Hycroft Mining (NASDAQ:HYMC) Trading 2.6% Higher – Still a Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price rose 2.6% on Thursday . The stock traded as high as $50.30 and last traded at $49.87. Approximately 4,342,333 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 5,212,362 shares. The stock had previously closed at $48.62.

Analyst Ratings Changes

Several research firms recently 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 reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hycroft Mining currently has a consensus rating of “Sell”.

Hycroft Mining Price Performance

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 market capitalization of $4.14 billion, a price-to-earnings ratio of -30.78 and a beta of 2.62. The business’s 50 day simple moving average is $34.73 and its 200-day simple moving average is $17.07.

Insider Buying and Selling at Hycroft Mining

In other news, SVP David Brian Thomas sold 15,000 shares of the stock in a transaction on Monday, December 29th. The stock was sold at an average price of $21.21, for a total value of $318,150.00. Following the completion of the transaction, the senior vice president owned 81,070 shares of the company’s stock, valued at approximately $1,719,494.70. This represents a 15.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Eric Sprott acquired 150,000 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $42.05 per share, for a total transaction of $6,307,500.00. Following the completion of the purchase, the insider owned 36,903,704 shares of the company’s stock, valued at approximately $1,551,800,753.20. This represents a 0.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 4,905,824 shares of company stock worth $85,581,337 in the last ninety days. 1.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hycroft Mining

Large investors have recently made changes to their positions in the business. LM Asset IM Inc. bought a new position in shares of Hycroft Mining during the 2nd quarter worth about $1,189,000. Timelo Investment Management Inc. bought a new stake in shares of Hycroft Mining during the second quarter worth $470,000. Vanguard Group Inc. grew its stake in shares of Hycroft Mining by 150.2% during the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after purchasing an additional 1,702,288 shares during the last quarter. UBS Group AG increased its stake in shares of Hycroft Mining by 5.4% in the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after buying an additional 51,126 shares during the period. Finally, U S Global Investors Inc. acquired a new stake in Hycroft Mining in the fourth quarter worth about $238,000. 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.