Insider Buying: Hycroft Mining (NASDAQ:HYMC) Major Shareholder Acquires $4,996,000.00 in Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott bought 100,000 shares of Hycroft Mining stock in a transaction on Monday, January 26th. The stock was acquired at an average price of $49.96 per share, for a total transaction of $4,996,000.00. Following the transaction, the insider directly owned 36,553,704 shares of the company’s stock, valued at approximately $1,826,223,051.84. This trade represents a 0.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Eric Sprott also recently made the following trade(s):

• On Wednesday, January 14th, Eric Sprott acquired 200,000 shares of Hycroft Mining stock. The shares were bought at an average cost of $33.21 per share, for a total transaction of $6,642,000.00.
• On Friday, January 9th, Eric Sprott acquired 25,000 shares of Hycroft Mining stock. The stock was purchased at an average cost of $27.05 per share, for a total transaction of $676,250.00.
• On Thursday, January 8th, Eric Sprott purchased 100,000 shares of Hycroft Mining stock. The shares were purchased at an average cost of $26.08 per share, with a total value of $2,608,000.00.
• On Monday, December 29th, Eric Sprott purchased 400,000 shares of Hycroft Mining stock. The stock was acquired at an average price of $22.70 per share, with a total value of $9,080,000.00.
• On Friday, December 26th, Eric Sprott purchased 200,000 shares of Hycroft Mining stock. The stock was bought at an average price of $24.93 per share, with a total value of $4,986,000.00.
• On Wednesday, December 24th, Eric Sprott purchased 100,000 shares of Hycroft Mining stock. The stock was acquired at an average price of $24.79 per share, for a total transaction of $2,479,000.00.
• On Friday, December 19th, Eric Sprott bought 150,000 shares of Hycroft Mining stock. The shares were bought at an average cost of $16.31 per share, for a total transaction of $2,446,500.00.
• On Wednesday, December 17th, Eric Sprott purchased 220,000 shares of Hycroft Mining stock. The stock was bought at an average cost of $14.60 per share, for a total transaction of $3,212,000.00.
• On Monday, December 15th, Eric Sprott bought 200,000 shares of Hycroft Mining stock. The stock was purchased at an average price of $13.02 per share, for a total transaction of $2,604,000.00.
• On Friday, December 12th, Eric Sprott acquired 40,000 shares of Hycroft Mining stock. The stock was purchased at an average price of $13.30 per share, with a total value of $532,000.00.

Hycroft Mining Stock Performance

HYMC traded up $5.26 on Tuesday, hitting $54.85. 7,377,361 shares of the stock traded hands, compared to its average volume of 4,810,725. The firm has a market capitalization of $4.55 billion, a PE ratio of -33.86 and a beta of 2.64. The business has a fifty day moving average price of $22.95 and a two-hundred day moving average price of $11.85. Hycroft Mining Holding Corporation has a 52 week low of $2.05 and a 52 week high of $58.73. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen raised shares of 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 note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Trading of Hycroft Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HYMC. FNY Investment Advisers LLC increased its holdings 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 valued at $25,000 after acquiring an additional 1,000 shares in the last quarter. Bank of America Corp DE increased its holdings in Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after purchasing an additional 2,537 shares during the period. Occudo Quantitative Strategies LP purchased a new position in shares of Hycroft Mining in the 3rd quarter valued at $96,000. Virtu Financial LLC lifted its position in Hycroft Mining by 20.3% during the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after acquiring an additional 2,700 shares during the period. Finally, XTX Topco Ltd acquired a new position in Hycroft Mining during the second quarter worth $101,000. 7.38% of the stock is owned by hedge funds and other institutional investors.

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.