Timelo Investment Management Inc. Makes New $470,000 Investment in Hycroft Mining Holding Corporation $HYMC

Timelo Investment Management Inc. bought a new position in shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 150,258 shares of the company’s stock, valued at approximately $470,000. Hycroft Mining makes up 0.6% of Timelo Investment Management Inc.’s portfolio, making the stock its 15th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HYMC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 acquiring an additional 47,385 shares in the last quarter. Clear Harbor Asset Management LLC bought a new stake in shares of Hycroft Mining in the 2nd quarter valued at about $141,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Hycroft Mining in the 1st quarter valued at about $136,000. Finally, Jane Street Group LLC bought a new stake in shares of Hycroft Mining in the 1st quarter valued at about $124,000. 7.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Eric Sprott bought 7,690,000 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was bought at an average cost of $6.50 per share, for a total transaction of $49,985,000.00. Following the purchase, the insider directly owned 25,225,528 shares of the company’s stock, valued at approximately $163,965,932. This trade represents a 43.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Rebecca Jennings sold 30,084 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $6.57, for a total transaction of $197,651.88. Following the transaction, the senior vice president directly owned 100,024 shares of the company’s stock, valued at $657,157.68. This represents a 23.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.31% of the stock is owned by company insiders.

Hycroft Mining Stock Down 5.0%

HYMC stock opened at $7.66 on Wednesday. The firm has a 50 day moving average of $6.61 and a 200 day moving average of $4.57. The stock has a market capitalization of $620.23 million, a PE ratio of -4.73 and a beta of 2.47. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83. Hycroft Mining Holding Corporation has a 52 week low of $1.99 and a 52 week high of $9.75.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Hycroft Mining in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hycroft Mining Company Profile

Hycroft Mining Holding Corporation, together with its subsidiaries, operates as a gold and silver development company in the United States. The company holds interests in the Hycroft mine that consists of 30 private parcels with patented claims comprising approximately 1,787 acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres located in the state of Nevada.