why did hycroft mining stock drop

2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Hycroft Mining had a negative trailing twelve-month return on equity of 75.56% and a negative net margin of 183.06%. The mine has historical production of around 2.1 million ounces of gold and 7.5 million ounces of silver and has been shut down several times so far, usually due to low gold prices. Yet, Hycroft Mining decided to use the proceeds from the equity raise on a drilling campaign ahead of a pre-feasibility study [PFS] focused on utilizing a milling and partial oxidation (POX) process for the sulfide mineralization. Wall Street Legend Who Called AMZN Crash Issues New Sell Alert, Your Ultimate Investment Research Platform, You need at least $100 of this asset and its NOT gold Dr. Nomi Prin. Theres a good chance itll see another big drop down the road. Terms of Service | Privacy Policy. Our daily ratings and market update email newsletter. Spot gold prices hit $2,002.40 yesterday, their highest level since August 2020. The Hycroft Mine was restarted in 2019 to demonstrate its feasibility on a commercial scale. Stock Prodigy Who Found NIO at $2 Says Buy THIS. That's a strong result which is better than most other loss making companies. The gold and silver miner announced that its stock offering will be upsized and priced at $9 per share, which is in line with yesterday's closing price. It doesnt matter if you have $500 in savings or $5 million. 2023 InvestorPlace Media, LLC. However, the prices of commodities are notoriously volatile, and hedging opportunities here seem limited as call options are expensive at the moment. Russia accounts for 40% of global palladium production. Short Interest in Hycroft Mining Holding Co. (NASDAQ:HYMC) Grows By 20.6%, AMC Entertainment Reports Narrower-Than-Expected Loss; Shares Slip, HYCROFT PROVIDES SECOND QUARTER 2022 OPERATING AND FINANCIAL RESULTS, Hycroft Mining Launches Largest Exploration Program In Nearly A Decade, Hycroft Mining eyes higher grade opportunities, launches largest exploration program in nearly a decade, Short Interest in Hycroft Mining Holding Co. (NASDAQ:HYMC) Grows By 90.9%, AMC may have been a meme-stock darling, but weakness in some key areas has the company on shaky ground, Short Interest in Hycroft Mining Holding Co. (NASDAQ:HYMC) Decreases By 18.5%, Hycroft Mining Holding Co. (NASDAQ:HYMC) Major Shareholder Sells $6,350,000.00 in Stock, Short Interest in Hycroft Mining Holding Co. (NASDAQ:HYMC) Decreases By 17.2%, Dont Get Left High and Dry With Hycroft Mining Stock, AMC Stock Active As 'The Batman' Helps Drive Q1 Ticket Sales Rebound, AMC Stock Jumps As 'The Batman' Helps Drive Q1 Ticket Sales Rebound, AMC Scores a Beat at a Difficult Time for Meme Stocks, Mine for Precious Metal Profits with Hycroft Mining, AMC Results Come at a Difficult Time for Meme Stocks, Shopify stock tanks after disappointing earnings, Hycroft Mining shares up, Nikola stock rises, Hycroft Mining pops 30% as update points to stronger balance sheet. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Sign up to receive the latest news and ratings for HYMC and its competitors with MarketBeat's FREE daily newsletter. Today, many of these previous breakout stocks are slipping, but one name is still on the rise. Last month, Hycroft Mining (NASDAQ:HYMC) went from mere junior mining stock, to much-talked about meme stock. Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. Looking further, we note the current price level is -11.32% off its SMA20 and -16.84% from its 50-day simple moving average. Hycroft Mining Holding Corporation (HYMC) stock has fallen -21.21% over the last 12 months. It's lightweight, stores lots of energy and is rechargeable. Im concerned that the company will need to tap into the equity markets to fund the construction of its mine and this could lead to significant stock dilution unless the share price increases over the coming months. In-depth profiles and analysis for 20,000 public companies. Based in Winnemucca, Nevada, Hycroft Mining owns interests in a silver and gone mine of the same name. The main issue here is that grades are low and the oxide ore is almost depleted. Over a longer timeframe, though, its seen a massive drop in price. Scotts Miracle-Gro Co (SMG) Stock Falls -1.84% This Week: Is It a Good Pick? Surging Over 100%: Small Cap Electric Boat Maker Makes Waves, Sleeper AI-Play MongoDB Could Triple In Size. The average electric vehicle needs 138 pounds of lithium carbonate for its battery components. Since then its has reduced somewhat to $1.59, a gain of 3.2%. This article by Simply Wall St is general in nature. You have already added five stocks to your watchlist. In March 2022, Hycroft Mining became a meme stock as movie theater chain AMC Entertainment (AMC) agreed to invest $27.9 million as part of a larger equity raise of $138.6 million. Is Verizons 7% Yield Too Good To Pass Up? Is Verizons 7% Yield Too Good To Pass Up? SunCar Technology Stock OverheatsWill it Rise Again? Written by *Average returns of all recommendations since inception. What is clear is that the market is not judging the company on its revenue growth right now. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The transaction left Hycroft with $50 million in cash on hand, as well as a $110 million senior secured credit facility, of which $70 million was drawn upon the closing. Todays big move higher is good news for HYMC stock and its shareholders. HYMC is flat $0.00 from the previous closing price of $0.52 on volume of 1,318,874 shares. project in the northern part of the state of Nevada named Hycroft Mine, where it had a pre-commercial scale direct leaching run-of-mine (ROM) operation until December 2022. I am not receiving compensation for it (other than from Seeking Alpha). Please log in to your account or sign up in order to add this asset to your watchlist. Si vous ne souhaitez pas que nos partenaires et nousmmes utilisions des cookies et vos donnes personnelles pour ces motifs supplmentaires, cliquez sur Refuser tout. Copyright In short, Wallet Investor's forecast system states that Hycroft is a bad long-term investment and expects it to crash. But China currently controls the entire lithium supply chain. Investors in Hycroft Mining Holding (NASDAQ:HYMC) from a year ago are That being said, short selling seems dangerous, and I think risk-averse investors should avoid HYMC stock. View our HYMC earnings forecast. Each headline receives a score ranging from 2 (good news) to -2 (bad news). On the other hand, looking at the outlook for the HYMC stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. drill results from its 2022-2023 exploration drill program were nothing special. Stock Price data may be delayed up to 15 minutes. Looking at the stock we see that its previous close was $0.34 and the beta (5Y monthly) reads 1.97 with the day's price range being $0.335 - $0.3555. Perform your own due diligence and consult a financial professional before trading. On Penny Stocks and Low-Volume Stocks:With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. So, how do you play this one? Again, taking a look at the details, its far from certain whether its seemingly large reserves will ever translate into ample profits. This week we saw the Hycroft Mining Holding Corporation (NASDAQ:HYMC) share price climb by 21%. Sono Group N.V. (NASDAQ: SEV) 150.58% Incline Turns Investors Away. Investors aren't thrilled to see the company raising funds so soon after the merger transaction. Hycroft Mining may look cheap, when you compare its current valuation ($425 million) to its metals reserves. Overhyped and overvalued, stay away from HYMC stock. Still Hasnt Convinced Analysts? Copper and aluminum prices are also sitting at record levels. NASDAQ:HYMC Hycroft Mining (HYMC) News Today $0.35 -0.01 (-3.39%) (As of 01:03 PM ET) Compare Today's Range $0.34 $0.37 50-Day Range $0.35 $0.55 52-Week Range $0.31 $1.54 Volume 1.80 million shs Average Volume 4.24 million shs Market Capitalization $69.55 million P/E Ratio N/A First, the company has a market capitalization of just $100 million. How were Hycroft Mining's earnings last quarter? It took time for buzz to start surrounding this news. But to truly gain insight, we need to consider other information, too. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Something weird is definitely impacting the stock price; we'd venture the company has destroyed value somehow. Please disable your ad-blocker and refresh. In my view, the momentum here is low, and this is crucial for exploration-stage mining companies. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. I wrote this article myself, and it expresses my own opinions. Your email address will not be published. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. All rights reserved. Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Hycroft Mining Holding Corporation (NASDAQ:HYMC) Quote Profile News Charts Forecasts Financials Shareholders Competitors Stock Price Forecast The 1 analysts offering 12-month price forecasts. The company reported ($0.07) earnings per share for the quarter. Identify stocks that meet your criteria using seven unique stock screeners. AMC Entertainment Reports Narrower-Than-Expected Loss; Shares Slip, 8181 E. Tufts Avenue Suite 510, Denver CO, 80237. Real-time analyst ratings, insider transactions, earnings data, and more. Get daily stock ideas from top-performing Wall Street analysts. Is Yield10 Bioscience Inc (YTEN) a Good Buy in the Agricultural Inputs Industry. Get in Now on Tiny $3 Forever Battery Stock, Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air. If investors continue to push the price of gold, silver and other metals higher in coming days and weeks, than Hycroft Minings stock could continue to benefit. While Hycroft Mining Holding shareholders are down 77% for the year, the market itself is up 27%. Of course, investors do over-react when they are stressed out, so the sell-off could be unjustifiably severe. Estimates by analysts give the company expected earnings per share (EPS) of -$0.06, with the EPS growth for the year raised at -$0.26 for 2023 and -$0.25 for next year. What happened Shares in Hycroft Mining Holding ( HYMC -0.85%) are down 15% as of noon EDT today, after dropping as much as 17% earlier in the day. Dr. Diane Renee Garrett Eng., M.A., M.S., Mineral Eco, Ph.D. HYCROFT ACQUIRES CLAIMS NEAR HISTORIC ROSEBUD MINE, HYCROFT PROVIDES FIRST QUARTER 2023 OPERATING AND FINANCIAL RESULTS, HYCROFT GRANTED 180-DAY EXTENSION BY NASDAQ TO REGAIN COMPLIANCE WITH MINIMUM BID RULE, HYCROFT ANNOUNCES YEAR END 2022 OPERATING AND FINANCIAL RESULTS. Hycroft Mining (NASDAQ: HYMC) is a meme stock now thanks to AMC Entertainment's (NYSE: AMC ) Hycroft was forced to suspend operations and lay off half of its workforce HYMC stock only. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Please. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? American Consumer News, LLC dba MarketBeat 2010-2023. On the date of publication, Thomas Niel did not have (either directly or indirectly) any positions in the securities mentioned in this article. According to the feasibility study, initial CAPEX was estimated at $225 million over the first five years and Hycroft Mine would have a net present value [NPV] of over $2 billion at $1,300 per ounce of gold. Portions of this content may be copyrighted by Fresh Brewed Media, Investors Observer, and/or O2 Media LLC. Traders late to the game could see big losses if they choose to take a chance on it at $2.25 per share. The high production costs will make it tough for the company to profitably extract it. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. This carried on to months end, with the company taking advantage by completing a larger $138.6 million at-the-market equity offering. All rights reserved. Hycroft Mining Holding isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. contact@marketbeat.com I have no business relationship with any company whose stock is mentioned in this article. Copyright 2023. The companys stock has lost about -8.80% over that past 30 days. While the aim is to do better than that, it's worth recalling that even great long-term investments sometimes underperform for a year or more. We track news headlines from hundreds of news outlets and tag them by company. To unlock this exclusive list, simply provide your first name, last name, and email for instant access. Hycroft Mining Stock News and Forecast: HYMC rebounds - FXStreet The tiny miner's stock is up more than 200% as gold and silver prices spike higher. Despite the hype around its initial reserves assessment, the details suggest it wont be able to turn this fact into big profits for investors. Hycroft Stock Price Forecast. These price ends are -3723.53% and -3723.53% off the current price level respectively, although investors could be excited at the prospect of a -3723.53% if the HYMC share price touches on the median price of $13.00. Discover Now. The firm had revenue of $11.47 million for the quarter. They forecast that its stock could drop to $0.000001 by February 2023. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. Get Hycroft Mining News Delivered to You Automatically. Right now, the stock market is bracing for continued volatility. If the dividend or share buyback yield is high - even better. Despite the story, it differs little from other speculative junior mining stocks. A $15.7 trillion tech melt could be triggered as soon as June 14th Now is the time to prepare. View the best growth stocks for 2023 here. Should You Buy HYMC? It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Consider for instance, the ever-present spectre of investment risk. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. Howard Smith has no position in any of the stocks mentioned. This is significantly below the levels from 2021 as grades fell and the ROM operation was shut down in December 2022. In my view, this is the right move as processing sulfidic ore is challenging and the recovery rate in the 2019 feasibility study was likely over-optimistic. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Hycroft Mining ( NASDAQ: HYMC) stock is up a staggering 230% today as gold and silver prices hit multi-year highs amid Russia's ongoing invasion of Ukraine. HYMC shares trade at the depths of the penny stock tables and closed trading in New York yesterday at just 33 cents. In-depth profiles and analysis for 20,000 public companies. Not only that, rounding up the two numbers, I mentioned above, to 15 million ounces (gold) and 600 million ounces (silver). I have no business relationship with any company whose stock is mentioned in this article. Long term indicators on average place the stock in the category of 100% Sell. Analysis of underfollowed microcaps worldwide, plus arbitrage and net-nets. Simply Wall St->. Its gone to the moon in the short-term. The amount for the full year stood at $53.5 million. If it's a value stock - great. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Editor's Note: This article covers one or more microcap stocks. If you have an ad-blocker enabled you may be blocked from proceeding. Thats not all. Is Expedia the Best Bargain in the Travel Bookings Segment? To see all exchange delays and terms of use please see Barchart's disclaimer. Shares short fall in May from the previous month at 12.64 million. Why Hycroft Mining Sank 15% Today | The Motley Fool Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. And with Hycroft Mining ramping up exploration expenses during the year, the loss from operations in Q4 2022 alone came in at $20.4 million. Hycroft Mining (NASDAQ:HYMC) stock is up a staggering 230% today as gold and silver prices hit multi-year highs amid Russias ongoing invasion of Ukraine. Well, opening a small short position seems like a viable idea as data from Fintel shows that the short borrow fee rate stands at 5.79% as of the time of writing. SunCar Technology Stock OverheatsWill it Rise Again? Article printed from InvestorPlace Media, https://investorplace.com/2022/03/why-is-hycroft-mining-hymc-stock-up-today/. (HYMC), Mudrick Capital Management Now Owns 7.50% of Hycroft Mining Holding (HYMC), Hycroft Mining Drills 55 Meters of 396.93 g/t Silver In Vortex, AMCs APE conversion a massive opportunity to wipe out debt and drive expansion, says analyst, Hycroft Mining Holding Co. (NASDAQ:HYMC) Major Shareholder Sells $162,631.78 in Stock, Mudrick Capital Management, L. Sells 306,391 Shares of Hycroft Mining Holding Co. (NASDAQ:HYMC) Stock, Insider Selling: Hycroft Mining Holding Co. (NASDAQ:HYMC) Major Shareholder Sells 500,000 Shares of Stock, Hycroft Mining Holding Co. (NASDAQ:HYMC) Short Interest Update, Hycroft Mining Holding Third Quarter 2022 Earnings: US$0.08 loss per share (vs US$0.39 loss in 3Q 2021), HYCROFT PROVIDES THIRD QUARTER 2022 OPERATING AND FINANCIAL RESULTS, Hycroft Mining Holding Corporation (HYMCL), 21%of this Hycroft Mining Holding Corporation (NASDAQ:HYMC) insider's holdings were sold in the last year, AMC Stock News: AMC Entertainment tumbles as Hycroft investment looks to be a bust, Short Interest in Hycroft Mining Holding Co. (NASDAQ:HYMC) Rises By 40.5%, HYCROFT MINING ANNOUNCES NEW WEBSITE AND FIRST FULLY INTERACTIVE VIRTUAL SITE TOUR WITH VRIFY, Short Interest in Hycroft Mining Holding Co. (NASDAQ:HYMC) Rises By 12.5%, Eureka! per share today, its held onto most of its recent meme gains. See how EV demand could create new opportunities. What it doesnt do is make it an investable situation. Turning our attention to the 2022 production results, Hycroft Mine produced a total of 14,032 ounces of gold and 37,281 ounces of silver in 2022. Like I discussed in an article last month on AMC stock, Hycrofts reserves are of the hard-to-reach variety. Is this happening to you frequently? Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.coms writers disclose this fact and warn readers of the risks. (Hint: insiders have been buying them). Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. Hycroft Mining is a tiny mining company with a market capitalization under $100 million and operations in Nevada. Hycroft Mining Stock Forecast, Price & News (NASDAQ:HYMC) - MarketBeat Get short term trading ideas from the MarketBeat Idea Engine. Why Is Hycroft Mining (HYMC) Stock Up Today? | Markets Insider All rights reserved. That said, while its an interesting situation, is it an investment opportunity worth pursuing? Required fields are marked *. So, whats the best move here? HYMC News Today | Why did Hycroft Mining stock go down today? Lithium is ideal for electric cars. Todays 200%-plus rise in HYMC stock illustrates how quickly investors are stampeding into shares of mining companies, even small producers such as Hycroft Mining. Analysts Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Vous pouvez modifier vos choix tout moment en cliquant sur les liens Paramtres de confidentialit et des cookies ou Tableau de bord sur la confidentialit prsents sur nos sites et dans nos applications. BREAKING: Tiny biotech successfully treats blindness. Looking at the future, Hycroft Mining plans to complete 5,000 meters of RC drilling and 3,500 of core drilling in 2023 as well as finalize PFS economics. Hycroft Mining Is an Interesting Story, But Not a Great Opportunity Yet with the release of a initial assessment of its mineral reserves, the situation with HYMC stock became a lot more interesting. Forsaken Value and Yield members get exclusive access to our real-world portfolio.
Intellectual Ventures Mosquito Laser, Toddler Pillowcase 40x60, Poly Voyager Focus 2 Uc Manual, Articles W