Hycroft Mining (NASDAQ:HYMC) Sets New 12-Month High on Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price reached a new 52-week high during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as $12.50 and last traded at $11.2480, with a volume of 335991 shares changing hands. The stock had previously closed at $11.45.

Specifically, major shareholder Eric Sprott bought 2,340,824 shares of Hycroft Mining stock in a transaction on Wednesday, December 3rd. The shares were purchased at an average price of $10.30 per share, with a total value of $24,110,487.20. Following the acquisition, the insider owned 29,466,352 shares in the company, valued at $303,503,425.60. This trade represents a 8.63% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Wednesday, October 8th. 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 data from MarketBeat, the company currently has a consensus rating of “Sell”.

Hycroft Mining Stock Up 3.5%

The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $945.73 million, a P/E ratio of -7.21 and a beta of 2.71. The stock has a 50 day moving average price of $8.75 and a 200 day moving average price of $5.76.

Hycroft Mining (NASDAQ:HYMC) last issued its 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC raised its holdings in Hycroft Mining by 125.3% in the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after buying an additional 871,030 shares during the last quarter. UBS Group AG raised its stake in shares of Hycroft Mining by 711.9% during the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after acquiring an additional 828,625 shares during the last quarter. LM Asset IM Inc. bought a new position in shares of Hycroft Mining during the second quarter valued at $1,189,000. Millennium Management LLC acquired a new position in shares of Hycroft Mining during the third quarter worth $2,193,000. Finally, Two Sigma Investments LP grew its stake in shares of Hycroft Mining by 328.7% in the third quarter. Two Sigma Investments LP now owns 387,375 shares of the company’s stock worth $2,402,000 after purchasing an additional 297,007 shares during the last quarter. Institutional investors and hedge funds own 7.38% of the company’s stock.

About Hycroft Mining

Hycroft Mining Holding Corporation, together with its subsidiaries, operates as a gold and silver development company in the United States. The company holds interests in the Hycroft mine that consists of 30 private parcels with patented claims comprising approximately 1,787 acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres located in the state of Nevada.