Hycroft Mining (NASDAQ:HYMC) Trading 1% Higher – Here’s Why

Hycroft Mining Holding Corporation (NASDAQ:HYMC) traded up 1% on Friday . The stock traded as high as $51.25 and last traded at $50.37. 5,794,727 shares were traded during trading, an increase of 11% from the average session volume of 5,224,540 shares. The stock had previously closed at $49.87.

Analysts Set New Price Targets

HYMC has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Hycroft Mining Stock Performance

The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $4.18 billion, a PE ratio of -31.09 and a beta of 2.62. The firm’s 50-day simple moving average is $35.42 and its 200-day simple moving average is $17.30.

Insider Buying and Selling

In other news, major shareholder Eric Sprott bought 2,340,824 shares of the stock in a transaction on Wednesday, December 3rd. The stock was acquired at an average cost of $10.30 per share, for a total transaction of $24,110,487.20. Following the acquisition, the insider owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. This represents a 8.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders acquired 4,905,824 shares of company stock worth $85,581,337. Company insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Several institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC lifted its holdings in shares of Hycroft Mining by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock valued at $1,000,000 after purchasing an additional 475 shares during the last quarter. FNY Investment Advisers LLC raised its stake in Hycroft Mining by 1,666.7% in the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after buying an additional 1,000 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in Hycroft Mining in the fourth quarter worth about $52,000. Bank of America Corp DE grew its stake 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 worth $25,000 after acquiring an additional 2,537 shares during the last quarter. Finally, Virtu Financial LLC raised its position in shares of Hycroft Mining by 20.3% in the 3rd 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 during the last quarter. 7.38% of the stock is owned by hedge funds and other institutional investors.

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.