Hycroft Mining (NASDAQ:HYMC) Trading 12.1% Higher – Should You Buy?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) traded up 12.1% during mid-day trading on Monday . The company traded as high as $38.85 and last traded at $38.76. 3,521,324 shares traded hands during trading, a decline of 37% from the average session volume of 5,623,100 shares. The stock had previously closed at $34.59.

Analysts Set New Price Targets

A number of analysts recently weighed in on HYMC shares. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hycroft Mining has an average rating of “Sell”.

Hycroft Mining Stock Performance

The firm’s 50-day moving average is $27.69 and its 200 day moving average is $13.89. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83.

Insider Buying and Selling at Hycroft Mining

In related news, major shareholder Eric Sprott acquired 2,340,824 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average cost of $10.30 per share, for a total transaction of $24,110,487.20. Following the transaction, the insider directly owned 29,466,352 shares of the company’s stock, valued at approximately $303,503,425.60. This trade represents a 8.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have purchased 5,755,824 shares of company stock worth $88,013,837. Company insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Several hedge funds have recently bought and sold shares of the stock. Kingsview Wealth Management LLC acquired a new position in shares of Hycroft Mining in the fourth quarter worth $233,000. Geode Capital Management LLC increased its stake in shares of Hycroft Mining by 158.6% during the 4th quarter. Geode Capital Management LLC now owns 800,532 shares of the company’s stock valued at $19,038,000 after acquiring an additional 490,961 shares during the last quarter. Global Retirement Partners LLC increased its position in Hycroft Mining by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock worth $1,000,000 after purchasing an additional 475 shares during the last quarter. UBS Group AG raised its position in shares of Hycroft Mining by 5.4% in the 4th quarter. UBS Group AG now owns 996,148 shares of the company’s stock worth $23,678,000 after buying an additional 51,126 shares during the period. Finally, Vanguard Group Inc. increased its stake in Hycroft Mining by 150.2% during the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after acquiring an additional 1,702,288 shares during the last quarter. Hedge funds and other 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.