Hycroft Mining (NASDAQ:HYMC) Stock Price Up 2.4% After Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares rose 2.4% during mid-day trading on Monday following insider buying activity. The company traded as high as $43.34 and last traded at $42.05. Approximately 3,354,776 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 5,270,216 shares. The stock had previously closed at $41.07.

Specifically, major shareholder Eric Sprott acquired 150,000 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $42.05 per share, with a total value of $6,307,500.00. Following the acquisition, the insider directly owned 36,903,704 shares in the company, valued at $1,551,800,753.20. The trade was a 0.41% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HYMC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hycroft Mining has a consensus rating of “Sell”.

Hycroft Mining Stock Performance

The stock’s 50 day moving average price is $34.03 and its 200 day moving average price is $16.85. The company has a market capitalization of $3.90 billion, a P/E ratio of -28.98 and a beta of 2.61. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HYMC. Virtu Financial LLC boosted its position in shares of Hycroft Mining by 194.6% during the 4th quarter. Virtu Financial LLC now owns 47,208 shares of the company’s stock valued at $1,122,000 after purchasing an additional 31,185 shares in the last quarter. Regal Partners Ltd acquired a new position in Hycroft Mining in the fourth quarter valued at approximately $7,480,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Hycroft Mining during the 4th quarter worth approximately $52,000. Millennium Management LLC grew its position in shares of Hycroft Mining by 61.6% during the 4th quarter. Millennium Management LLC now owns 571,526 shares of the company’s stock worth $13,585,000 after buying an additional 217,866 shares during the period. Finally, Engineers Gate Manager LP bought a new stake in shares of Hycroft Mining in the 4th quarter valued at $303,000. 7.38% of the stock is owned by institutional investors and hedge funds.

Hycroft Mining Company Profile

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.