Hycroft Mining (NASDAQ:HYMC) Stock Price Up 11.6% on Insider Buying Activity

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) shot up 11.6% during trading on Tuesday following insider buying activity. The company traded as high as $47.47 and last traded at $46.94. 4,105,843 shares traded hands during trading, a decline of 22% from the average session volume of 5,238,487 shares. The stock had previously closed at $42.05.

Specifically, major shareholder Eric Sprott purchased 150,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average price of $42.05 per share, for a total transaction of $6,307,500.00. Following the purchase, the insider directly owned 36,903,704 shares in the company, valued at approximately $1,551,800,753.20. This trade represents a 0.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

HYMC has been the subject of a number of research reports. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a 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 investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hycroft Mining has an average rating of “Sell”.

Hycroft Mining Price Performance

The company has a market cap of $3.90 billion, a price-to-earnings ratio of -28.98 and a beta of 2.61. The company’s 50 day moving average price is $33.36 and its 200 day moving average price is $16.54. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83.

Institutional Investors Weigh In On Hycroft Mining

A number of hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hycroft Mining by 11.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock worth $1,490,000 after purchasing an additional 47,385 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Hycroft Mining in the 1st quarter worth about $124,000. Timelo Investment Management Inc. purchased a new stake in shares of Hycroft Mining in the 2nd quarter worth about $470,000. Geode Capital Management LLC grew its stake in Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after acquiring an additional 3,146 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Hycroft Mining during the 2nd quarter valued at about $101,000. Institutional investors and hedge funds 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.