Hycroft Mining (NASDAQ:HYMC) Hits New 12-Month High – Still a Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) reached a new 52-week high on Monday . The stock traded as high as $57.99 and last traded at $55.4650, with a volume of 1892100 shares trading hands. The stock had previously closed at $50.65.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HYMC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Hycroft Mining Stock Performance

The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04. The stock has a fifty day simple moving average of $21.28 and a two-hundred day simple moving average of $11.17. The stock has a market cap of $4.21 billion, a PE ratio of -31.32 and a beta of 2.64.

Hycroft Mining (NASDAQ:HYMC) last posted its earnings results on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02.

Insiders Place Their Bets

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 directly owned 29,466,352 shares of the company’s stock, valued at approximately $303,503,425.60. The trade was a 8.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have bought 5,455,824 shares of company stock valued at $73,819,837. Corporate insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC grew its stake in Hycroft Mining by 1,666.7% during the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after purchasing an additional 1,000 shares in the last quarter. Bank of America Corp DE raised its position in shares of Hycroft Mining by 166.6% in the 3rd 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 in the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Hycroft Mining during the 3rd quarter valued at approximately $96,000. Virtu Financial LLC grew its position in shares of Hycroft Mining by 20.3% during the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after buying an additional 2,700 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Hycroft Mining during the second quarter worth approximately $101,000. Hedge funds and other institutional investors own 7.38% of the company’s stock.

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.