Hycroft Mining (NASDAQ:HYMC) Shares Gap Up – Here’s What Happened

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $35.21, but opened at $39.99. Hycroft Mining shares last traded at $37.6640, with a volume of 1,007,031 shares trading hands.

Analyst Upgrades and Downgrades

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

Hycroft Mining Stock Performance

The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -24.01 and a beta of 2.64. The stock has a 50-day moving average price of $25.55 and a 200-day moving average price of $12.94.

Insider Activity at Hycroft Mining

In related news, major shareholder Eric Sprott acquired 2,340,824 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were bought at an average cost of $10.30 per share, with a total value of $24,110,487.20. Following the completion of the transaction, the insider directly owned 29,466,352 shares of the company’s stock, valued at $303,503,425.60. This trade represents a 8.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 5,755,824 shares of company stock valued at $88,013,837 in the last 90 days. 1.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HYMC. FNY Investment Advisers LLC raised its holdings in Hycroft Mining by 1,666.7% in 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. Bank of America Corp DE increased its stake in shares of Hycroft Mining by 166.6% during the third 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. Virtu Financial LLC lifted 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 worth $99,000 after purchasing an additional 2,700 shares during the last quarter. Geode Capital Management LLC boosted its stake in Hycroft Mining by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after purchasing an additional 3,146 shares during the period. Finally, Mountain Capital Investment Advisors Inc. bought a new position in Hycroft Mining during the 4th quarter worth $156,000. Institutional investors and hedge funds own 7.38% of the company’s stock.

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.