Hycroft Mining (NASDAQ:HYMC) Hits New 52-Week High Following Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price hit a new 52-week high during trading on Monday after an insider bought additional shares in the company. The company traded as high as $12.50 and last traded at $11.2480, with a volume of 335991 shares trading hands. The stock had previously closed at $11.45.

Specifically, major shareholder Eric Sprott purchased 2,340,824 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were bought at an average cost of $10.30 per share, for a total transaction of $24,110,487.20. Following the transaction, the insider owned 29,466,352 shares in the company, valued at $303,503,425.60. This trade represents a 8.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

Several analysts have recently weighed in on HYMC shares. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a 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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Hycroft Mining Price Performance

The company has a market cap of $913.34 million, a price-to-earnings ratio of -6.96 and a beta of 2.71. 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 business has a 50-day moving average price of $8.64 and a 200 day moving average price of $5.70.

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.

Hedge Funds Weigh In On Hycroft Mining

Institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in Hycroft Mining by 125.3% during the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after buying an additional 871,030 shares during the period. Vanguard Group Inc. increased its position in shares of Hycroft Mining by 18.8% in the third quarter. Vanguard Group Inc. now owns 1,133,290 shares of the company’s stock worth $7,026,000 after acquiring an additional 179,050 shares in the last quarter. UBS Group AG raised its holdings in shares of Hycroft Mining by 711.9% during the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after acquiring an additional 828,625 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Hycroft Mining by 43.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 882,624 shares of the company’s stock valued at $5,472,000 after acquiring an additional 268,633 shares during the period. Finally, Sprott Inc. lifted its position in shares of Hycroft Mining by 11.7% in the 3rd quarter. Sprott Inc. now owns 816,253 shares of the company’s stock valued at $5,061,000 after acquiring an additional 85,490 shares in the last quarter. 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.