Eric Sprott Acquires 60,000 Shares of Hycroft Mining (NASDAQ:HYMC) Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott bought 60,000 shares of the stock in a transaction on Wednesday, December 10th. The stock was bought at an average price of $11.64 per share, for a total transaction of $698,400.00. Following the completion of the purchase, the insider directly owned 29,826,352 shares in the company, valued at approximately $347,178,737.28. The trade was a 0.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Eric Sprott also recently made the following trade(s):

• On Thursday, December 11th, Eric Sprott purchased 120,000 shares of Hycroft Mining stock. The shares were bought at an average price of $12.36 per share, with a total value of $1,483,200.00.
• On Tuesday, December 9th, Eric Sprott purchased 300,000 shares of Hycroft Mining stock. The shares were bought at an average cost of $11.74 per share, with a total value of $3,522,000.00.
• On Wednesday, December 3rd, Eric Sprott acquired 2,340,824 shares of Hycroft Mining stock. The stock was purchased at an average price of $10.30 per share, for a total transaction of $24,110,487.20.
• On Thursday, November 13th, Eric Sprott acquired 500,000 shares of Hycroft Mining stock. The stock was purchased at an average cost of $9.41 per share, for a total transaction of $4,705,000.00.
• On Tuesday, November 11th, Eric Sprott bought 500,000 shares of Hycroft Mining stock. The stock was purchased at an average price of $8.07 per share, with a total value of $4,035,000.00.
• On Tuesday, October 14th, Eric Sprott bought 7,690,000 shares of Hycroft Mining stock. The stock was purchased at an average cost of $6.50 per share, for a total transaction of $49,985,000.00.

Hycroft Mining Trading Up 8.4%

Shares of Hycroft Mining stock opened at $13.40 on Friday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -8.27 and a beta of 2.71. Hycroft Mining Holding Corporation has a 52-week low of $1.99 and a 52-week high of $13.74. The company’s 50-day simple moving average is $9.11 and its 200-day simple moving average is $5.92. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83.

Hycroft Mining (NASDAQ:HYMC) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02.

Analysts Set New Price Targets

A number of research firms recently weighed in on HYMC. Wall Street Zen upgraded 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 report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Hycroft Mining presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Hycroft Mining

A number of institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hycroft Mining by 11.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 459,896 shares of the company’s stock valued at $1,490,000 after purchasing an additional 47,385 shares in the last quarter. Jane Street Group LLC acquired a new stake in Hycroft Mining in the first quarter valued at $124,000. Clear Harbor Asset Management LLC acquired a new stake in Hycroft Mining in the second quarter valued at $141,000. Timelo Investment Management Inc. purchased a new position in shares of Hycroft Mining in the second quarter valued at $470,000. Finally, Geode Capital Management LLC raised its stake in shares of Hycroft Mining by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock worth $713,000 after buying an additional 3,146 shares during the last quarter. Institutional investors and hedge funds own 7.38% of the company’s stock.

About Hycroft Mining

Hycroft Mining Holding Corporation, together with its subsidiaries, operates as a gold and silver development company in the United States. The company holds interests in the Hycroft mine that consists of 30 private parcels with patented claims comprising approximately 1,787 acres, and 3,247 unpatented mining claims that encompass approximately 62,298 acres located in the state of Nevada.