Insider Buying: Hycroft Mining (NASDAQ:HYMC) Major Shareholder Acquires 400,000 Shares of Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott purchased 400,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was acquired at an average cost of $22.70 per share, with a total value of $9,080,000.00. Following the purchase, the insider owned 31,456,352 shares of the company’s stock, valued at approximately $714,059,190.40. This represents a 1.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, December 26th, Eric Sprott bought 200,000 shares of Hycroft Mining stock. The shares were purchased at an average cost of $24.93 per share, with a total value of $4,986,000.00.
• On Wednesday, December 24th, Eric Sprott bought 100,000 shares of Hycroft Mining stock. The shares were acquired at an average price of $24.79 per share, with a total value of $2,479,000.00.
• On Friday, December 19th, Eric Sprott bought 150,000 shares of Hycroft Mining stock. The stock was bought at an average price of $16.31 per share, for a total transaction of $2,446,500.00.
• On Wednesday, December 17th, Eric Sprott bought 220,000 shares of Hycroft Mining stock. The shares were bought at an average cost of $14.60 per share, for a total transaction of $3,212,000.00.
• On Monday, December 15th, Eric Sprott bought 200,000 shares of Hycroft Mining stock. The shares were bought at an average cost of $13.02 per share, with a total value of $2,604,000.00.
• On Friday, December 12th, Eric Sprott purchased 40,000 shares of Hycroft Mining stock. The stock was bought at an average price of $13.30 per share, with a total value of $532,000.00.
• On Thursday, December 11th, Eric Sprott purchased 120,000 shares of Hycroft Mining stock. The stock was bought at an average cost of $12.36 per share, for a total transaction of $1,483,200.00.
• On Wednesday, December 10th, Eric Sprott acquired 60,000 shares of Hycroft Mining stock. The shares were bought at an average price of $11.64 per share, for a total transaction of $698,400.00.
• On Tuesday, December 9th, Eric Sprott acquired 300,000 shares of Hycroft Mining stock. The shares were purchased at an average cost of $11.74 per share, with a total value of $3,522,000.00.
• On Wednesday, December 3rd, Eric Sprott bought 2,340,824 shares of Hycroft Mining stock. The stock was purchased at an average price of $10.30 per share, with a total value of $24,110,487.20.

Hycroft Mining Stock Up 0.9%

NASDAQ:HYMC traded up $0.22 during trading hours on Tuesday, hitting $23.48. 3,994,304 shares of the stock traded hands, compared to its average volume of 1,005,844. Hycroft Mining Holding Corporation has a fifty-two week low of $2.00 and a fifty-two week high of $29.80. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -14.49 and a beta of 2.71. 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 firm has a 50 day moving average price of $11.86 and a 200 day moving average price of $7.23.

Hycroft Mining (NASDAQ:HYMC) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.02.

Hedge Funds Weigh In On Hycroft Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of Hycroft Mining by 166.6% during the third 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 in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Hycroft Mining during the 3rd quarter worth approximately $96,000. Virtu Financial LLC increased its holdings in Hycroft Mining by 20.3% during the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after purchasing an additional 2,700 shares in the last quarter. XTX Topco Ltd acquired a new stake in Hycroft Mining during the 2nd quarter valued at $101,000. Finally, BNP Paribas Financial Markets raised its position in Hycroft Mining by 5,537.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 32,413 shares of the company’s stock valued at $201,000 after purchasing an additional 31,838 shares during the last quarter. 7.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HYMC has been the subject of several research reports. Wall Street Zen raised 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 MarketBeat.com, Hycroft Mining presently has an average rating of “Sell”.

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.