Hycroft Mining (NASDAQ:HYMC) Sees Strong Trading Volume – Should You Buy?

by · The Cerbat Gem

Shares of Hycroft Mining Holding Corporation (NASDAQ:HYMCGet Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,092,298 shares were traded during trading, an increase of 10% from the previous session’s volume of 993,276 shares.The stock last traded at $23.7570 and had previously closed at $23.26.

Wall Street Analyst Weigh In

HYMC has been the topic of several research analyst reports. Wall Street Zen raised 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 research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Hycroft Mining has an average rating of “Sell”.

Read Our Latest Research Report on HYMC

Hycroft Mining Stock Up 5.2%

The stock’s fifty day moving average price is $11.86 and its 200-day moving average price is $7.23. 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 capitalization of $1.98 billion, a price-to-earnings ratio of -15.11 and a beta of 2.71.

Hycroft Mining (NASDAQ:HYMCGet Free Report) last issued 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.

Insiders Place Their Bets

In related news, major shareholder Eric Sprott purchased 7,690,000 shares of the stock in a transaction on Tuesday, October 14th. The shares were purchased at an average price of $6.50 per share, with a total value of $49,985,000.00. Following the transaction, the insider directly owned 25,225,528 shares of the company’s stock, valued at $163,965,932. This trade represents a 43.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 12,120,824 shares of company stock valued at $97,333,587 in the last ninety days. 1.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hycroft Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in Hycroft Mining by 166.6% in the third quarter. Bank of America Corp DE now owns 4,060 shares of the company’s stock valued at $25,000 after buying an additional 2,537 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of Hycroft Mining during the 3rd quarter worth approximately $96,000. Virtu Financial LLC raised its stake in Hycroft Mining by 20.3% in the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after acquiring an additional 2,700 shares during the period. XTX Topco Ltd acquired a new stake in Hycroft Mining during the 2nd quarter valued at $101,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Hycroft Mining by 5,537.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 32,413 shares of the company’s stock worth $201,000 after buying an additional 31,838 shares during the last quarter. Institutional investors own 7.38% of the company’s stock.

About Hycroft Mining

(Get Free Report)

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.

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