Insider Buying: Hycroft Mining (NASDAQ:HYMC) Major Shareholder Acquires 400,000 Shares of Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott purchased 400,000 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average cost of $22.70 per share, with a total value of $9,080,000.00. Following the completion of the acquisition, the insider directly owned 31,456,352 shares of the company’s stock, valued at $714,059,190.40. The trade was a 1.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Eric Sprott also recently made the following trade(s):

• On Friday, December 26th, Eric Sprott acquired 200,000 shares of Hycroft Mining stock. The shares were bought at an average cost of $24.93 per share, for a total transaction of $4,986,000.00.
• On Wednesday, December 24th, Eric Sprott acquired 100,000 shares of Hycroft Mining stock. The stock was bought at an average price of $24.79 per share, with a total value of $2,479,000.00.
• On Friday, December 19th, Eric Sprott bought 150,000 shares of Hycroft Mining stock. The stock was bought at an average cost of $16.31 per share, with a total value of $2,446,500.00.
• On Wednesday, December 17th, Eric Sprott bought 220,000 shares of Hycroft Mining stock. The shares were bought at an average price of $14.60 per share, for a total transaction of $3,212,000.00.
• On Monday, December 15th, Eric Sprott purchased 200,000 shares of Hycroft Mining stock. The shares were bought at an average cost of $13.02 per share, for a total transaction of $2,604,000.00.
• On Friday, December 12th, Eric Sprott purchased 40,000 shares of Hycroft Mining stock. The stock was bought at an average cost of $13.30 per share, with a total value of $532,000.00.
• On Thursday, December 11th, Eric Sprott acquired 120,000 shares of Hycroft Mining stock. The shares were purchased at an average cost of $12.36 per share, for a total transaction of $1,483,200.00.
• On Wednesday, December 10th, Eric Sprott acquired 60,000 shares of Hycroft Mining stock. The stock was purchased at an average price of $11.64 per share, for a total transaction of $698,400.00.
• On Tuesday, December 9th, Eric Sprott bought 300,000 shares of Hycroft Mining stock. The stock was purchased at an average cost of $11.74 per share, with a total value of $3,522,000.00.
• On Wednesday, December 3rd, Eric Sprott bought 2,340,824 shares of Hycroft Mining stock. The shares were purchased at an average price of $10.30 per share, with a total value of $24,110,487.20.

Hycroft Mining Trading Up 0.9%

Shares of HYMC traded up $0.22 during trading hours on Tuesday, hitting $23.48. 3,994,304 shares of the stock traded hands, compared to its average volume of 1,005,844. The business has a fifty day moving average of $11.86 and a 200-day moving average of $7.23. 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 firm has a market capitalization of $1.90 billion, a PE ratio of -14.49 and a beta of 2.71. Hycroft Mining Holding Corporation has a 1-year low of $2.00 and a 1-year high of $29.80.

Hycroft Mining (NASDAQ:HYMC) last released 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in shares of Hycroft Mining by 166.6% in the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after acquiring an additional 2,537 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of Hycroft Mining by 20.3% during the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after purchasing an additional 2,700 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after purchasing an additional 3,146 shares during the period. Occudo Quantitative Strategies LP bought a new stake in Hycroft Mining during the 3rd quarter worth approximately $96,000. Finally, BNP Paribas Financial Markets raised its holdings in Hycroft Mining by 5,537.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 32,413 shares of the company’s stock worth $201,000 after buying an additional 31,838 shares during the period. 7.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a report on Wednesday, October 8th. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

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.