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Hycroft Mining Holding Corporation (NASDAQ: HYMC) Declined -1.90%, What’s Next? Don’t Panic

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares, rose in value on Wednesday, 08/03/22, with the stock price down by -1.90% to the previous day’s close as strong demand from buyers drove the stock to $1.03.

Actively observing the price movement in the last trading, the stock closed the session at $1.05, falling within a range of $1.00 and $1.05. The value of beta (5-year monthly) was 1.91. Referring to stock’s 52-week performance, its high was $3.10, and the low was $0.28. On the whole, HYMC has fluctuated by 1.98% over the past month.

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With the market capitalization of Hycroft Mining Holding Corporation currently standing at about $191.40 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 22, 2022 – Mar 28, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0, which is expected to increase to -$0.01 for fiscal year -$0.13 and then to about -$0.03 by fiscal year 2023. Data indicates that the EPS growth is expected to be 91.10% in 2023, while the next year’s EPS growth is forecast to be 76.90%.

According to the average forecast, sales growth in current quarter could jump down -51.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $2.7 million, representing a decrease of -97.60% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that HYMC’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of HYMC currently trading nearly 0.18% and -12.83% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.87, while the 7-day volatility ratio is showing 8.79% which for the 30-day chart, stands at 7.50%. Furthermore, Hycroft Mining Holding Corporation (HYMC)’s beta value is 1.77, and its average true range (ATR) is 0.08.

Data on historical trading for Hycroft Mining Holding Corporation (NASDAQ:HYMC) indicates that the trading volumes over the past 10 days have averaged 3.24 million and over the past 3 months, they’ve averaged 8.59 million. According to company’s latest data on outstanding shares, there are 81.20 million shares outstanding.

Nearly 1.10% of Hycroft Mining Holding Corporation’s shares belong to company insiders and institutional investors own 17.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.87 million shares as on Jul 14, 2022, resulting in a short ratio of 0.87. According to the data, the short interest in Hycroft Mining Holding Corporation (HYMC) stood at 2.98% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 3.84 million. The stock has risen by 67.83% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HYMC stock heading into the next quarter.

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