Stock Traders Purchase High Volume of Hycroft Mining Put Options (NASDAQ:HYMC)

Hycroft Mining Holding Corporation (NASDAQ:HYMC) was the target of unusually large options trading activity on Monday. Stock traders purchased 9,876 put options on the stock. This is an increase of 321% compared to the typical volume of 2,345 put options.

Hycroft Mining Stock Performance

NASDAQ HYMC traded down $1.75 during trading hours on Monday, hitting $23.26. The company had a trading volume of 7,631,625 shares, compared to its average volume of 993,529. The business has a 50 day moving average of $11.57 and a 200-day moving average of $7.09. 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 has a 1-year low of $2.00 and a 1-year high of $29.80. The company has a market cap of $1.88 billion, a PE ratio of -14.36 and a beta of 2.71.

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

Analyst Upgrades and Downgrades

HYMC has been the subject of several analyst reports. Weiss Ratings reaffirmed 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 note on Saturday, November 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Insider Activity at Hycroft Mining

In other Hycroft Mining news, major shareholder Eric Sprott bought 7,690,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The shares were purchased at an average price of $6.50 per share, with a total value of $49,985,000.00. Following the completion of the acquisition, the insider directly owned 25,225,528 shares of the company’s stock, valued at $163,965,932. This represents a 43.85% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 12,120,824 shares of company stock worth $97,333,587 in the last three months. Insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its position in Hycroft Mining by 166.6% in the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after purchasing an additional 2,537 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in Hycroft Mining in the third quarter valued at $96,000. Virtu Financial LLC raised its holdings 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 valued at $99,000 after buying an additional 2,700 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Hycroft Mining during the second quarter worth about $101,000. Finally, Jane Street Group LLC acquired a new stake in shares of Hycroft Mining during the first quarter worth about $124,000. 7.38% of the stock is currently owned by hedge funds and other institutional investors.

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.