Hycroft Mining (NASDAQ:HYMC) Stock Price Up 14.4% – Should You Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) was up 14.4% during trading on Thursday . The stock traded as high as $43.93 and last traded at $45.2670. Approximately 1,884,078 shares were traded 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.

Analyst Ratings Changes

HYMC has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of 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 Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Hycroft Mining Stock Performance

The company has a market cap of $3.88 billion, a P/E ratio of -28.82 and a beta of 2.64. The company’s fifty day moving average is $19.70 and its 200 day moving average is $10.48. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83.

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

Insider Activity at Hycroft Mining

In related news, SVP David Brian Thomas sold 15,000 shares of Hycroft Mining stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $21.21, for a total transaction of $318,150.00. Following the sale, the senior vice president directly owned 81,070 shares in the company, valued at $1,719,494.70. The trade was a 15.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Eric Sprott acquired 200,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was purchased at an average price of $33.21 per share, with a total value of $6,642,000.00. Following the acquisition, the insider owned 36,453,704 shares of the company’s stock, valued at $1,210,627,509.84. This represents a 0.55% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 5,455,824 shares of company stock valued at $73,819,837 in the last quarter. Corporate insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

A number of institutional investors and hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC grew its position in shares of Hycroft Mining by 1,666.7% during the 4th quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after acquiring an additional 1,000 shares during the period. Exchange Traded Concepts LLC purchased a new position in Hycroft Mining during the fourth quarter valued at $572,000. SG Americas Securities LLC purchased a new position in Hycroft Mining during the fourth quarter valued at $320,000. Tidal Investments LLC grew its holdings in Hycroft Mining by 125.3% during the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company’s stock valued at $9,711,000 after purchasing an additional 871,030 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in Hycroft Mining in the third quarter worth about $381,000. 7.38% of the stock is currently owned by hedge funds and other institutional investors.

About Hycroft Mining

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.