Hycroft Mining (NASDAQ:HYMC) Shares Gap Up After Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $12.36, but opened at $13.11. Hycroft Mining shares last traded at $12.74, with a volume of 851,309 shares trading hands.

Specifically, major shareholder Eric Sprott purchased 120,000 shares of Hycroft Mining stock in a transaction on Thursday, December 11th. The shares were bought at an average price of $12.36 per share, with a total value of $1,483,200.00. Following the purchase, the insider directly owned 29,946,352 shares in the company, valued at $370,136,910.72. This trade represents a 0.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Eric Sprott acquired 60,000 shares of the stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average cost of $11.64 per share, with a total value of $698,400.00. Following the transaction, the insider owned 29,826,352 shares of the company’s stock, valued at approximately $347,178,737.28. This trade represents a 0.20% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In other Hycroft Mining news, major shareholder Eric Sprott purchased 300,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were purchased at an average cost of $11.74 per share, with a total value of $3,522,000.00. Following the purchase, the insider owned 29,766,352 shares in the company, valued at approximately $349,456,972.48. This represents a 1.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HYMC. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Hycroft Mining Price Performance

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 stock has a 50-day moving average of $9.11 and a two-hundred day moving average of $5.94. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -8.27 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMC) last issued its quarterly earnings data on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02.

Institutional Trading of Hycroft Mining

A number of institutional investors have recently modified their holdings of HYMC. Tidal Investments LLC raised its position 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. Vanguard Group Inc. grew its position in Hycroft Mining by 18.8% in the third quarter. Vanguard Group Inc. now owns 1,133,290 shares of the company’s stock valued at $7,026,000 after purchasing an additional 179,050 shares in the last quarter. UBS Group AG increased its stake in Hycroft Mining by 711.9% in the 3rd quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after buying an additional 828,625 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Hycroft Mining by 43.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 882,624 shares of the company’s stock worth $5,472,000 after buying an additional 268,633 shares in the last quarter. Finally, Sprott Inc. grew its holdings in shares of Hycroft Mining by 11.7% in the 3rd quarter. Sprott Inc. now owns 816,253 shares of the company’s stock valued at $5,061,000 after acquiring an additional 85,490 shares in the last quarter. 7.38% of the stock is currently owned by institutional investors.

Hycroft Mining Company Profile

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.