Hycroft Mining (NASDAQ:HYMC) Trading Up 7.4% – Still a Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) rose 7.4% during trading on Friday . The company traded as high as $38.50 and last traded at $35.55. Approximately 3,639,511 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 5,311,717 shares. The stock had previously closed at $33.10.

Analyst Ratings Changes

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

Hycroft Mining Trading Up 7.3%

The company’s fifty day moving average is $29.64 and its two-hundred day moving average is $14.65. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -21.93 and a beta of 2.62.

Insider Buying and Selling at Hycroft Mining

In other news, SVP David Brian Thomas sold 15,000 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $21.21, for a total transaction of $318,150.00. Following the completion of the transaction, the senior vice president directly owned 81,070 shares of the company’s stock, valued at approximately $1,719,494.70. This represents a 15.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Eric Sprott acquired 200,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was acquired at an average price of $45.99 per share, for a total transaction of $9,198,000.00. Following the acquisition, the insider owned 36,753,704 shares in the company, valued at approximately $1,690,302,846.96. The trade was a 0.55% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 4,755,824 shares of company stock valued at $79,273,837. Corporate insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Global Retirement Partners LLC grew its position in shares of Hycroft Mining by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 42,075 shares of the company’s stock valued at $1,000,000 after buying an additional 475 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in shares of Hycroft Mining by 1,666.7% during the fourth 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 last quarter. Bank of America Corp DE increased its position in shares of Hycroft Mining by 166.6% during the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after purchasing an additional 2,537 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Hycroft Mining by 20.3% in 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 during the period. Finally, Wells Fargo & Company MN purchased a new position in Hycroft Mining during the 4th quarter worth approximately $71,000. Institutional investors and hedge funds 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.