Hycroft Mining (NASDAQ:HYMC) Trading 7.9% Higher – Should You Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares were up 7.9% on Monday . The stock traded as high as $40.98 and last traded at $40.91. Approximately 666,257 shares were traded during trading, a decline of 86% from the average daily volume of 4,916,079 shares. The stock had previously closed at $37.93.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hycroft Mining in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hycroft Mining currently has an average rating of “Sell”.

Hycroft Mining Stock Performance

The company has a market cap of $3.67 billion, a price-to-earnings ratio of -24.86 and a beta of 2.58. The firm’s 50 day simple moving average is $40.40 and its 200-day simple moving average is $21.12.

Insiders Place Their Bets

In other Hycroft Mining news, major shareholder Eric Sprott purchased 400,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average cost of $22.70 per share, for a total transaction of $9,080,000.00. Following the completion of the transaction, the insider owned 31,456,352 shares of the company’s stock, valued at $714,059,190.40. The trade was a 1.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought 1,725,000 shares of company stock worth $54,177,250 in the last quarter. Insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HYMC. Vanguard Group Inc. boosted its holdings in shares of Hycroft Mining by 150.2% during the 4th 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 fourth quarter worth approximately $39,815,000. Tidal Investments LLC boosted its stake in Hycroft Mining by 125.3% during the third 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 $36,366,000. Finally, UBS Group AG grew its holdings in Hycroft Mining by 5.4% in the 4th 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 in 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.