 9,071 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $39.33, for a total value of $356,762.43. Following the completion of the sale, the senior vice president owned 215,794 shares of the company’s stock, valued at approximately $8,487,178.02. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hycroft Mining currently has an average rating of “Sell”.

Hycroft Mining Trading Down 10.0%

The firm has a market cap of $3.30 billion, a PE ratio of -22.37 and a beta of 2.58. The company has a 50 day moving average price of $40.53 and a 200 day moving average price of $21.23.

Institutional Trading of Hycroft Mining

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Hycroft Mining by 11.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock valued at $1,490,000 after buying an additional 47,385 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Hycroft Mining in the 1st quarter worth about $124,000. Geode Capital Management LLC boosted 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 in the last quarter. XTX Topco Ltd acquired a new stake in Hycroft Mining in the 2nd quarter valued at about $101,000. Finally, LM Asset IM Inc. purchased a new position in Hycroft Mining during the 2nd quarter valued at about $1,189,000. Institutional investors and hedge funds own 7.38% of the company’s stock.

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.