Hycroft Mining (NASDAQ:HYMC) Sees Large Volume Increase on Insider Buying Activity

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) saw unusually-high trading volume on Wednesday following insider buying activity. Approximately 635,959 shares changed hands during mid-day trading, a decline of 16% from the previous session’s volume of 755,337 shares.The stock last traded at $15.0660 and had previously closed at $13.23.

Specifically, major shareholder Eric Sprott bought 200,000 shares of the stock in a transaction dated Monday, December 15th. The shares were acquired at an average cost of $13.02 per share, with a total value of $2,604,000.00. Following the purchase, the insider directly owned 30,186,352 shares in the company, valued at $393,026,303.04. The trade was a 0.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Eric Sprott purchased 40,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average price of $13.30 per share, with a total value of $532,000.00. Following the purchase, the insider owned 29,986,352 shares in the company, valued at $398,818,481.60. This represents a 0.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In other Hycroft Mining news, major shareholder Eric Sprott purchased 120,000 shares of Hycroft Mining stock in a transaction that occurred on Thursday, December 11th. The stock was bought at an average price of $12.36 per share, with a total value of $1,483,200.00. Following the acquisition, the insider owned 29,946,352 shares of the company’s stock, 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 through this link.

Wall Street Analyst Weigh In

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

Hycroft Mining Trading Up 9.7%

The company has a fifty day moving average of $9.67 and a 200-day moving average of $6.22. 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 $1.24 billion, a price-to-earnings ratio of -9.48 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMC) last released its earnings results on Tuesday, October 28th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake 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 during the last quarter. Virtu Financial LLC lifted its stake in shares of Hycroft Mining by 20.3% in 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 boosted its position in Hycroft Mining by 1.4% during the second quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after acquiring an additional 3,146 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Hycroft Mining during the 3rd quarter valued at about $96,000. Finally, BNP Paribas Financial Markets grew its stake in 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. Hedge funds and other institutional investors own 7.38% of the company’s stock.

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.