HYCROFT MINING HOLDING CORP (NASDAQ:HYMC) President & CEO Diane R. Garrett has recently sold shares of the company stock, according to the latest SEC filings. The transactions, which occurred on multiple dates, resulted in a total sale value of over $32,000.
On March 25, 2024, Garrett sold 1,498 shares at an average price of $2.16 per share. Subsequently, on April 25, she sold 7,783 shares at a higher average price of $3.76 per share. These sales combined amounted to a total of $32,499. The filings indicate that the sales were executed to facilitate the payment of taxes related to vested restricted stock units (RSUs) that were converted to common stock.
Following these transactions, Garrett still holds a significant amount of Hycroft Mining stock. As of the latest transaction date, she owns 203,262 shares directly, with an additional 800 shares held indirectly through a spouse's IRA. It's also noted that a portion of her holdings includes unvested RSUs, which are subject to continued employment with the company.
In addition to the sales, the SEC report also revealed that Garrett was awarded 60,000 RSUs on May 23, 2024, which have no immediate financial value until vested and converted to common stock. The vesting schedule is spread over three years, with a portion vesting each year, contingent upon her continued service with Hycroft Mining.
Investors may find this information relevant as executive transactions are often closely watched for indications of an insider's belief in the company's future performance. Garrett's recent sales and the details surrounding them are now publicly accessible for shareholders' consideration.
Hycroft Mining Holding Corp, incorporated in Delaware and headquartered in Winnemucca, Nevada, operates in the gold and silver ores industry. The company has undergone changes in the past, including a name change from Mudrick Capital Acquisition Corp to its current name.
InvestingPro Insights
As Hycroft Mining Holding Corp (NASDAQ:HYMC) navigates through its operational and financial challenges, data from InvestingPro provides a clearer picture of the company's current situation. With a market capitalization of $85.24 million, the company is relatively small in size, which can often lead to higher volatility in stock performance. The recent sales by CEO Diane R. Garrett may raise questions among investors, especially considering the company's financial metrics.
InvestingPro data highlights that Hycroft Mining's Price to Earnings (P/E) ratio stands at a negative -1.26, with a slightly adjusted P/E ratio for the last twelve months as of Q1 2024 at -1.32, reflecting the company's lack of profitability in the recent period. Moreover, the company's Gross Profit for the same timeframe is reported at a negative $33.22 million, and its Operating Income is also in the negative at $48.41 million, emphasizing the financial difficulties the company faces.
However, it's not all bleak for Hycroft Mining. The company has seen a strong return over the last three months, with a 93.19% price total return, and a notable price uptick over the last six months at 69.27%, which could signal investor optimism about the company's future prospects. Additionally, one of the InvestingPro Tips points out that Hycroft Mining's liquid assets exceed its short-term obligations, suggesting that the company is in a position to cover its immediate liabilities.
Investors considering Hycroft Mining as a potential investment should note that there are 11 additional InvestingPro Tips available, which could provide further insights into the company's financial health and future performance. For those looking to dive deeper, using the coupon code PRONEWS24 can secure an extra 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, offering a comprehensive analysis of the company's financials and market position.
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