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

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price rose 2.4% during trading on Monday following insider buying activity. The stock traded as high as $43.34 and last traded at $42.05. Approximately 3,354,776 shares were traded during 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 firm’s stock in a transaction on Friday, February 20th. The stock was bought at an average cost 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 approximately $1,551,800,753.20. The trade was a 0.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HYMC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. Wall Street Zen upgraded 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, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Hycroft Mining Stock Performance

The stock’s 50-day moving average price is $32.78 and its 200-day moving average price is $16.27. 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 $3.49 billion, a P/E ratio of -25.96 and a beta of 2.61.

Hedge Funds Weigh In On Hycroft Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC raised its position in shares of Hycroft Mining by 1,666.7% during the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after purchasing an additional 1,000 shares during the period. Bank of America Corp DE boosted its position 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 valued at $25,000 after purchasing an additional 2,537 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in Hycroft Mining during the 4th quarter worth $52,000. Wells Fargo & Company MN acquired a new stake in shares of Hycroft Mining in the 4th quarter worth about $71,000. Finally, Kestra Advisory Services LLC acquired a new stake in Hycroft Mining in the 4th quarter valued at approximately $81,000. 7.38% of the stock is currently owned by institutional investors and hedge funds.

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.