Hycroft Mining (NASDAQ:HYMC) Trading Up 7.9% – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price was up 7.9% during mid-day trading on Monday . The company traded as high as $40.98 and last traded at $40.91. Approximately 666,257 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 4,916,079 shares. The stock had previously closed at $37.93.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Hycroft Mining Trading Up 2.2%

The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -23.76 and a beta of 2.58. The firm has a fifty day simple moving average of $39.94 and a 200-day simple moving average of $20.62.

Insiders Place Their Bets

In related news, SVP David Brian Thomas sold 15,000 shares of Hycroft Mining stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $21.21, for a total value of $318,150.00. Following the completion of the sale, the senior vice president directly owned 81,070 shares in the company, valued at $1,719,494.70. This trade represents a 15.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Eric Sprott acquired 100,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were purchased at an average cost of $47.58 per share, with a total value of $4,758,000.00. Following the completion of the acquisition, the insider directly owned 37,003,704 shares in the company, valued at approximately $1,760,636,236.32. The trade was a 0.27% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 1,945,000 shares of company stock valued at $57,389,250. 1.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HYMC. Vanguard Group Inc. raised its stake in shares of Hycroft Mining by 150.2% during the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after buying an additional 1,702,288 shares during the last quarter. Franklin Resources Inc. bought a new position in Hycroft Mining in the fourth quarter valued at approximately $39,815,000. Tidal Investments LLC grew its holdings in Hycroft Mining by 125.3% during the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after acquiring an additional 871,030 shares during the period. Schroder Investment Management Group acquired a new stake in Hycroft Mining during the 4th quarter worth $36,366,000. Finally, UBS Group AG raised its position in shares of Hycroft Mining by 5.4% during the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after acquiring an additional 51,126 shares during the last quarter. Institutional investors own 7.38% of the company’s stock.

About Hycroft Mining

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.