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

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) traded up 3.6% on Wednesday . The stock traded as high as $52.28 and last traded at $48.62. 5,052,214 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 5,234,206 shares. The stock had previously closed at $46.94.

Analysts Set New Price Targets

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

Hycroft Mining Stock Performance

The company has a market cap of $4.04 billion, a PE ratio of -30.01 and a beta of 2.61. The stock’s 50 day simple moving average is $34.03 and its two-hundred day simple moving average is $16.85. 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 other news, major shareholder Eric Sprott bought 2,340,824 shares of Hycroft Mining stock in a transaction that occurred on Wednesday, December 3rd. The shares were purchased at an average price of $10.30 per share, for a total transaction of $24,110,487.20. Following the completion of the acquisition, the insider owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. The trade was a 8.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders acquired 4,905,824 shares of company stock valued at $85,581,337. Company insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC increased its position in shares of Hycroft Mining by 1,666.7% in the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock worth $25,000 after acquiring an additional 1,000 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in Hycroft Mining during the 4th quarter worth $52,000. Wells Fargo & Company MN acquired a new stake in Hycroft Mining in the 4th quarter valued at $71,000. Kestra Advisory Services LLC acquired a new stake in Hycroft Mining in the 4th quarter valued at $81,000. Finally, Bank of America Corp DE raised its position in Hycroft Mining by 166.6% in the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after purchasing an additional 2,537 shares during the period. 7.38% of the stock is owned by institutional investors and hedge funds.

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.