Stanton K. Rideout, Executive Vice President and CFO of Hycroft Mining Holding Corp (NASDAQ:HYMC), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Rideout sold 1,136 shares of Class A common stock on October 23, 2024, at a weighted average price of $2.79 per share, resulting in total proceeds of $3,169. This transaction was executed to facilitate the payment of taxes related to vested restricted stock units that were converted to shares of common stock. Following the sale, Rideout retains ownership of 148,059 shares, of which 98,491 are unvested restricted stock units.
InvestingPro Insights
To provide additional context to Stanton K. Rideout's recent stock sale, it's worth examining some key financial metrics and insights from InvestingPro for Hycroft Mining Holding Corp (NASDAQ:HYMC).
As of the latest data, HYMC has a market capitalization of $61.98 million, reflecting its current valuation in the market. The company's stock price has shown some volatility, with a 1-year price total return of -12.52% as of the most recent data. However, it's important to note that the stock has seen a modest year-to-date price total return of 8.98%.
InvestingPro Tips highlight some challenges facing the company. One tip indicates that HYMC is "quickly burning through cash," which could be a concern for investors considering the company's financial stability. Additionally, the company "suffers from weak gross profit margins," which may impact its profitability potential.
These insights align with the financial data showing a negative gross profit of -$32.64 million for the last twelve months as of Q2 2024. The company's operating income and EBITDA are also in negative territory, at -$49.98 million and -$46.17 million respectively for the same period.
Despite these challenges, it's worth noting that HYMC's liquid assets exceed its short-term obligations, which could provide some financial flexibility in the near term.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for HYMC, providing a deeper understanding of the company's financial position and market performance.
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