Hycroft Mining (NASDAQ:HYMC) Stock Price Up 8.7% – Here’s What Happened

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) shot up 8.7% during mid-day trading on Tuesday . The company traded as high as $44.95 and last traded at $44.1130. 1,603,387 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 5,079,993 shares. The stock had previously closed at $40.60.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Hycroft Mining Trading Up 14.3%

The firm has a 50-day moving average price of $38.54 and a 200-day moving average price of $19.58. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -28.66 and a beta of 2.58.

Insider Activity

In related news, major shareholder Eric Sprott acquired 400,000 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was bought at an average price of $22.70 per share, for a total transaction of $9,080,000.00. Following the transaction, the insider owned 31,456,352 shares of the company’s stock, valued at approximately $714,059,190.40. The trade was a 1.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 2,365,000 shares of company stock valued at $62,706,850 over the last quarter. 1.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Hycroft Mining

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Hycroft Mining by 150.2% in the 4th quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after acquiring an additional 1,702,288 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Hycroft Mining in the fourth quarter worth $39,815,000. Schroder Investment Management Group purchased a new position in shares of Hycroft Mining during the fourth quarter valued at $36,366,000. Tidal Investments LLC grew its holdings in shares of Hycroft Mining by 125.3% during the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after buying an additional 871,030 shares in the last quarter. Finally, UBS Group AG raised its position in Hycroft Mining by 711.9% during the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after buying an additional 828,625 shares during the period. 7.38% of the stock is owned by hedge funds and other institutional investors.

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.