Hycroft Mining (NASDAQ:HYMC) Stock Price Up 2.6% – Still a Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price rose 2.6% during mid-day trading on Friday . The stock traded as high as $34.96 and last traded at $34.59. Approximately 3,954,748 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 5,712,003 shares. The stock had previously closed at $33.72.

Wall Street Analysts Forecast Growth

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

Hycroft Mining Stock Up 2.6%

The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -21.35 and a beta of 2.62. The firm has a fifty day moving average price of $27.23 and a 200 day moving average price of $13.54. 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 Buying and Selling

In other Hycroft Mining news, major shareholder Eric Sprott bought 2,340,824 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was bought at an average cost of $10.30 per share, for a total transaction of $24,110,487.20. Following the completion of the purchase, the insider owned 29,466,352 shares in the company, valued at $303,503,425.60. This represents a 8.63% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 5,755,824 shares of company stock valued at $88,013,837 over the last quarter. 1.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in 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. Tidal Investments LLC lifted its position 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 worth $9,711,000 after purchasing an additional 871,030 shares in the last quarter. UBS Group AG grew its stake in shares of 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 purchasing an additional 828,625 shares during the last quarter. LM Asset IM Inc. acquired a new stake in shares of Hycroft Mining in the second quarter valued at approximately $1,189,000. Finally, Millennium Management LLC acquired a new stake in shares of Hycroft Mining in the third quarter valued at approximately $2,193,000. 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.