Hycroft Mining (NASDAQ:HYMC) Stock Price Up 12.1% – Here’s What Happened

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) rose 12.1% during trading on Monday . The company traded as high as $38.85 and last traded at $38.76. Approximately 3,521,324 shares were traded during trading, a decline of 37% from the average daily volume of 5,623,100 shares. The stock had previously closed at $34.59.

Analysts Set New Price Targets

HYMC has been the subject of a number of recent analyst reports. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hycroft Mining currently has an average rating of “Sell”.

Hycroft Mining Trading Up 12.1%

The business has a 50 day moving average of $27.69 and a 200-day moving average of $13.89. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04.

Insider Activity

In related news, major shareholder Eric Sprott acquired 2,340,824 shares of Hycroft Mining stock in a transaction on Wednesday, December 3rd. The stock was purchased at an average cost of $10.30 per share, with a total value of $24,110,487.20. Following the purchase, the insider directly owned 29,466,352 shares in the company, valued at approximately $303,503,425.60. The trade was a 8.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 5,755,824 shares of company stock worth $88,013,837 over the last 90 days. Company insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC increased its stake in Hycroft Mining by 1,666.7% in the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after buying an additional 1,000 shares during the period. Bank of America Corp DE boosted its holdings in shares of Hycroft Mining by 166.6% in the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after acquiring an additional 2,537 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Hycroft Mining during the third quarter worth about $96,000. Virtu Financial LLC raised its holdings in Hycroft Mining by 20.3% during 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 in the last quarter. Finally, XTX Topco Ltd purchased a new position in Hycroft Mining during the second quarter worth about $101,000. 7.38% of the stock is currently owned by hedge funds and other institutional investors.

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.