Hycroft Mining (NASDAQ:HYMC) Shares Up 8.7% – Should You Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price shot up 8.7% during mid-day trading on Tuesday . The stock traded as high as $44.95 and last traded at $44.1130. 1,603,387 shares were traded during trading, a decline of 68% from the average session volume of 5,079,993 shares. The stock had previously closed at $40.60.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Hycroft Mining Stock Up 14.3%

The business has a 50-day simple moving average of $38.54 and a 200-day simple moving average of $19.58. The stock has a market cap of $4.22 billion, a P/E ratio of -28.66 and a beta of 2.58.

Insider Transactions at Hycroft Mining

In other news, major shareholder Eric Sprott bought 400,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average price of $22.70 per share, for a total transaction of $9,080,000.00. Following the acquisition, the insider directly owned 31,456,352 shares of the company’s stock, valued at $714,059,190.40. The trade was a 1.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 2,365,000 shares of company stock valued at $62,706,850. Company insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

Institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hycroft Mining by 11.5% during 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 last quarter. Jane Street Group LLC bought a new position in Hycroft Mining in the 1st quarter worth approximately $124,000. Geode Capital Management LLC lifted its holdings in shares of Hycroft Mining by 1.4% during the second quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after buying an additional 3,146 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Hycroft Mining in the second quarter valued at approximately $101,000. Finally, LM Asset IM Inc. acquired a new stake in shares of Hycroft Mining in the second quarter worth $1,189,000. 7.38% of the stock is currently owned by institutional investors.

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.