Hycroft Mining (NASDAQ:HYMC) Reaches New 1-Year High on Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price hit a new 52-week high during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as $31.81 and last traded at $31.64, with a volume of 1293121 shares. The stock had previously closed at $27.13.

Specifically, major shareholder Eric Sprott purchased 25,000 shares of Hycroft Mining stock in a transaction on Friday, January 9th. The shares were purchased at an average price of $27.05 per share, for a total transaction of $676,250.00. Following the transaction, the insider owned 31,581,352 shares of the company’s stock, valued at approximately $854,275,571.60. This represents a 0.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Eric Sprott acquired 100,000 shares of the stock in a transaction dated Thursday, January 8th. The shares were bought at an average price of $26.08 per share, with a total value of $2,608,000.00. Following the completion of the transaction, the insider directly owned 31,556,352 shares of the company’s stock, valued at $822,989,660.16. The trade was a 0.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Hycroft Mining has an average rating of “Sell”.

Hycroft Mining Trading Up 16.3%

The firm’s 50-day moving average price is $15.22 and its 200 day moving average price is $8.69. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -19.48 and a beta of 2.64. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83.

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

Hedge Funds Weigh In On Hycroft Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC grew its stake in shares of Hycroft Mining by 125.3% in the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after buying an additional 871,030 shares during the period. UBS Group AG boosted its holdings in Hycroft Mining by 711.9% in the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock worth $5,859,000 after acquiring an additional 828,625 shares in the last quarter. LM Asset IM Inc. acquired a new stake in Hycroft Mining in the second quarter valued at approximately $1,189,000. Millennium Management LLC acquired a new stake in Hycroft Mining in the third quarter valued at approximately $2,193,000. Finally, Two Sigma Investments LP increased its holdings in shares of Hycroft Mining by 328.7% during the third quarter. Two Sigma Investments LP now owns 387,375 shares of the company’s stock valued at $2,402,000 after acquiring an additional 297,007 shares in the last quarter. Institutional investors own 7.38% of the company’s stock.

Hycroft Mining Company Profile

Hycroft Mining PLC is a precious metals company focused on the exploration, development and operation of the Hycroft Mine, a large oxide gold and silver deposit in northwestern Nevada. The company’s primary activities include open-pit mining, heap leach extraction and carbon adsorption/desorption processing designed to recover gold and silver from crushed ore. Hycroft’s technical team employs conventional mining methods and metallurgical processes to advance resource conversion and optimize recovery rates.

Located on approximately 28,800 hectares in Humboldt County, Nevada, the Hycroft Mine ranks among the largest undeveloped oxide gold-silver deposits in North America.