Hycroft Mining (NASDAQ:HYMC) Reaches New 52-Week High – What’s Next?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.33 and last traded at $28.4090, with a volume of 1519215 shares traded. The stock had previously closed at $28.15.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in 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 Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Hycroft Mining Trading Up 2.5%

The business has a 50 day moving average of $13.61 and a 200 day moving average of $7.99. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -17.84 and a beta of 2.64. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87.

Hycroft Mining (NASDAQ:HYMC) last issued its earnings results on Tuesday, October 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02.

Insider Transactions at Hycroft Mining

In other news, major shareholder Eric Sprott bought 7,690,000 shares of the stock in a transaction on Tuesday, October 14th. The stock was purchased at an average price of $6.50 per share, with a total value of $49,985,000.00. Following the completion of the purchase, the insider owned 25,225,528 shares of the company’s stock, valued at approximately $163,965,932. This trade represents a 43.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have purchased 12,820,824 shares of company stock worth $113,878,587 and have sold 38,859 shares worth $517,545. Corporate insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Several institutional investors and hedge funds have recently made changes to their positions in HYMC. Bank of America Corp DE increased its position in shares of Hycroft Mining by 166.6% in the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after buying an additional 2,537 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in Hycroft Mining in the third quarter valued at about $96,000. Virtu Financial LLC increased its holdings in shares of Hycroft Mining by 20.3% in the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after acquiring an additional 2,700 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Hycroft Mining during the second quarter worth about $101,000. Finally, Jane Street Group LLC bought a new position in shares of Hycroft Mining during the 1st quarter valued at about $124,000. Institutional investors and hedge funds own 7.38% of the company’s stock.

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.