Ahead of its first quarter results, the HYMC stock seems like it is trying to move upwards in its price analysis chart.HYMC stock price has shown an overall bearish outlook, but in recent 2-days the stock has noted almost 5% gain. Meanwhile, the all-time stock performance is bearish, stating that the stock is quite weak. Still, the recent price gain creates little hope ahead of its Q1 results that the stock may gain price in coming days. However, this would need quite good bulls volume in the market.
Earlier this year, the stock was trading almost at $0.55 and till date the stock has noted its highest price at $0.71 in mid of January.
Hycroft Mining Holding Corporation (NASDAQ: HYMC) released its Q1 operating and financial results on May 2nd. This is a U.S.-based gold and silver development company that owns the Hycroft mine. HYMC EPS for Q1 2023 are $-0.07 whereas the estimation was $-0.01 which accounts for -600.00% surprise. Meanwhile, the estimated earnings for the next quarter are $-0.06, and revenue is expected to reach $1.00 Million.
Hycroft Mining Holding Corporation revenue for the last year amounted to $33.23 Million, the most of which — $33.23 Million — came from its highest performing source at the moment, Hycroft Mine, the year earlier bringing $110.73 Million. The greatest contribution to the revenue figure was made by the United States — last year it brought Hycroft Mining Holding Corporation $33.23 Million, and the year before that — $110.73 Million.
HYMC Stock Price Analysis
According to the data sourced from Tradingview, HYMC stock closed at $0.40 on May 3rd, yesterday’s trading session with almost 4% of price gain. Yesterday, the stock opened at $0.40 price and marked high at $0.42 while low was at $0.39. Its 52-week high was at $1.89 while 52-week low was at $0.31 that is near to its recent closing price.
The stock dropped almost 27% in its year-to-date price analysis. As the recent closing price was near to its 52-week low thus the stock highly demands to take a bounce and at least reach its 50-day EMA soon. This would need dominance of bulls in the market, but as per the recent price performance of HYMC stock, the volume is quite low.
Source: HYMC/USD by TradingviewHowever, the RSI of HYMC stock is heading upward. The pre-market price shows that the stock touched its 20-day EMA, still requiring more potential of bulls in the market to reach at the 50-day EMA.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
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