Hycroft Mining (NASDAQ:HYMC) Stock Price Up 3.6% – Time to Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price was up 3.6% on Thursday . The company traded as high as $43.44 and last traded at $42.15. Approximately 3,914,528 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 5,273,688 shares. The stock had previously closed at $40.68.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HYMC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hycroft Mining presently has an average rating of “Sell”.

Hycroft Mining Price Performance

The stock has a market capitalization of $3.50 billion, a PE ratio of -26.02 and a beta of 2.62. The firm’s 50 day simple moving average is $31.63 and its 200 day simple moving average is $15.65. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87.

Insider Activity

In other news, SVP David Brian Thomas sold 15,000 shares of Hycroft Mining stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $21.21, for a total value of $318,150.00. Following the transaction, the senior vice president owned 81,070 shares in the company, valued at approximately $1,719,494.70. The trade was a 15.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Eric Sprott purchased 200,000 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was bought at an average cost of $45.99 per share, for a total transaction of $9,198,000.00. Following the completion of the purchase, the insider directly 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 4,755,824 shares of company stock valued at $79,273,837. Company insiders own 1.31% of the company’s stock.

Institutional Trading of Hycroft Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HYMC. Regal Partners Ltd purchased a new stake in shares of Hycroft Mining in the 4th quarter worth about $7,480,000. Garton & Associates Financial Advisors LLC purchased a new stake in Hycroft Mining in the fourth quarter worth $52,000. Millennium Management LLC grew its stake in Hycroft Mining by 61.6% in the fourth quarter. Millennium Management LLC now owns 571,526 shares of the company’s stock worth $13,585,000 after purchasing an additional 217,866 shares during the period. Engineers Gate Manager LP bought a new position in Hycroft Mining in the fourth quarter worth $303,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Hycroft Mining during the 4th quarter valued at $583,000. Hedge funds and other 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.