Eric Sprott Purchases 200,000 Shares of Hycroft Mining (NASDAQ:HYMC) Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott purchased 200,000 shares of the company’s stock in a transaction on Friday, December 26th. The stock was purchased at an average price of $24.93 per share, with a total value of $4,986,000.00. Following the completion of the transaction, the insider owned 31,056,352 shares of the company’s stock, valued at approximately $774,234,855.36. This trade represents a 0.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Eric Sprott also recently made the following trade(s):

• On Monday, December 29th, Eric Sprott bought 400,000 shares of Hycroft Mining stock. The shares were purchased at an average price of $22.70 per share, for a total transaction of $9,080,000.00.
• On Wednesday, December 24th, Eric Sprott bought 100,000 shares of Hycroft Mining stock. The stock was purchased at an average cost of $24.79 per share, with a total value of $2,479,000.00.
• On Friday, December 19th, Eric Sprott purchased 150,000 shares of Hycroft Mining stock. The stock was acquired at an average price of $16.31 per share, with a total value of $2,446,500.00.
• On Wednesday, December 17th, Eric Sprott purchased 220,000 shares of Hycroft Mining stock. The shares were acquired at an average cost of $14.60 per share, for a total transaction of $3,212,000.00.
• On Monday, December 15th, Eric Sprott acquired 200,000 shares of Hycroft Mining stock. The stock was acquired at an average price of $13.02 per share, for a total transaction of $2,604,000.00.
• On Friday, December 12th, Eric Sprott acquired 40,000 shares of Hycroft Mining stock. The stock was acquired at an average cost of $13.30 per share, with a total value of $532,000.00.
• On Thursday, December 11th, Eric Sprott bought 120,000 shares of Hycroft Mining stock. The shares were acquired at an average price of $12.36 per share, with a total value of $1,483,200.00.
• On Wednesday, December 10th, Eric Sprott bought 60,000 shares of Hycroft Mining stock. The shares were acquired at an average cost of $11.64 per share, for a total transaction of $698,400.00.
• On Tuesday, December 9th, Eric Sprott purchased 300,000 shares of Hycroft Mining stock. The stock was acquired at an average cost of $11.74 per share, for a total transaction of $3,522,000.00.
• On Wednesday, December 3rd, Eric Sprott purchased 2,340,824 shares of Hycroft Mining stock. The stock was acquired at an average price of $10.30 per share, with a total value of $24,110,487.20.

Hycroft Mining Price Performance

HYMC traded up $0.22 during trading on Tuesday, reaching $23.48. 3,994,304 shares of the company traded hands, compared to its average volume of 1,005,844. The company has a market cap of $1.90 billion, a P/E ratio of -14.49 and a beta of 2.71. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04. Hycroft Mining Holding Corporation has a 12-month low of $2.00 and a 12-month high of $29.80. The firm has a fifty day simple moving average of $11.86 and a 200 day simple moving average of $7.23.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on HYMC. 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 reiterated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Hycroft Mining

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings 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 acquiring an additional 2,537 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in Hycroft Mining during the third quarter worth approximately $96,000. Virtu Financial LLC raised its position in Hycroft Mining by 20.3% during the third quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after purchasing an additional 2,700 shares during the period. XTX Topco Ltd bought a new stake in shares of Hycroft Mining in the 2nd quarter valued at approximately $101,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Hycroft Mining by 5,537.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 32,413 shares of the company’s stock valued at $201,000 after purchasing an additional 31,838 shares during the last quarter. 7.38% of the stock is currently owned by hedge funds and other institutional investors.

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.