Market News Daily – Analyst Predicts HYMC Stock to Soar 3,200% This Year.
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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Market News Today – Analyst Predicts HYMC Stock to Soar 3,200% This Year.
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Market News Daily – Hycroft (HYMC) Is Now Owned by 77% of Retail | HYMC retail ownership.
What percent of retail investors now own Hycroft Mining Holding Corporation (NASDAQ:HYMC)?
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.
Statements
Alex Davidson, Vice President, Exploration made the following statement:
“The initial drilling campaign has focused on higher-grade opportunities primarily in the Brimstone, Vortex, and Central zones.
All 20 RC drill holes reported to date have returned ore grade mineralization, of which 14 holes have outperformed the model resulting in higher grades than previously estimated or known.
The results to date are very exciting as we established continuity between the higher-grade zones along structures.
In addition, we continue to enhance the project economics through in-fill drilling that have demonstrated mineralization in areas previously considered to be waste.”
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.”
Latest HYMC Stock News
The company seems rather confident where they stand in 2023.
On Wednesday, CEO Diane Garrett said on Twitter, “with a measured & indicated resource of over 10M ounces of gold and 360M of silver, $142M in cash, a successful and ongoing drill program, and engineering studies nearing the final stage, @HycroftMining is well-positioned to deliver value for our shareholders!”
With a measured & indicated resource of over 10M ounces of gold and 360M of silver, $142M in cash, a successful and ongoing drill program, and engineering studies nearing the final stage, @HycroftMining is well-positioned to deliver value for our shareholders! pic.twitter.com/FMjjBp0tGn
Hycroft (HYMC) has also been selling collectible coins, gold bars, and merchandise to investors which has also contributed to the company’s revenue.
Wow! We knew many of you wanted @HycroftMining gear, but this overwhelming demand has blown us away. Thank you for your support!
Don’t worry, we’ll have more silver coins and gold bar paperweights back in stock soon so that everyone can get a piece of this special opportunity. pic.twitter.com/6KygpIo34h
The performance of so called ‘meme stocks’ will be updated every week below. The latest news will also be available for your reading pleasure.
Optin for push notifications or join the newsletter to receive a weekly reminder straight to your inbox.
Here’s how meme stocks performed for the week of: 2/27-3/3
Here’s how meme stocks performed this week: GameStop (GME).
#1. GameStop
GameStop Corp. (NYSE:GME) closed: up -4.79% this past trading week.
The latest press release details the retailer’s earnings for the third quarter of fiscal year 2022.
During that period, GameStop reported net sales of $1.186 billion, down from $1.297 billion a year ago.
Gross profit tallied in at $291.6 million, while selling, general and administrative expenses were $387.9 million.
That led to a net loss of $94.7 million compared to a net loss of $105.4 million the previous year.
According to an amended Schedule 13G filing, Vanguard owns a total of 24.66 million shares of GME as of Dec. 30, equivalent to an 8.1% ownership stake.
As of Q3, the firm owned 24.16 million shares, meaning it purchased about a half a million shares during Q4.
Here’s how meme stocks performed this week: AMC Entertainment (AMC).
#2. AMC Entertainment
AMC Entertainment Holdings, Inc. (NYSE:AMC) closed the week: up +4.28% this past trading week.
In recent news, AMC and its board members, including CEO Adam Aron, are getting sued by a pension fund.
The latest lawsuit comes from the issuance of AMC’s preferred equity, APE.
The shareholder vote to either convert APE equity back into common AMC shares or go through a reverse stock split has been delayed — though Adam Aron has not made an official statement yet.
Here’s how meme stocks performed this week: Bed Bath & Beyond (BBBY).
#4. Bed Bath & Beyond
Shares of Bed Bath & Beyond (NASDAQ:BBBY) were: down -5.04% in the past trading week.
On social media, shareholders of the so called ‘meme stock’ continue to buy the stock despite talks of bankruptcy.
The company edged closer to a bankruptcy filing in late January after the retailer said it had received a default notice from JPMorgan Chase & Co., its loan agent, and warned it didn’t have enough funds to make payments.
Creditors are demanding immediate repayment of the company’s debt after it breached the terms of a credit line, according to a regulatory filing Thursday, per Bloomberg.
“Generally, in situations like this where a company defaults on their loan agreement our experience is, if they don’t come to an agreement with their lenders, the likelihood of a bankruptcy filing within the next 30 days is relatively high,” said Dennis Cantalupo, chief executive officer of Pulse Ratings, a credit-rating and consulting firm.
BBBY stock is up +1.73% this year-to-date.
#5. Hycroft Mining Holding Corporation
Shares of Hycroft Mining (NASDAQ:HYMC): rose +0.86% in the past week.
The mining company’s stock is down more than -28% this year-to-date.
Shares rose to $0.57 from a previous low of $0.44.
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.
AMC acquired a 22% stake in the silver and gold mining company in 2022 when they received 23.4 million warrants in Hycroft at $1.07 per share.
The stock at the time surged to $1.70 after trading at $0.60 earlier that same year.
More updates coming soon
This page will get updated every week with news, performance, and updates.
Readers are receiving updates like this from various stocks and news daily via push notifications or from the newsletter.
Are you holding any of these ‘meme stocks’?
Leave your thoughts on this week’s performance or ideas on how to make this page better down in the comment section.
Franknez.com is the media blog that keeps retail investors informed.
Stock Market 2023: Top stocks outperforming the SPY.
AMC Entertainment (NYSE:AMC) stock continues to be one of the biggest ‘meme stocks’ even after its massive debut in 2021 when shares rose from $2.50 to $72 later that year.
The stock, at the publication of this article, is trading at $6.08, the same share price it was two years ago before gaining serious traction.
AMC Entertainment continues to improve its fundamentals and remains the #1 leader in the movie theatre industry.
While online streaming has grown to become quite popular, especially during the pandemic, experts are beginning to weigh in on AMC’s side in 2023.
CNBC stated, “Netflix has backtracked on its previous policies, including by introducing an ad-supported subscription option, leading many to wonder whether the company should rethink its resistance to the traditional Hollywood movie release model as it looks for new ways to grow revenue.“
Even Amazon associates who asked not to be identified, per Bloomberg News, are stating the company plans to invest $1 billion per year in the movie theatre industry.
The world’s largest online retailer aims to make between 12 and 15 movies annually that will get a theatrical release.
“While a $1 billion annual investment for film development is on the lower end of what major Hollywood studios spend each year, it’s a positive sign for the movie theater business, which has struggled in the wake of the pandemic”, said CNBC.
Peloton Interactive, Inc. (NASDAQ:PTON) is an American exercise equipment and media company based in New York City.
The company’s products are stationary bicycles, treadmills, indoor rowers equipped with Internet-connected touch screens that stream live and on-demand fitness classes through a subscription service.
Company shares are up +109.11% year-to-date.
Peloton recently brought Leslie Berland, Twitter’s former marketing head, as its next chief marketing officer, per Bloomberg news reports.
She previously helped lead American Express for 10 years.
Peloton is trying to shift the tides after a rough 2022, when its stock dropped more than 75%.
The company in November posted wider losses than analysts expected for its first fiscal quarter.
Berland said in an announcement that she is “thrilled” to join the company at this “unique moment in its transformation journey.”
Stock Market 2023: Top stocks outperforming the SPY.
Tesla Inc. (NASDAQ:TSLA) had one of its worst years yet in 2022.
However, the company stock is outperforming the market today already gaining +74.16% in gains this year-to-date.
Tesla CEO Elon Musk sold 22 million shares of the company last year cashing in approximately $3.6 billion earlier in December according to this SEC filing.
After the massive selloff, Elon said during a Twitter space call that he will not sell any Tesla shares for about two years.
Musk said he sees a ‘serious’ recession in 2023 and is preparing for a worst-case scenario.
And although experts are saying a recession is likely to strike the U.S. economy during the first quarter of 2023, the company stock seems to be performing quite well today.
Shares of Hycroft Mining (NASDAQ:HYMC) rose 25% earlier this year when the company announced it had discovered more gold and silver than it had anticipated.
Majority of the company is owned by AMC Entertainment.
