Hycroft Mining (NASDAQ:HYMC) Shares Up 11.6% Following Insider Buying Activity

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 were traded during mid-day 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 acquired 150,000 shares of the stock in a transaction on Friday, February 20th. The shares were purchased at an average cost of $42.05 per share, for a total transaction of $6,307,500.00. Following the transaction, the insider 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

Several brokerages have recently commented on HYMC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Hycroft Mining presently has a consensus rating of “Sell”.

Hycroft Mining Trading Up 11.6%

The business has a 50-day moving average of $34.03 and a 200-day moving average of $16.85. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of -28.98 and a beta of 2.61.

Institutional Investors Weigh In On Hycroft Mining

Large investors have recently made changes to their positions in the company. FNY Investment Advisers LLC raised its position in Hycroft Mining by 1,666.7% during the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after acquiring an additional 1,000 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after purchasing an additional 2,537 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Hycroft Mining during the 4th quarter valued at $52,000. Wells Fargo & Company MN bought a new position in shares of Hycroft Mining during the 4th quarter valued at $71,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Hycroft Mining in the 4th quarter valued at $81,000. Institutional investors 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.