Hycroft Mining (NASDAQ:HYMC) Stock Price Up 3.6% – Still a Buy?

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMC) rose 3.6% during mid-day trading on Wednesday . The company traded as high as $52.28 and last traded at $48.62. Approximately 5,052,214 shares traded hands during trading, a decline of 3% from the average daily volume of 5,234,206 shares. The stock had previously closed at $46.94.

Analysts Set New Price Targets

HYMC has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hycroft Mining in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Hycroft Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The business’s 50 day moving average price is $36.10 and its 200-day moving average price is $17.62. 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 company has a market cap of $4.18 billion, a PE ratio of -31.09 and a beta of 2.62.

Insider Buying and Selling

In other news, major shareholder Eric Sprott acquired 2,340,824 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was bought at an average cost of $10.30 per share, with a total value of $24,110,487.20. Following the transaction, the insider directly owned 29,466,352 shares in the company, valued at approximately $303,503,425.60. This represents a 8.63% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 4,905,824 shares of company stock valued at $85,581,337. Insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HYMC. FNY Investment Advisers LLC boosted its holdings in Hycroft Mining by 1,666.7% in the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $25,000 after purchasing an additional 1,000 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Hycroft Mining in the 4th quarter valued at approximately $52,000. Wells Fargo & Company MN purchased a new position in shares of Hycroft Mining during the 4th quarter valued at approximately $71,000. Kestra Advisory Services LLC bought a new position in Hycroft Mining during the 4th quarter valued at $81,000. Finally, Bank of America Corp DE grew its holdings in 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 acquiring an additional 2,537 shares in the last quarter. 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.