Hycroft Mining (NASDAQ:HYMC) Sets New 12-Month High on Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC) hit a new 52-week high during trading on Tuesday following insider buying activity. The company traded as high as $26.25 and last traded at $24.52, with a volume of 20215563 shares. The stock had previously closed at $16.42.

Specifically, major shareholder Eric Sprott bought 150,000 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were purchased at an average price of $16.31 per share, for a total transaction of $2,446,500.00. Following the acquisition, the insider owned 30,756,352 shares in the company, valued at approximately $501,636,101.12. This represents a 0.49% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Eric Sprott purchased 220,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were acquired at an average cost of $14.60 per share, with a total value of $3,212,000.00. Following the completion of the transaction, the insider owned 30,606,352 shares in the company, valued at $446,852,739.20. This trade represents a 0.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Wall Street Analyst Weigh In

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

Hycroft Mining Trading Down 7.8%

The firm’s 50 day moving average price is $10.90 and its 200-day moving average price is $6.78. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87. The stock has a market cap of $2.03 billion, a P/E ratio of -15.45 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMC) last announced its quarterly 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.

Institutional Inflows and Outflows

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