Eric Sprott Purchases 7,690,000 Shares of Hycroft Mining (NASDAQ:HYMC) Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott bought 7,690,000 shares of the business’s stock in a transaction dated Tuesday, October 14th. The stock was bought at an average cost of $6.50 per share, for a total transaction of $49,985,000.00. Following the completion of the purchase, the insider owned 25,225,528 shares of the company’s stock, valued at approximately $163,965,932. The trade was a 43.85% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, September 10th, Eric Sprott purchased 9,344,704 shares of Hycroft Mining stock. The stock was purchased at an average price of $4.28 per share, for a total transaction of $39,995,333.12.

Hycroft Mining Stock Performance

NASDAQ:HYMC opened at $7.80 on Friday. The firm has a market cap of $605.75 million, a P/E ratio of -3.92 and a beta of 2.51. Hycroft Mining Holding Corporation has a fifty-two week low of $1.99 and a fifty-two week high of $9.75. The firm has a 50-day simple moving average of $5.69 and a two-hundred day simple moving average of $4.15.

Institutional Investors Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC bought a new stake in shares of Hycroft Mining during the second quarter valued at approximately $141,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Hycroft Mining during the 1st quarter worth approximately $136,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Hycroft Mining by 33.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,991 shares of the company’s stock valued at $1,922,000 after purchasing an additional 154,095 shares during the period. Shay Capital LLC raised its stake in shares of Hycroft Mining by 100.2% during the second quarter. Shay Capital LLC now owns 246,627 shares of the company’s stock valued at $772,000 after acquiring an additional 123,453 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after buying an additional 3,146 shares during the period. 7.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Hycroft Mining Company Profile

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.