Hycroft Mining (NASDAQ:HYMC) Shares Gap Down – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares gapped down before the market opened on Thursday . The stock had previously closed at $35.05, but opened at $32.47. Hycroft Mining shares last traded at $35.2740, with a volume of 389,243 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hycroft Mining has a consensus rating of “Sell”.

Hycroft Mining Stock Performance

The company has a market capitalization of $3.28 billion, a P/E ratio of -22.23 and a beta of 2.91. The stock has a 50 day moving average price of $39.74 and a 200 day moving average price of $23.42.

Insider Buying and Selling

In other Hycroft Mining news, SVP Rebecca Jennings sold 9,071 shares of the business’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 sale, the senior vice president directly owned 215,794 shares in the company, valued at $8,487,178.02. The trade was a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Eric Sprott purchased 200,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were purchased at an average cost of $33.21 per share, for a total transaction of $6,642,000.00. Following the transaction, the insider directly owned 36,453,704 shares in the company, valued at approximately $1,210,627,509.84. The trade was a 0.55% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 875,000 shares of company stock valued at $35,185,750 over the last three months. Insiders own 1.31% of the company’s stock.

Institutional Trading of Hycroft Mining

Several hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC lifted its stake in shares of Hycroft Mining by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock valued at $1,000,000 after buying an additional 475 shares in the last quarter. FNY Investment Advisers LLC lifted its position in shares of Hycroft Mining by 1,666.7% during the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after acquiring an additional 1,000 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in Hycroft Mining during the 4th quarter worth about $52,000. Bank of America Corp DE boosted its stake in Hycroft Mining by 166.6% in the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after purchasing an additional 2,537 shares during the period. Finally, Virtu Financial LLC boosted its stake in Hycroft Mining by 20.3% in the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after purchasing an additional 2,700 shares during the period. Institutional investors 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.