Hycroft Mining (NASDAQ:HYMC) Sets New 1-Year High – Here’s Why
by Doug Wharley · The Cerbat GemShares of Hycroft Mining Holding Corporation (NASDAQ:HYMC – Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $39.13 and last traded at $39.0330, with a volume of 1135919 shares. The stock had previously closed at $34.63.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on HYMC. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.
Get Our Latest Stock Report on Hycroft Mining
Hycroft Mining Price Performance
The stock has a market cap of $3.36 billion, a P/E ratio of -25.01 and a beta of 2.64. The business has a 50 day simple moving average of $18.40 and a 200-day simple moving average of $10.00. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04.
Hycroft Mining (NASDAQ:HYMC – Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02.
Insiders Place Their Bets
In other Hycroft Mining news, major shareholder Eric Sprott purchased 200,000 shares of the stock in a transaction dated Wednesday, January 14th. The shares were bought at an average price of $33.21 per share, with a total value of $6,642,000.00. Following the completion of the transaction, the insider directly owned 36,453,704 shares in the company, valued at approximately $1,210,627,509.84. This trade represents a 0.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Brian Thomas sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $21.21, for a total transaction of $318,150.00. Following the completion of the transaction, the senior vice president directly owned 81,070 shares of the company’s stock, valued at approximately $1,719,494.70. This trade represents a 15.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 5,455,824 shares of company stock valued at $73,819,837 and sold 38,859 shares valued at $517,545. Company insiders own 1.31% of the company’s stock.
Hedge Funds Weigh In On Hycroft Mining
Several hedge funds have recently made changes to their positions in HYMC. FNY Investment Advisers LLC lifted its holdings in Hycroft Mining by 1,666.7% during the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after purchasing an additional 1,000 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Hycroft Mining by 166.6% in the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after acquiring an additional 2,537 shares during the period. Virtu Financial LLC grew its stake in Hycroft Mining by 20.3% during the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after acquiring an additional 2,700 shares in the last quarter. Geode Capital Management LLC increased its holdings in Hycroft Mining by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after acquiring an additional 3,146 shares during the period. Finally, SG Americas Securities LLC bought a new position in Hycroft Mining in the 4th quarter valued at $320,000. 7.38% of the stock is currently owned by hedge funds and other institutional investors.
About Hycroft Mining
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.