Hycroft Mining (NASDAQ:HYMC) Stock Price Up 2.4% After Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares rose 2.4% on Monday following insider buying activity. The stock traded as high as $43.34 and last traded at $42.05. Approximately 3,354,776 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 5,270,216 shares. The stock had previously closed at $41.07.

Specifically, major shareholder Eric Sprott bought 150,000 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average cost of $42.05 per share, with a total value of $6,307,500.00. Following the completion of the acquisition, the insider directly owned 36,903,704 shares in the company, valued at approximately $1,551,800,753.20. The trade was a 0.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research 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 company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -25.96 and a beta of 2.61. The stock has a fifty day moving average price of $32.78 and a 200-day moving average price of $16.27.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Hycroft Mining by 150.2% during the fourth 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 during the period. Franklin Resources Inc. acquired a new stake in shares of Hycroft Mining during the 4th quarter worth about $39,815,000. Tidal Investments LLC lifted its holdings in Hycroft Mining by 125.3% during the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after purchasing an additional 871,030 shares during the last quarter. Schroder Investment Management Group acquired a new position in Hycroft Mining in the fourth quarter valued at about $36,366,000. Finally, UBS Group AG grew its stake in Hycroft Mining by 5.4% during the fourth quarter. UBS Group AG now owns 996,148 shares of the company’s stock worth $23,678,000 after buying an additional 51,126 shares during the last quarter. 7.38% of the stock is currently 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.