Investors Purchase Large Volume of Put Options on Hycroft Mining (NASDAQ:HYMC)

Hycroft Mining Holding Corporation (NASDAQ:HYMC) was the target of some unusual options trading activity on Monday. Stock traders bought 9,876 put options on the stock. This is an increase of 321% compared to the average daily volume of 2,345 put options.

Insider Transactions at Hycroft Mining

In other news, major shareholder Eric Sprott acquired 150,000 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were purchased at an average price of $16.31 per share, with a total value of $2,446,500.00. Following the transaction, the insider directly owned 30,756,352 shares in the company, valued at approximately $501,636,101.12. This represents a 0.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marni Wieshofer sold 3,859 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $13.37, for a total transaction of $51,594.83. Following the transaction, the director owned 70,125 shares of the company’s stock, valued at approximately $937,571.25. This trade represents a 5.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders bought a total of 12,120,824 shares of company stock worth $97,333,587 over the last 90 days. 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 modified their holdings of HYMC. Tidal Investments LLC boosted its position in Hycroft Mining by 125.3% during the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after purchasing an additional 871,030 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Hycroft Mining during the 3rd quarter worth approximately $381,000. Millennium Management LLC acquired a new position in shares of Hycroft Mining during the 3rd quarter worth approximately $2,193,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hycroft Mining by 43.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 882,624 shares of the company’s stock valued at $5,472,000 after buying an additional 268,633 shares in the last quarter. Finally, Centiva Capital LP acquired a new stake in Hycroft Mining in the 3rd quarter valued at $284,000. Hedge funds and other institutional investors own 7.38% of the company’s stock.

Hycroft Mining Price Performance

NASDAQ:HYMC opened at $23.26 on Tuesday. 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 company has a 50 day moving average price of $11.86 and a 200-day moving average price of $7.23. Hycroft Mining has a 1-year low of $2.00 and a 1-year high of $29.80. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -14.36 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

About Hycroft Mining

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.