Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Here’s What Happened

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) gapped up prior to trading on Tuesday . The stock had previously closed at $35.21, but opened at $39.99. Hycroft Mining shares last traded at $37.6640, with a volume of 1,007,031 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Hycroft Mining Trading Up 11.1%

The company has a market cap of $3.25 billion, a price-to-earnings ratio of -24.01 and a beta of 2.64. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83. The company’s fifty day moving average price is $25.55 and its two-hundred day moving average price is $12.94.

Insider Transactions at Hycroft Mining

In other news, major shareholder Eric Sprott purchased 2,340,824 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average price of $10.30 per share, with a total value of $24,110,487.20. Following the completion of the purchase, the insider directly owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. The trade was a 8.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders acquired 5,755,824 shares of company stock worth $88,013,837. 1.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hycroft Mining

Several institutional investors have recently modified their holdings of HYMC. Vanguard Group Inc. lifted its holdings in shares of Hycroft Mining by 150.2% in the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock valued at $67,402,000 after purchasing an additional 1,702,288 shares in the last quarter. Tidal Investments LLC lifted its stake in Hycroft Mining by 125.3% in the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after acquiring an additional 871,030 shares in the last quarter. UBS Group AG boosted its position in Hycroft Mining by 711.9% during the 3rd quarter. UBS Group AG now owns 945,022 shares of the company’s stock worth $5,859,000 after acquiring an additional 828,625 shares during the last quarter. LM Asset IM Inc. bought a new position in shares of Hycroft Mining during the 2nd quarter worth approximately $1,189,000. Finally, Millennium Management LLC acquired a new stake in shares of Hycroft Mining in the third quarter valued at approximately $2,193,000. 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.