Hycroft Mining (NASDAQ:HYMC) Upgraded to Sell at Wall Street Zen

Hycroft Mining (NASDAQ:HYMC) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

Hycroft Mining Price Performance

Shares of NASDAQ:HYMC opened at $33.05 on Friday. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -27.77 and a beta of 2.72. The firm’s 50 day simple moving average is $36.54 and its 200 day simple moving average is $31.63. Hycroft Mining has a fifty-two week low of $2.93 and a fifty-two week high of $58.73.

Hycroft Mining (NASDAQ:HYMC) last announced its quarterly earnings results on Monday, April 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.45).

Insider Buying and Selling

In related news, SVP Rebecca Jennings sold 9,071 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were 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. This trade represents a 4.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Eric Sprott bought 100,000 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average cost of $37.84 per share, with a total value of $3,784,000.00. Following the completion of the purchase, the insider owned 37,403,704 shares in the company, valued at $1,415,356,159.36. This represents a 0.27% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 400,000 shares of company stock worth $16,276,000 over the last quarter. 0.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Hycroft Mining

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after purchasing an additional 1,702,288 shares in the last quarter. Franklin Resources Inc. bought a new stake in Hycroft Mining during the 4th quarter worth approximately $39,815,000. Tidal Investments LLC increased its stake 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 purchasing an additional 871,030 shares in the last quarter. Schroder Investment Management Group bought a new stake in Hycroft Mining during the 4th quarter worth approximately $36,366,000. Finally, UBS Group AG increased its stake in Hycroft Mining by 5.4% during the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock worth $23,678,000 after purchasing an additional 51,126 shares in the last quarter. 7.38% of the stock is owned by 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.