Hycroft Mining (NASDAQ:HYMC) Major Shareholder Eric Sprott Buys 100,000 Shares

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were purchased at an average cost of $37.84 per share, with a total value of $3,784,000.00. Following the purchase, the insider directly owned 37,403,704 shares of the company’s stock, valued at approximately $1,415,356,159.36. This represents a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Eric Sprott also recently made the following trade(s):

• On Thursday, April 9th, Eric Sprott purchased 200,000 shares of Hycroft Mining stock. The stock was acquired at an average price of $38.67 per share, for a total transaction of $7,734,000.00.
• On Wednesday, March 4th, Eric Sprott purchased 100,000 shares of Hycroft Mining stock. The stock was acquired at an average cost of $47.58 per share, with a total value of $4,758,000.00.
• On Friday, February 20th, Eric Sprott acquired 150,000 shares of Hycroft Mining stock. The shares were acquired at an average price of $42.05 per share, with a total value of $6,307,500.00.
• On Thursday, January 29th, Eric Sprott acquired 200,000 shares of Hycroft Mining stock. The stock was acquired at an average cost of $45.99 per share, for a total transaction of $9,198,000.00.

Hycroft Mining Price Performance

NASDAQ HYMC opened at $38.12 on Tuesday. Hycroft Mining Holding Corporation has a 12 month low of $2.71 and a 12 month high of $58.73. The company has a market capitalization of $3.47 billion, a P/E ratio of -23.53 and a beta of 2.91. The company’s 50 day simple moving average is $39.56 and its 200 day simple moving average is $27.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HYMC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Hycroft Mining by 11.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock worth $1,490,000 after acquiring an additional 47,385 shares in the last quarter. Jane Street Group LLC acquired a new position in Hycroft Mining in the 1st quarter worth approximately $124,000. Geode Capital Management LLC boosted its stake in Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after purchasing an additional 3,146 shares during the period. XTX Topco Ltd purchased a new position in Hycroft Mining during the 2nd quarter worth approximately $101,000. Finally, Shay Capital LLC grew its position in Hycroft Mining by 100.2% during the 2nd quarter. Shay Capital LLC now owns 246,627 shares of the company’s stock worth $772,000 after purchasing an additional 123,453 shares in the last quarter. 7.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus 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.