Hycroft Mining (NASDAQ:HYMC) Trading 11.6% Higher on Insider Buying Activity

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price traded up 11.6% during trading on Tuesday following insider buying activity. The company traded as high as $47.47 and last traded at $46.94. 4,105,843 shares changed hands during trading, a decline of 22% from the average session volume of 5,238,487 shares. The stock had previously closed at $42.05.

Specifically, major shareholder Eric Sprott purchased 150,000 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was acquired at an average price of $42.05 per share, with a total value of $6,307,500.00. Following the purchase, the insider directly owned 36,903,704 shares in the company, valued at approximately $1,551,800,753.20. This represents a 0.41% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

HYMC has been the subject of several recent research reports. Wall Street Zen raised shares of Hycroft Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Hycroft Mining Stock Performance

The stock has a 50-day moving average price of $33.36 and a 200 day moving average price of $16.54. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -28.98 and a beta of 2.61.

Institutional Investors Weigh In On Hycroft Mining

A number of large investors have recently modified their holdings of HYMC. Vanguard Group Inc. grew its holdings in shares of Hycroft Mining by 150.2% during the fourth quarter. Vanguard Group Inc. now owns 2,835,578 shares of the company’s stock worth $67,402,000 after purchasing an additional 1,702,288 shares during the last quarter. Franklin Resources Inc. purchased a new position in Hycroft Mining during the 4th quarter worth approximately $39,815,000. Tidal Investments LLC grew its stake in 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 buying an additional 871,030 shares during the last quarter. Schroder Investment Management Group acquired a new position in Hycroft Mining during the fourth quarter worth approximately $36,366,000. Finally, UBS Group AG lifted its stake in Hycroft Mining by 5.4% in the fourth quarter. UBS Group AG now owns 996,148 shares of the company’s stock valued at $23,678,000 after buying an additional 51,126 shares during the last quarter. 7.38% of the stock is 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.