Hycroft Mining (NASDAQ:HYMC) Stock Price Up 19.5% – Here’s Why

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shot up 19.5% on Tuesday . The company traded as high as $42.15 and last traded at $42.07. 6,010,232 shares were traded during trading, an increase of 2% from the average session volume of 5,889,434 shares. The stock had previously closed at $35.21.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HYMC shares. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hycroft Mining Trading Up 19.5%

The stock has a market cap of $3.49 billion, a PE ratio of -25.97 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 stock’s fifty day moving average price is $25.55 and its 200 day moving average price is $12.94.

Insiders Place Their Bets

In related news, SVP David Brian Thomas sold 15,000 shares of Hycroft Mining stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $21.21, for a total value of $318,150.00. Following the completion of the sale, the senior vice president directly owned 81,070 shares in the company, valued at approximately $1,719,494.70. This trade represents a 15.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Eric Sprott bought 200,000 shares of the stock in a transaction on Thursday, January 29th. The shares were bought at an average price of $45.99 per share, for a total transaction of $9,198,000.00. Following the purchase, the insider directly owned 36,753,704 shares in the company, valued at approximately $1,690,302,846.96. This trade represents a 0.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 5,755,824 shares of company stock valued at $88,013,837. Corporate insiders own 1.31% of the company’s stock.

Institutional Trading of Hycroft Mining

Large investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC lifted its position in Hycroft Mining by 1,666.7% during the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after purchasing an additional 1,000 shares during the period. Bank of America Corp DE lifted its holdings in shares of Hycroft Mining by 166.6% during the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after buying an additional 2,537 shares during the period. Occudo Quantitative Strategies LP bought a new position in shares of Hycroft Mining during the 3rd quarter valued at $96,000. Virtu Financial LLC boosted its stake in shares of Hycroft Mining by 20.3% in the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after buying an additional 2,700 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Hycroft Mining in the second quarter worth $101,000. 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.