Hycroft Mining (NASDAQ:HYMC) Stock Price Up 7.5% – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares were up 7.5% on Friday . The company traded as high as $33.61 and last traded at $33.51. Approximately 799,751 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 4,876,894 shares. The stock had previously closed at $31.18.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hycroft Mining has an average rating of “Sell”.

Hycroft Mining Trading Up 6.0%

The business has a 50 day moving average price of $40.58 and a 200-day moving average price of $22.54. The firm has a market capitalization of $3.01 billion, a PE ratio of -20.40 and a beta of 2.58.

Insiders Place Their Bets

In related news, SVP Rebecca Jennings sold 9,071 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total value of $356,762.43. Following the completion of the sale, the senior vice president owned 215,794 shares in the company, valued at $8,487,178.02. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David Brian Thomas sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $21.21, for a total value of $318,150.00. Following the completion of the transaction, the senior vice president directly owned 81,070 shares of the company’s stock, valued at $1,719,494.70. The trade was a 15.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 1,275,000 shares of company stock worth $44,265,750. Corporate insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Several institutional investors have recently added to or reduced their stakes in HYMC. Caitong International Asset Management Co. Ltd purchased a new position in Hycroft Mining during the fourth quarter worth about $3,328,000. Virtu Financial LLC grew its holdings in Hycroft Mining by 194.6% in the 4th quarter. Virtu Financial LLC now owns 47,208 shares of the company’s stock valued at $1,122,000 after buying an additional 31,185 shares during the period. Regal Partners Ltd acquired a new position in shares of Hycroft Mining during the 4th quarter valued at about $7,480,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Hycroft Mining during the 4th quarter worth about $52,000. Finally, Millennium Management LLC lifted its holdings in shares of Hycroft Mining by 61.6% during the 4th quarter. Millennium Management LLC now owns 571,526 shares of the company’s stock worth $13,585,000 after acquiring an additional 217,866 shares during the period. 7.38% of the stock is currently owned by institutional investors and hedge funds.

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.