Hycroft Mining (NASDAQ:HYMC) Major Shareholder Acquires $39,995,333.12 in 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 purchased 9,344,704 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were acquired at an average price of $4.28 per share, with a total value of $39,995,333.12. Following the purchase, the insider directly owned 17,535,528 shares in the company, valued at $75,052,059.84. This represents a 114.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Hycroft Mining Stock Up 0.8%

Hycroft Mining stock traded up $0.05 during mid-day trading on Wednesday, reaching $6.08. 1,098,618 shares of the company's stock were exchanged, compared to its average volume of 1,025,085. Hycroft Mining Holding Corporation has a one year low of $1.99 and a one year high of $6.75. The business's fifty day simple moving average is $4.27 and its 200 day simple moving average is $3.56. The firm has a market capitalization of $238.09 million, a PE ratio of -3.06 and a beta of 2.36.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HYMC. Northern Trust Corp raised its stake in Hycroft Mining by 55.8% during the 4th quarter. Northern Trust Corp now owns 42,241 shares of the company's stock valued at $93,000 after buying an additional 15,124 shares during the last quarter. Tidal Investments LLC acquired a new stake in Hycroft Mining in the 4th quarter worth approximately $1,919,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Hycroft Mining during the 1st quarter worth approximately $136,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $1,490,000 after acquiring an additional 47,385 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Hycroft Mining in the first quarter valued at about $124,000. 7.38% of the stock is owned by hedge funds and other 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.