Eric Sprott Purchases 300,000 Shares of Hycroft Mining (NASDAQ:HYMC) Stock

Hycroft Mining Holding Corporation (NASDAQ:HYMC) major shareholder Eric Sprott purchased 300,000 shares of Hycroft Mining stock in a transaction dated Tuesday, December 9th. The stock was bought at an average price of $11.74 per share, for a total transaction of $3,522,000.00. Following the completion of the transaction, the insider directly owned 29,766,352 shares in the company, valued at $349,456,972.48. The trade was a 1.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 stock was purchased at an average price of $12.36 per share, for a total transaction of $1,483,200.00.
• On Wednesday, December 10th, Eric Sprott bought 60,000 shares of Hycroft Mining stock. The stock was purchased at an average price of $11.64 per share, for a total transaction of $698,400.00.
• On Wednesday, December 3rd, Eric Sprott purchased 2,340,824 shares of Hycroft Mining stock. The stock was purchased at an average cost of $10.30 per share, with a total value of $24,110,487.20.
• On Thursday, November 13th, Eric Sprott acquired 500,000 shares of Hycroft Mining stock. The shares were acquired at an average cost of $9.41 per share, for a total transaction of $4,705,000.00.
• On Tuesday, November 11th, Eric Sprott purchased 500,000 shares of Hycroft Mining stock. The stock was acquired 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 shares were bought at an average price of $6.50 per share, for a total transaction of $49,985,000.00.

Hycroft Mining Stock Up 8.4%

Hycroft Mining stock opened at $13.40 on Friday. The company has a 50 day moving average of $9.11 and a 200-day moving average of $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 Holding Corporation has a twelve month low of $1.99 and a twelve month high of $13.74. The stock has a market capitalization of $1.08 billion, a PE ratio of -8.27 and a beta of 2.71.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research note on Wednesday, October 8th. Wall Street Zen raised Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Hycroft Mining

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of 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 acquiring an additional 2,537 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in Hycroft Mining in the third quarter valued at approximately $96,000. Virtu Financial LLC increased its position in shares of Hycroft Mining by 20.3% during the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock worth $99,000 after purchasing an additional 2,700 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Hycroft Mining during the 2nd quarter worth approximately $101,000. Finally, BNP Paribas Financial Markets raised 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 purchasing an additional 31,838 shares in the last quarter. Institutional investors 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.