Eric Sprott Buys 2,340,824 Shares of Hycroft Mining (NASDAQ:HYMC) Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott purchased 2,340,824 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was acquired at an average price of $10.30 per share, with a total value of $24,110,487.20. Following the purchase, the insider directly owned 29,466,352 shares in the company, valued at $303,503,425.60. This represents a 8.63% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, November 13th, Eric Sprott acquired 500,000 shares of Hycroft Mining stock. The stock was acquired at an average cost of $9.41 per share, with a total value of $4,705,000.00.
• On Tuesday, November 11th, Eric Sprott bought 500,000 shares of Hycroft Mining stock. The shares were acquired at an average cost of $8.07 per share, for a total transaction of $4,035,000.00.
• On Tuesday, October 14th, Eric Sprott purchased 7,690,000 shares of Hycroft Mining stock. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $49,985,000.00.
• On Wednesday, September 10th, Eric Sprott acquired 9,344,704 shares of Hycroft Mining stock. The shares were bought at an average cost of $4.28 per share, with a total value of $39,995,333.12.

Hycroft Mining Price Performance

Shares of Hycroft Mining stock traded down $0.52 on Friday, hitting $11.45. 1,285,692 shares of the company traded hands, compared to its average volume of 1,557,839. Hycroft Mining Holding Corporation has a 52 week low of $1.99 and a 52 week high of $12.50. The business has a 50-day simple moving average of $8.54 and a 200 day simple moving average of $5.60. 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 $927.11 million, a P/E ratio of -7.07 and a beta of 2.71.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HYMC. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hycroft Mining presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in Hycroft Mining by 166.6% in the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after acquiring an additional 2,537 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in shares of Hycroft Mining in the 3rd quarter worth approximately $96,000. Virtu Financial LLC boosted its stake in shares of Hycroft Mining by 20.3% during the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after purchasing an additional 2,700 shares in the last quarter. XTX Topco Ltd purchased a new position in Hycroft Mining during the second quarter valued at approximately $101,000. Finally, Jane Street Group LLC bought a new position in Hycroft Mining in the first quarter worth approximately $124,000. Hedge funds and other institutional investors own 7.38% of the company’s stock.

About Hycroft Mining

Hycroft Mining Holding Corporation, together with its subsidiaries, operates as a gold and silver development company in the United States. The company holds interests in the Hycroft mine that consists of 30 private parcels with patented claims comprising approximately 1,787 acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres located in the state of Nevada.