Hycroft Mining (NASDAQ:HYMC) Trading Up 7.4% – Still a Buy?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) traded up 7.4% on Friday . The stock traded as high as $38.50 and last traded at $35.55. 3,639,511 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 5,311,717 shares. The stock had previously closed at $33.10.

Analyst Ratings Changes

Several research analysts have issued reports on HYMC shares. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research report 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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Hycroft Mining currently has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The stock has a fifty day simple moving average of $29.64 and a two-hundred day simple moving average of $14.65. The company has a market cap of $2.95 billion, a PE ratio of -21.93 and a beta of 2.62.

Insider Buying and Selling at Hycroft Mining

In other news, major shareholder Eric Sprott purchased 200,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were acquired at an average price of $45.99 per share, with a total value of $9,198,000.00. Following the purchase, the insider directly owned 36,753,704 shares of the company’s stock, valued at $1,690,302,846.96. The trade was a 0.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David Brian Thomas sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $21.21, for a total value of $318,150.00. Following the completion of the sale, the senior vice president owned 81,070 shares in the company, valued at approximately $1,719,494.70. This represents a 15.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired a total of 4,755,824 shares of company stock worth $79,273,837 over the last 90 days. Insiders own 1.31% of the company’s stock.

Institutional Trading of Hycroft Mining

Several large investors have recently modified their holdings of HYMC. FNY Investment Advisers LLC lifted its holdings 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 worth $25,000 after buying an additional 1,000 shares during the last quarter. Bank of America Corp DE lifted its stake in Hycroft Mining by 166.6% during the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock worth $25,000 after purchasing an additional 2,537 shares during the last quarter. Wells Fargo & Company MN acquired a new position in Hycroft Mining in the fourth quarter worth $71,000. Occudo Quantitative Strategies LP bought a new stake in Hycroft Mining during the third quarter valued at $96,000. Finally, Virtu Financial LLC lifted its holdings in Hycroft Mining by 20.3% in the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after acquiring an additional 2,700 shares during the last quarter. 7.38% of the stock is currently owned by institutional investors and hedge funds.

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.