Hycroft Mining (NASDAQ:HYMC) Shares Up 21.1% – Should You Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price was up 21.1% during mid-day trading on Wednesday . The company traded as high as $43.71 and last traded at $40.68. Approximately 6,504,792 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 5,314,709 shares. The stock had previously closed at $33.60.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HYMC shares. Wall Street Zen upgraded 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 report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hycroft Mining presently has a consensus rating of “Sell”.

Hycroft Mining Trading Up 21.1%

The stock has a market cap of $3.38 billion, a PE ratio of -25.11 and a beta of 2.62. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04. The stock has a fifty day moving average price of $31.05 and a 200 day moving average price of $15.47.

Insider Buying and Selling at Hycroft Mining

In other news, major shareholder Eric Sprott purchased 200,000 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was purchased at an average cost of $45.99 per share, with a total value of $9,198,000.00. Following the purchase, the insider owned 36,753,704 shares in the company, valued at approximately $1,690,302,846.96. This trade represents a 0.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David Brian Thomas sold 15,000 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $21.21, for a total transaction of $318,150.00. Following the transaction, the senior vice president owned 81,070 shares in the company, valued at $1,719,494.70. The trade was a 15.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders bought 4,755,824 shares of company stock worth $79,273,837. Insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Hycroft Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Hycroft Mining by 11.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock worth $1,490,000 after buying an additional 47,385 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Hycroft Mining in the 1st quarter valued at $124,000. Timelo Investment Management Inc. bought a new position in shares of Hycroft Mining in the 2nd quarter worth $470,000. Geode Capital Management LLC lifted its stake in shares of Hycroft Mining by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after purchasing an additional 3,146 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Hycroft Mining during the second quarter valued at about $101,000. Institutional investors 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.