Hycroft Mining (NASDAQ:HYMC) Reaches New 52-Week High Following Insider Buying Activity

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

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

Analyst Upgrades and Downgrades

HYMC has been the subject of a number of recent research reports. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hycroft Mining Price Performance

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

Hycroft Mining (NASDAQ:HYMC) last issued 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.

Institutional Investors Weigh In On Hycroft Mining

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after buying an additional 2,537 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of Hycroft Mining during the third quarter worth $96,000. Virtu Financial LLC grew its stake in shares of Hycroft Mining by 20.3% in the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after purchasing an additional 2,700 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Hycroft Mining in the second quarter worth $101,000. Finally, Jane Street Group LLC acquired a new stake in Hycroft Mining in the first quarter valued at $124,000. Institutional investors and hedge funds 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.