Hycroft Mining (NASDAQ:HYMC) Major Shareholder Eric Sprott Buys 400,000 Shares

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott bought 400,000 shares of the stock in a transaction dated Monday, December 29th. The shares were purchased at an average cost of $22.70 per share, for a total transaction of $9,080,000.00. Following the completion of the transaction, the insider directly owned 31,456,352 shares of the company’s stock, valued at $714,059,190.40. This trade represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, December 26th, Eric Sprott purchased 200,000 shares of Hycroft Mining stock. The stock was acquired at an average cost of $24.93 per share, with a total value of $4,986,000.00.
• On Wednesday, December 24th, Eric Sprott purchased 100,000 shares of Hycroft Mining stock. The shares were acquired at an average price of $24.79 per share, with a total value of $2,479,000.00.
• On Friday, December 19th, Eric Sprott acquired 150,000 shares of Hycroft Mining stock. The stock was acquired at an average cost of $16.31 per share, for a total transaction of $2,446,500.00.
• On Wednesday, December 17th, Eric Sprott bought 220,000 shares of Hycroft Mining stock. The shares were acquired at an average cost of $14.60 per share, with a total value of $3,212,000.00.
• On Monday, December 15th, Eric Sprott purchased 200,000 shares of Hycroft Mining stock. The stock was acquired at an average cost 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 shares were bought at an average cost of $13.30 per share, with a total value of $532,000.00.
• On Thursday, December 11th, Eric Sprott acquired 120,000 shares of Hycroft Mining stock. The stock was bought at an average cost 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 stock was bought at an average price 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 shares were bought at an average price of $11.74 per share, with a total value of $3,522,000.00.
• On Wednesday, December 3rd, Eric Sprott purchased 2,340,824 shares of Hycroft Mining stock. The stock was bought at an average cost of $10.30 per share, with a total value of $24,110,487.20.

Hycroft Mining Price Performance

Shares of NASDAQ:HYMC opened at $23.48 on Wednesday. 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 market cap of $1.90 billion, a PE ratio of -14.49 and a beta of 2.71. The stock’s fifty day simple moving average is $12.18 and its two-hundred day simple moving average is $7.38. Hycroft Mining Holding Corporation has a 1-year low of $2.00 and a 1-year high of $29.80.

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

Key Stores Impacting Hycroft Mining

Here are the key news stories impacting Hycroft Mining this week:

• Positive Sentiment: Eric Sprott bought a total of 700,000 Hycroft shares across Dec. 24, 26 and 29 (100k @ $24.79, 200k @ $24.93, 400k @ $22.70), spending roughly $16.55 million and increasing his stake to ~31.46M shares (a ~1.29% incremental increase on the most recent filing). Insider accumulation at these price levels is a clear confidence signal and likely adds direct buying pressure/support to the share price. Read More.
• Negative Sentiment: Unusually large put-option activity: traders purchased 9,876 put contracts on Monday — a 321% jump versus the typical daily put volume (~2,345). That represents a materially larger-than-normal bet on downside (roughly 987,600 shares of underlying exposure via standard 100-share contracts) and may signal increased bearish sentiment or hedging demand that can raise implied volatility and exert short-term downward pressure on the stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Hycroft Mining has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Hycroft Mining by 11.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock worth $1,490,000 after purchasing an additional 47,385 shares during the period. Jane Street Group LLC bought a new position in Hycroft Mining during the first quarter valued at $124,000. Clear Harbor Asset Management LLC purchased a new stake in Hycroft Mining in the second quarter worth $141,000. Timelo Investment Management Inc. bought a new stake in shares of Hycroft Mining in the second quarter valued at $470,000. Finally, Geode Capital Management LLC lifted its position in shares of Hycroft Mining by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after buying an additional 3,146 shares during the last quarter. 7.38% of the stock is owned by 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.