Hycroft Mining (NASDAQ:HYMC) Hits New 1-Year High on Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price reached a new 52-week high on Tuesday after an insider bought additional shares in the company. The company traded as high as $26.25 and last traded at $24.52, with a volume of 20215563 shares traded. The stock had previously closed at $16.42.

Specifically, major shareholder Eric Sprott purchased 150,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were bought at an average cost of $16.31 per share, with a total value of $2,446,500.00. Following the completion of the transaction, the insider directly owned 30,756,352 shares of the company’s stock, valued at approximately $501,636,101.12. This trade represents a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Eric Sprott acquired 220,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was acquired at an average cost of $14.60 per share, for a total transaction of $3,212,000.00. Following the transaction, the insider owned 30,606,352 shares of the company’s stock, valued at approximately $446,852,739.20. The trade was a 0.72% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HYMC shares. Weiss Ratings reissued 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 report on Saturday, November 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Hycroft Mining Stock Down 7.8%

The company has a 50 day moving average of $10.90 and a 200-day moving average of $6.78. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87. The company has a market cap of $2.03 billion, a P/E ratio of -15.45 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 the consensus estimate of ($0.24) by $0.02.

Hedge Funds Weigh In On Hycroft Mining

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after buying an additional 2,537 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in Hycroft Mining in the third quarter valued at $96,000. Virtu Financial LLC raised its position in Hycroft Mining by 20.3% during the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after purchasing an additional 2,700 shares in the last quarter. XTX Topco Ltd bought a new stake in Hycroft Mining during the second quarter worth about $101,000. Finally, Jane Street Group LLC bought a new stake in Hycroft Mining during the first quarter worth about $124,000. Institutional investors own 7.38% of the company’s stock.

About Hycroft Mining

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.