Hycroft Mining (NASDAQ:HYMC) Shares Up 3.6% – Here’s Why

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares rose 3.6% on Thursday . The company traded as high as $43.44 and last traded at $42.15. Approximately 3,914,528 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 5,273,688 shares. The stock had previously closed at $40.68.

Analysts Set New Price Targets

HYMC has been the topic of several recent research reports. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hycroft Mining Trading Up 3.6%

The firm has a market capitalization of $3.50 billion, a PE ratio of -26.02 and a beta of 2.62. The firm has a 50 day simple moving average of $31.63 and a 200 day simple moving average of $15.65. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83.

Insider Activity

In other news, SVP David Brian Thomas sold 15,000 shares of Hycroft Mining stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $21.21, for a total value of $318,150.00. Following the completion of the sale, the senior vice president directly owned 81,070 shares in the company, valued at $1,719,494.70. The trade was a 15.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Eric Sprott acquired 200,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were bought at an average price of $45.99 per share, for a total transaction of $9,198,000.00. Following the transaction, the insider owned 36,753,704 shares of the company’s stock, valued at $1,690,302,846.96. This trade represents a 0.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 4,755,824 shares of company stock valued at $79,273,837 over the last quarter. 1.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hycroft Mining

A number of hedge funds have recently added to or reduced their stakes in the stock. Regal Partners Ltd purchased a new position in shares of Hycroft Mining in the 4th quarter worth $7,480,000. Garton & Associates Financial Advisors LLC purchased a new position in Hycroft Mining in the fourth quarter worth about $52,000. Millennium Management LLC grew its stake in shares of Hycroft Mining by 61.6% during the 4th quarter. Millennium Management LLC now owns 571,526 shares of the company’s stock valued at $13,585,000 after purchasing an additional 217,866 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Hycroft Mining during the 4th quarter valued at about $303,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Hycroft Mining during the 4th quarter valued at about $583,000. 7.38% of the stock is currently owned by hedge funds and other institutional investors.

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.