Eric Sprott Buys 9,344,704 Shares of Hycroft Mining (NASDAQ:HYMC) Stock

Key Points

• Eric Sprott, a major shareholder of Hycroft Mining, purchased 9,344,704 shares of stock at an average price of $4.28 per share, totaling approximately $39.995 million.
• The acquisition increased Sprott's ownership of Hycroft Mining to 17,535,528 shares, representing a 114.09% increase in his stake in the company.
• Following this transaction, Hycroft Mining's stock rose by 11.0%, closing at $6.57 with a trading volume significantly above its average.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) major shareholder Eric Sprott bought 9,344,704 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was purchased at an average price of $4.28 per share, with a total value of $39,995,333.12. Following the completion of the acquisition, the insider owned 17,535,528 shares of the company's stock, valued at approximately $75,052,059.84. This trade represents a 114.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Hycroft Mining Stock Up 11.0%

Shares of HYMC traded up $0.65 during trading hours on Friday, reaching $6.57. The company's stock had a trading volume of 1,624,161 shares, compared to its average volume of 440,583. The firm has a market cap of $257.28 million, a price-to-earnings ratio of -3.30 and a beta of 2.36. Hycroft Mining Holding Corporation has a 1-year low of $1.99 and a 1-year high of $6.75. The company has a 50 day moving average of $4.03 and a two-hundred day moving average of $3.45.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HYMC. Tidal Investments LLC bought a new stake in Hycroft Mining in the fourth quarter valued at $1,919,000. Northern Trust Corp grew its stake in Hycroft Mining by 55.8% during the fourth quarter. Northern Trust Corp now owns 42,241 shares of the company's stock worth $93,000 after buying an additional 15,124 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Hycroft Mining during the first quarter worth about $136,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Hycroft Mining by 33.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,991 shares of the company's stock worth $1,922,000 after buying an additional 154,095 shares during the last quarter. Finally, Shay Capital LLC grew its stake in Hycroft Mining by 100.2% during the second quarter. Shay Capital LLC now owns 246,627 shares of the company's stock worth $772,000 after buying an additional 123,453 shares during the last quarter. 7.38% of the stock is owned by institutional investors.

Hycroft Mining Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.