An analyst is predicting Hycroft Mining (NASDAQ:HYMC) stock to soar more than 3,233% within a 12-month period.
HYMC stock is currently down more than -28% this year-to-date and is trading at $0.39 per share.
One analyst is offering a 12-month price forecasts for Hycroft Mining Holding Corporation with a median target of $13.00, a high estimate of $13.00 and a low estimate of $13.00.
The median estimate represents a +3,275.75% increase from Tuesday’s price of $0.39.
The current consensus among 1 polled investment analysts is to hold shares in Hycroft Mining Holding Corporation.
This rating has held steady since November, when it was downgraded from a buy rating.
Shareholders may feel convicted in their current investment with the latest HYMC price forecast.
If you’re new to the investment or are thinking buying, tread lightly.
Analysts were giving Mullen Automotive stock a 7,000% prediction for the year, but the stock has yet to see any gains since its forecast.
Latest HYMC Stock Updates
The silver and gold mine company reports that 77.2% of the company is now owned by retail investors, a result of AMC Entertainment taking a 22% stake in the company last year.
But retail investors have bought up shares in the past year now becoming the dominant stakeholder in Hycroft.
AMC Entertainment now has 11.7% ownership, while Hyrcoft reports Eric Sprott, billionaire and precious metals investor holds a 9.2% stake.
Mudrick Capital, known for their contrarian investing, holds the least ownership at 1.9%.
In December of 2022, news surfaced that the company had discovered more gold, and more silver than anticipated.
AMC CEO Adam Aron made the exciting announcement on Twitter stating, “so far ALL 20 of the newly drilled bores contained gold/silver, and 14 of the 20 showed higher grades than previously known to Hycroft.
Diane R. Garrett, President & CEO said the second phase of the drill program will continue through the first half of 2023.
“Once permits are received, we will be stepping out beyond the known resource area and drilling prospective high-grade targets identified within our vast land position.”
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