Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Should You Buy?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped up before the market opened on Monday . The stock had previously closed at $16.42, but opened at $20.94. Hycroft Mining shares last traded at $25.7170, with a volume of 3,486,140 shares changing hands.

Wall Street Analysts Forecast Growth

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

Hycroft Mining Price Performance

The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The company’s 50 day moving average is $9.85 and its 200-day moving average is $6.35. The stock has a market cap of $2.05 billion, a PE ratio of -15.71 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMC) last announced its earnings results 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 Activity at Hycroft Mining

In related news, major shareholder Eric Sprott purchased 7,690,000 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The stock was acquired at an average price of $6.50 per share, with a total value of $49,985,000.00. Following the completion of the transaction, the insider owned 25,225,528 shares of the company’s stock, valued at $163,965,932. This represents a 43.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders purchased 11,970,824 shares of company stock worth $94,887,087. Corporate insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Hycroft Mining by 11.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock valued at $1,490,000 after purchasing an additional 47,385 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Hycroft Mining in the 1st quarter valued at approximately $124,000. Clear Harbor Asset Management LLC bought a new position in Hycroft Mining during the second quarter worth $141,000. Timelo Investment Management Inc. acquired a new position in Hycroft Mining in the second quarter worth $470,000. Finally, Geode Capital Management LLC increased its stake in Hycroft Mining by 1.4% during the second quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after purchasing an additional 3,146 shares during the last quarter. 7.38% of the stock is owned by institutional investors and hedge funds.

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.