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

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares 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 that occurred on Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total transaction of $356,762.43. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

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

Hycroft Mining Stock Performance

The stock has a market cap of $2.89 billion, a PE ratio of -19.60 and a beta of 2.58. The firm’s 50-day moving average is $40.64 and its 200 day moving average is $21.30.

Institutional Investors Weigh In On Hycroft Mining

A number of institutional investors and hedge funds have recently made changes to their positions in HYMC. Vanguard Group Inc. increased its position in Hycroft Mining by 150.2% in the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after acquiring an additional 1,702,288 shares during the period. Franklin Resources Inc. purchased a new stake in Hycroft Mining during the 4th quarter valued at approximately $39,815,000. Schroder Investment Management Group acquired a new stake in Hycroft Mining during the 4th quarter worth approximately $36,366,000. Tidal Investments LLC lifted its position in Hycroft Mining by 125.3% during the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after acquiring an additional 871,030 shares during the period. Finally, UBS Group AG grew its stake in shares of Hycroft Mining by 711.9% in the 3rd quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after purchasing an additional 828,625 shares during the last quarter. 7.38% of the stock is owned by hedge funds and other institutional investors.

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.