Hycroft Mining (NASDAQ:HYMC) Stock Price Up 14.4% – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC) was up 14.4% on Thursday . The company traded as high as $43.93 and last traded at $45.2670. Approximately 1,884,078 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 4,589,985 shares. The stock had previously closed at $39.57.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented 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 research report on Wednesday, October 8th. One investment 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 Trading Up 18.0%

The stock has a market capitalization of $3.88 billion, a PE ratio of -28.82 and a beta of 2.64. 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 company has a 50 day moving average of $19.70 and a two-hundred day moving average of $10.48.

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

Insider Transactions at Hycroft Mining

In other news, major shareholder Eric Sprott acquired 2,340,824 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were bought at an average cost of $10.30 per share, with a total value of $24,110,487.20. Following the transaction, the insider owned 29,466,352 shares in the company, valued at approximately $303,503,425.60. This trade represents a 8.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders bought 5,455,824 shares of company stock worth $73,819,837. 1.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Tidal Investments LLC grew its stake in Hycroft Mining by 125.3% during the 3rd quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock worth $9,711,000 after buying an additional 871,030 shares during the last quarter. UBS Group AG boosted its position in shares of Hycroft Mining by 711.9% during the 3rd quarter. UBS Group AG now owns 945,022 shares of the company’s stock valued at $5,859,000 after purchasing an additional 828,625 shares in the last quarter. LM Asset IM Inc. acquired a new position in Hycroft Mining in the second quarter worth approximately $1,189,000. Millennium Management LLC bought a new stake in shares of Hycroft Mining during the 3rd quarter worth $2,193,000. Finally, Two Sigma Investments LP raised its holdings in Hycroft Mining by 328.7% during the 3rd quarter. Two Sigma Investments LP now owns 387,375 shares of the company’s stock worth $2,402,000 after buying an additional 297,007 shares during the period. Hedge funds and other institutional investors own 7.38% of the company’s stock.

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.