Hycroft Mining Holding Corporation (NASDAQ:HYMC) Short Interest Up 25.9% in March

Key Points

• Short interest up 25.9% in March to 9,486,957 shares, equal to about 10.6% of the stock and a days-to-cover ratio of 2.3 based on average daily volume.
• Insider activity was mixed: SVP Rebecca Jennings sold 9,071 shares while major shareholder Eric Sprott purchased 200,000 shares for $7.73M; insiders have acquired 750,000 shares in the last 90 days and now own 0.77% of the company.
• Weiss Ratings reissued a Sell (D-) and the consensus analyst rating is "Sell," while HYMC trades near $40.17 with a $3.66 billion market cap and a one‑year range of $2.71–$58.73, indicating high volatility.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 9,486,957 shares, an increase of 25.9% from the March 15th total of 7,537,437 shares. Based on an average daily trading volume, of 4,132,793 shares, the days-to-cover ratio is currently 2.3 days. Approximately 10.6% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Hycroft Mining in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of "Sell".

Insider Buying and Selling

In other Hycroft Mining news, SVP Rebecca Jennings sold 9,071 shares of Hycroft Mining stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $39.33, for a total value of $356,762.43. Following the transaction, the senior vice president owned 215,794 shares of the company's stock, valued at approximately $8,487,178.02. The trade was a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Eric Sprott purchased 200,000 shares of the business's stock in a transaction on Thursday, April 9th. The stock was bought at an average cost of $38.67 per share, for a total transaction of $7,734,000.00. Following the purchase, the insider owned 37,303,704 shares of the company's stock, valued at approximately $1,442,534,233.68. This represents a 0.54% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 750,000 shares of company stock worth $32,993,500. Insiders own 0.77% of the company's stock.

Hedge Funds Weigh In On Hycroft Mining

A number of institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Hycroft Mining during the fourth quarter worth $3,328,000. Virtu Financial LLC increased its holdings in Hycroft Mining by 194.6% during the fourth quarter. Virtu Financial LLC now owns 47,208 shares of the company's stock worth $1,122,000 after buying an additional 31,185 shares during the last quarter. Regal Partners Ltd acquired a new position in Hycroft Mining during the fourth quarter worth $7,480,000. Garton & Associates Financial Advisors LLC acquired a new position in Hycroft Mining during the fourth quarter worth $52,000. Finally, Millennium Management LLC increased its holdings in Hycroft Mining by 61.6% during the fourth quarter. Millennium Management LLC now owns 571,526 shares of the company's stock worth $13,585,000 after buying an additional 217,866 shares during the last quarter. 7.38% of the stock is currently owned by institutional investors and hedge funds.

Hycroft Mining Stock Down 0.4%

Shares of HYMC stock traded down $0.16 during trading on Thursday, reaching $40.17. The company's stock had a trading volume of 905,116 shares, compared to its average volume of 4,430,523. The business has a fifty day moving average price of $38.78 and a 200-day moving average price of $25.34. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -24.92 and a beta of 2.91. Hycroft Mining has a one year low of $2.71 and a one year high of $58.73.

About Hycroft Mining

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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