Hycroft Mining Sees Unusually Large Options Volume (NASDAQ:HYMC)

Hycroft Mining Holding Corporation (NASDAQ:HYMC) saw unusually large options trading on Monday. Traders acquired 9,876 put options on the company. This is an increase of 321% compared to the average daily volume of 2,345 put options.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hycroft Mining currently has a consensus rating of “Sell”.

Insider Buying and Selling

In related news, Director Marni Wieshofer sold 3,859 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $13.37, for a total transaction of $51,594.83. Following the completion of the sale, the director directly owned 70,125 shares of the company’s stock, valued at $937,571.25. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Eric Sprott acquired 150,000 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was purchased at an average price of $16.31 per share, for a total transaction of $2,446,500.00. Following the completion of the transaction, the insider owned 30,756,352 shares in the company, valued at $501,636,101.12. The trade was a 0.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 12,120,824 shares of company stock valued at $97,333,587 over the last ninety days. 1.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Hycroft Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its stake in shares of 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 acquiring an additional 871,030 shares in the last quarter. UBS Group AG raised its holdings in Hycroft Mining by 711.9% during the third quarter. UBS Group AG now owns 945,022 shares of the company’s stock worth $5,859,000 after purchasing an additional 828,625 shares during the last quarter. LM Asset IM Inc. purchased a new stake in Hycroft Mining during the second quarter worth $1,189,000. Millennium Management LLC acquired a new stake in Hycroft Mining in the third quarter valued at $2,193,000. Finally, Two Sigma Investments LP increased its position in shares of Hycroft Mining by 328.7% in the third quarter. Two Sigma Investments LP now owns 387,375 shares of the company’s stock valued at $2,402,000 after buying an additional 297,007 shares in the last quarter. 7.38% of the stock is currently owned by institutional investors and hedge funds.

Hycroft Mining Price Performance

Hycroft Mining stock traded down $1.75 during midday trading on Monday, reaching $23.26. The company’s stock had a trading volume of 7,631,625 shares, compared to its average volume of 993,529. The firm has a market capitalization of $1.88 billion, a PE ratio of -14.36 and a beta of 2.71. Hycroft Mining has a fifty-two week low of $2.00 and a fifty-two week high of $29.80. The stock’s 50 day simple moving average is $11.57 and its 200 day simple moving average is $7.09. The company has a debt-to-equity ratio of 2.83, a quick ratio of 18.87 and a current ratio of 19.04.

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

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.