Hycroft Mining (NASDAQ:HYMC) Shares Up 7.4% – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price rose 7.4% during trading on Friday . The company traded as high as $38.50 and last traded at $35.55. Approximately 3,639,511 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 5,311,717 shares. The stock had previously closed at $33.10.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HYMC. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research 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, the company currently has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The firm has a market cap of $2.95 billion, a P/E ratio of -21.94 and a beta of 2.62. The business’s fifty day simple moving average is $30.13 and its 200-day simple moving average is $14.95. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83.

Insider Buying and Selling

In related news, major shareholder Eric Sprott bought 2,340,824 shares of Hycroft Mining stock in a transaction on Wednesday, December 3rd. The stock was acquired at an average price of $10.30 per share, with a total value of $24,110,487.20. Following the acquisition, the insider directly owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. This represents a 8.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 4,755,824 shares of company stock valued at $79,273,837. 1.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hycroft Mining

Large investors have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new stake in Hycroft Mining during the 4th quarter worth approximately $81,000. FORA Capital LLC bought a new position in shares of Hycroft Mining in the fourth quarter worth $278,000. Hudson Bay Capital Management LP bought a new position in shares of Hycroft Mining in the fourth quarter worth $1,561,000. Bank of Nova Scotia purchased a new stake in shares of Hycroft Mining in the fourth quarter worth $435,000. Finally, Schroder Investment Management Group bought a new stake in Hycroft Mining during the fourth quarter valued at $36,366,000. 7.38% of the stock is currently owned by institutional investors.

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.