Hycroft Mining (NASDAQ:HYMC) Major Shareholder Eric Sprott Buys 2,340,824 Shares

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott acquired 2,340,824 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were bought at an average cost of $10.30 per share, with a total value of $24,110,487.20. Following the transaction, the insider directly owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. The trade was a 8.63% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Eric Sprott also recently made the following trade(s):

• On Thursday, November 13th, Eric Sprott bought 500,000 shares of Hycroft Mining stock. The shares were purchased at an average cost of $9.41 per share, for a total transaction of $4,705,000.00.
• On Tuesday, November 11th, Eric Sprott purchased 500,000 shares of Hycroft Mining stock. The stock was purchased at an average cost of $8.07 per share, with a total value of $4,035,000.00.
• On Tuesday, October 14th, Eric Sprott acquired 7,690,000 shares of Hycroft Mining stock. The stock was purchased at an average price of $6.50 per share, with a total value of $49,985,000.00.
• On Wednesday, September 10th, Eric Sprott acquired 9,344,704 shares of Hycroft Mining stock. The shares were purchased at an average cost of $4.28 per share, for a total transaction of $39,995,333.12.

Hycroft Mining Stock Performance

Shares of NASDAQ HYMC opened at $11.45 on Friday. The business has a fifty day simple moving average of $8.54 and a 200 day simple moving average of $5.60. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $927.11 million, a price-to-earnings ratio of -7.07 and a beta of 2.71. Hycroft Mining Holding Corporation has a one year low of $1.99 and a one year high of $12.50.

Hycroft Mining (NASDAQ:HYMC) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research note on Wednesday, October 8th. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Hycroft Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Hycroft Mining by 166.6% in the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after acquiring an additional 2,537 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in Hycroft Mining during the 3rd quarter valued at $96,000. Virtu Financial LLC raised its position in Hycroft Mining by 20.3% in the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after purchasing an additional 2,700 shares during the last quarter. XTX Topco Ltd bought a new position in Hycroft Mining in the 2nd quarter valued at $101,000. Finally, Jane Street Group LLC acquired a new position in Hycroft Mining in the first quarter worth $124,000. 7.38% of the stock is currently owned by institutional investors and hedge funds.

About Hycroft Mining

Hycroft Mining Holding Corporation, together with its subsidiaries, operates as a gold and silver development company in the United States. The company holds interests in the Hycroft mine that consists of 30 private parcels with patented claims comprising approximately 1,787 acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres located in the state of Nevada.