Hycroft Mining (NASDAQ:HYMC) Sees Unusually-High Trading Volume on Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares saw an uptick in trading volume on Wednesday following insider buying activity. 2,404,128 shares changed hands during mid-day trading, an increase of 158% from the previous session’s volume of 931,534 shares.The stock last traded at $25.0690 and had previously closed at $27.14.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HYMC. 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 research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hycroft Mining Stock Performance

The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04. The company has a market cap of $2.03 billion, a PE ratio of -15.45 and a beta of 2.71. The business’s 50-day moving average is $11.23 and its 200 day moving average is $6.91.

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, beating analysts’ consensus estimates of ($0.24) by $0.02.

Institutional Investors Weigh In On Hycroft Mining

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of Hycroft Mining by 166.6% during the third 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 period. Occudo Quantitative Strategies LP bought a new position in Hycroft Mining during the 3rd quarter valued at approximately $96,000. Virtu Financial LLC lifted its holdings in Hycroft Mining by 20.3% in the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after buying an additional 2,700 shares during the period. XTX Topco Ltd purchased a new stake in Hycroft Mining in the 2nd quarter worth approximately $101,000. Finally, Jane Street Group LLC bought a new stake in shares of Hycroft Mining in the 1st quarter worth approximately $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.