Hycroft Mining (NASDAQ:HYMC) Trading 1% Higher – Time to Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price shot up 1% during mid-day trading on Friday . The company traded as high as $51.25 and last traded at $50.37. 5,794,727 shares changed hands during trading, an increase of 11% from the average session volume of 5,224,540 shares. The stock had previously closed at $49.87.

Wall Street Analysts Forecast Growth

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

Hycroft Mining Stock Performance

The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of -31.09 and a beta of 2.62. The firm has a fifty day moving average of $35.42 and a 200 day moving average of $17.30. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87.

Insider Buying and Selling at Hycroft Mining

In other Hycroft Mining news, SVP David Brian Thomas sold 15,000 shares of Hycroft Mining stock in a transaction 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 transaction, the senior vice president owned 81,070 shares of the company’s stock, valued at approximately $1,719,494.70. The trade was a 15.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Eric Sprott bought 150,000 shares of the stock in a transaction dated Friday, February 20th. The shares were purchased at an average cost of $42.05 per share, for a total transaction of $6,307,500.00. Following the completion of the purchase, the insider owned 36,903,704 shares in the company, valued at approximately $1,551,800,753.20. This represents a 0.41% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 4,905,824 shares of company stock worth $85,581,337. 1.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hycroft Mining

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Hycroft Mining by 150.2% during the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after acquiring an additional 1,702,288 shares during the period. Franklin Resources Inc. acquired a new position in shares of Hycroft Mining during the 4th quarter worth about $39,815,000. Schroder Investment Management Group purchased a new position in Hycroft Mining in the 4th quarter valued at about $36,366,000. Tidal Investments LLC boosted its holdings in Hycroft Mining by 125.3% in the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after buying an additional 871,030 shares during the last quarter. Finally, UBS Group AG raised its holdings 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 acquiring an additional 828,625 shares during the last quarter. 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.