Hycroft Mining (NASDAQ:HYMC) Shares Up 9.4% – Here’s What Happened

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) shot up 9.4% during mid-day trading on Wednesday . The company traded as high as $8.82 and last traded at $8.86. 745,380 shares changed hands during trading, an increase of 16% from the average session volume of 642,799 shares. The stock had previously closed at $8.10.

Analyst Upgrades and Downgrades

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

Hycroft Mining Stock Performance

The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87. The company’s fifty day moving average price is $6.91 and its 200 day moving average price is $4.72. The company has a market cap of $734.40 million, a PE ratio of -5.60 and a beta of 2.47.

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

Insider Buying and Selling at Hycroft Mining

In other news, SVP Rebecca Jennings sold 30,084 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $6.57, for a total transaction of $197,651.88. Following the completion of the sale, the senior vice president directly owned 100,024 shares of the company’s stock, valued at $657,157.68. This trade represents a 23.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP David Brian Thomas sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $7.39, for a total transaction of $147,800.00. Following the completion of the transaction, the senior vice president directly owned 96,070 shares in the company, valued at $709,957.30. This trade represents a 17.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

A number of hedge funds have recently modified their holdings of HYMC. LM Asset IM Inc. purchased a new position in shares of Hycroft Mining during the 2nd quarter valued at $1,189,000. Vanguard Group Inc. increased its holdings in Hycroft Mining by 18.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,133,290 shares of the company’s stock worth $7,026,000 after acquiring an additional 179,050 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Hycroft Mining by 33.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,991 shares of the company’s stock valued at $1,922,000 after acquiring an additional 154,095 shares during the period. Timelo Investment Management Inc. purchased a new stake in Hycroft Mining during the second quarter valued at about $470,000. Finally, Shay Capital LLC boosted its position in Hycroft Mining by 100.2% during the second quarter. Shay Capital LLC now owns 246,627 shares of the company’s stock worth $772,000 after purchasing an additional 123,453 shares during the period. Institutional investors own 7.38% of the company’s stock.

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.