Hycroft Mining (NASDAQ:HYMC) Trading 7.5% Higher – Here’s What Happened

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) shot up 7.5% on Friday . The stock traded as high as $33.61 and last traded at $33.51. 799,751 shares traded hands during trading, a decline of 84% from the average session volume of 4,876,894 shares. The stock had previously closed at $31.18.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hycroft Mining currently has an average rating of “Sell”.

Hycroft Mining Stock Up 3.6%

The business’s 50-day simple moving average is $40.61 and its two-hundred day simple moving average is $22.24. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -19.91 and a beta of 2.58.

Insider Buying and Selling

In other news, SVP David Brian Thomas sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Eric Sprott bought 400,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were acquired at an average price of $22.70 per share, for a total transaction of $9,080,000.00. Following the transaction, the insider directly owned 31,456,352 shares in the company, valued at approximately $714,059,190.40. This represents a 1.29% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 1,275,000 shares of company stock valued at $44,265,750. 1.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hycroft Mining

Large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC increased its stake in shares of Hycroft Mining by 1,666.7% during the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after purchasing an additional 1,000 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in Hycroft Mining in the 4th quarter worth about $52,000. Wells Fargo & Company MN acquired a new stake in Hycroft Mining in the 4th quarter worth about $71,000. Kestra Advisory Services LLC purchased a new stake in Hycroft Mining during the 4th quarter worth approximately $81,000. Finally, Bank of America Corp DE raised its holdings in shares of Hycroft Mining by 166.6% during 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 during the last quarter. 7.38% of the stock is currently owned by institutional investors and hedge funds.

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.