Hycroft Mining (NASDAQ:HYMC) Shares Up 2.4% Following Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price traded up 2.4% during mid-day trading on Monday following insider buying activity. The company traded as high as $43.34 and last traded at $42.05. 3,354,776 shares traded hands during trading, a decline of 36% from the average session volume of 5,270,216 shares. The stock had previously closed at $41.07.

Specifically, major shareholder Eric Sprott purchased 150,000 shares of the stock in a transaction on Friday, February 20th. The shares were acquired at an average price of $42.05 per share, with a total value of $6,307,500.00. Following the completion of the acquisition, the insider directly owned 36,903,704 shares of the company’s stock, valued at $1,551,800,753.20. This trade represents a 0.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HYMC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Hycroft Mining Stock Up 2.4%

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 capitalization of $3.49 billion, a P/E ratio of -25.96 and a beta of 2.61. The company has a fifty day moving average price of $33.36 and a 200-day moving average price of $16.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. LM Asset IM Inc. bought a new stake in Hycroft Mining during the second quarter worth approximately $1,189,000. Timelo Investment Management Inc. purchased a new position in shares of Hycroft Mining in the 2nd quarter worth approximately $470,000. UBS Group AG increased its position in shares of Hycroft Mining by 5.4% during the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after purchasing an additional 51,126 shares during the last quarter. Vanguard Group Inc. raised its holdings in Hycroft Mining by 150.2% during the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after buying an additional 1,702,288 shares during the period. Finally, U S Global Investors Inc. bought a new stake in Hycroft Mining in the fourth quarter worth $238,000. 7.38% of the stock is currently 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.