Hycroft Mining (NASDAQ:HYMC) Major Shareholder Buys $4,035,000.00 in Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott acquired 500,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was acquired at an average cost of $8.07 per share, with a total value of $4,035,000.00. Following the purchase, the insider owned 25,725,528 shares of the company’s stock, valued at approximately $207,605,010.96. This trade represents a 1.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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 Thursday, November 13th, Eric Sprott bought 500,000 shares of Hycroft Mining stock. The shares were acquired at an average cost of $9.41 per share, for a total transaction of $4,705,000.00.
• On Tuesday, October 14th, Eric Sprott purchased 7,690,000 shares of Hycroft Mining stock. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $49,985,000.00.
• On Wednesday, September 10th, Eric Sprott purchased 9,344,704 shares of Hycroft Mining stock. The stock was acquired at an average price of $4.28 per share, with a total value of $39,995,333.12.

Hycroft Mining Price Performance

Shares of Hycroft Mining stock traded down $0.08 on Friday, hitting $9.06. 1,082,270 shares of the company traded hands, compared to its average volume of 660,944. Hycroft Mining Holding Corporation has a 52 week low of $1.99 and a 52 week high of $9.75. The business has a 50-day simple moving average of $7.06 and a 200 day simple moving average of $4.78. 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 market capitalization of $733.59 million, a P/E ratio of -5.59 and a beta of 2.47.

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.

Institutional Trading of Hycroft Mining

Several institutional investors have recently added to or reduced their stakes in the company. Occudo Quantitative Strategies LP purchased a new position in shares of Hycroft Mining during the third quarter valued at approximately $96,000. XTX Topco Ltd bought a new stake in shares of Hycroft Mining during the 2nd quarter worth approximately $101,000. Jane Street Group LLC purchased a new position in Hycroft Mining during the 1st quarter valued at $124,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Hycroft Mining during the 1st quarter valued at $136,000. Finally, Clear Harbor Asset Management LLC bought a new position in Hycroft Mining in the 2nd quarter valued at $141,000. Institutional investors own 7.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded 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 Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Hycroft Mining Company Profile

Hycroft Mining Holding Corporation, together with its subsidiaries, operates as a gold and silver development company in the United States. The company holds interests in the Hycroft mine that consists of 30 private parcels with patented claims comprising approximately 1,787 acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres located in the state of Nevada.