Hycroft Mining (NASDAQ:HYMC) Sees Unusually-High Trading Volume Following Insider Buying Activity

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) saw an uptick in trading volume on Wednesday following insider buying activity. 635,959 shares traded hands during trading, a decline of 16% from the previous session’s volume of 755,337 shares.The stock last traded at $15.0660 and had previously closed at $13.23.

Specifically, major shareholder Eric Sprott bought 200,000 shares of the stock in a transaction on Monday, December 15th. The stock was bought at an average cost of $13.02 per share, for a total transaction of $2,604,000.00. Following the completion of the purchase, the insider directly owned 30,186,352 shares in the company, valued at approximately $393,026,303.04. The trade was a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Eric Sprott purchased 40,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were purchased at an average price of $13.30 per share, for a total transaction of $532,000.00. Following the purchase, the insider owned 29,986,352 shares in the company, valued at approximately $398,818,481.60. The trade was a 0.13% increase in their position. The SEC filing for this purchase provides additional information. In other Hycroft Mining news, major shareholder Eric Sprott acquired 120,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were purchased at an average price of $12.36 per share, for a total transaction of $1,483,200.00. Following the completion of the purchase, the insider directly owned 29,946,352 shares of the company’s stock, valued at $370,136,910.72. The trade was a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HYMC. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research report 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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hycroft Mining presently has a consensus rating of “Sell”.

Hycroft Mining Stock Up 13.9%

The firm’s fifty day simple moving average is $9.38 and its two-hundred day simple moving average is $6.11. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -9.37 and a beta of 2.71.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position 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 worth $25,000 after purchasing an additional 2,537 shares during the period. Occudo Quantitative Strategies LP acquired a new position in Hycroft Mining during the 3rd quarter worth about $96,000. Virtu Financial LLC boosted its holdings in Hycroft Mining by 20.3% during the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after acquiring an additional 2,700 shares during the period. XTX Topco Ltd purchased a new stake in Hycroft Mining during the second quarter worth about $101,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Hycroft Mining by 5,537.0% in the third quarter. BNP Paribas Financial Markets now owns 32,413 shares of the company’s stock valued at $201,000 after purchasing an additional 31,838 shares during the period. Institutional investors and hedge funds own 7.38% of the company’s stock.

About Hycroft Mining

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.