Insider Buying: Hycroft Mining (NASDAQ:HYMC) Major Shareholder Buys $698,400.00 in Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott bought 60,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were acquired at an average price of $11.64 per share, for a total transaction of $698,400.00. Following the transaction, the insider owned 29,826,352 shares in the company, valued at approximately $347,178,737.28. This represents a 0.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, December 11th, Eric Sprott purchased 120,000 shares of Hycroft Mining stock. The stock was acquired at an average price of $12.36 per share, with a total value of $1,483,200.00.
• On Tuesday, December 9th, Eric Sprott purchased 300,000 shares of Hycroft Mining stock. The shares were bought at an average cost of $11.74 per share, for a total transaction of $3,522,000.00.
• On Wednesday, December 3rd, Eric Sprott acquired 2,340,824 shares of Hycroft Mining stock. The shares were bought at an average price of $10.30 per share, for a total transaction of $24,110,487.20.
• On Thursday, November 13th, Eric Sprott acquired 500,000 shares of Hycroft Mining stock. The stock was bought at an average cost of $9.41 per share, with a total value of $4,705,000.00.
• On Tuesday, November 11th, Eric Sprott bought 500,000 shares of Hycroft Mining stock. The shares were bought at an average price of $8.07 per share, with a total value of $4,035,000.00.
• On Tuesday, October 14th, Eric Sprott bought 7,690,000 shares of Hycroft Mining stock. The shares were bought at an average cost of $6.50 per share, for a total transaction of $49,985,000.00.

Hycroft Mining Stock Up 8.4%

Shares of NASDAQ HYMC opened at $13.40 on Friday. The stock has a market capitalization of $1.08 billion, a P/E ratio of -8.27 and a beta of 2.71. The stock’s fifty day moving average is $9.11 and its 200 day moving average is $5.94. Hycroft Mining Holding Corporation has a 52 week low of $1.99 and a 52 week high of $13.74. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04.

Hycroft Mining (NASDAQ:HYMC) last announced its quarterly earnings data 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.

Analysts Set New Price Targets

HYMC has been the topic of several analyst reports. Wall Street Zen upgraded shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On Hycroft Mining

Several hedge funds and other institutional investors have recently made changes to their positions in HYMC. Bank of America Corp DE increased its position in Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after purchasing an additional 2,537 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of Hycroft Mining by 20.3% during the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after buying an additional 2,700 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after acquiring an additional 3,146 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Hycroft Mining in the 3rd quarter valued at $96,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Hycroft Mining by 5,537.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 32,413 shares of the company’s stock valued at $201,000 after acquiring an additional 31,838 shares in the last quarter. 7.38% of the stock is owned by institutional investors.

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.