Hycroft Mining (NASDAQ:HYMC) Shares Up 2.6% – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares traded up 2.6% during trading on Thursday . The company traded as high as $50.30 and last traded at $49.87. 4,342,333 shares were traded during mid-day trading, a decline of 17% from the average session volume of 5,212,362 shares. The stock had previously closed at $48.62.

Analyst Ratings Changes

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

Hycroft Mining Trading Up 2.6%

The business’s fifty day moving average is $34.73 and its 200-day moving average is $17.07. 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 firm has a market cap of $4.14 billion, a P/E ratio of -30.78 and a beta of 2.62.

Insiders Place Their Bets

In related news, major shareholder Eric Sprott bought 150,000 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average cost of $42.05 per share, with a total value of $6,307,500.00. Following the transaction, the insider directly owned 36,903,704 shares in the company, valued at approximately $1,551,800,753.20. This trade represents a 0.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Brian Thomas sold 15,000 shares of Hycroft Mining stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $21.21, for a total value of $318,150.00. Following the completion of the transaction, the senior vice president directly owned 81,070 shares in the company, valued at approximately $1,719,494.70. This represents a 15.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased 4,905,824 shares of company stock valued at $85,581,337 over the last 90 days. 1.31% of the stock is currently owned by company insiders.

Institutional Trading of Hycroft Mining

Hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC boosted its holdings in Hycroft Mining by 1,666.7% in the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after acquiring an additional 1,000 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Hycroft Mining in the 4th quarter valued at about $52,000. Wells Fargo & Company MN bought a new stake in Hycroft Mining during the 4th quarter worth approximately $71,000. Kestra Advisory Services LLC purchased a new stake in shares of Hycroft Mining in the fourth quarter worth approximately $81,000. Finally, Bank of America Corp DE lifted its stake 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 acquiring an additional 2,537 shares in the last quarter. Institutional investors own 7.38% of the company’s stock.

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.