Hycroft Mining (NASDAQ:HYMC) Major Shareholder Purchases 500,000 Shares

Key Points

• Eric Sprott purchased 500,000 shares of Hycroft Mining on November 13 at an average price of $9.41, bringing his direct holding to 26,725,528 shares (a 1.91% increase) valued at about $251.5 million.
• The November 13 trade is the latest in a series of large Sprott purchases this year (including multi-million share buys at ~$4.28, $6.50 and $8.07), indicating significant ongoing accumulation of HYMC stock.
• Hycroft shares trade around $9.06 (near the 52-week high of $9.75) with a market cap of about $733.6 million, but analyst consensus on the stock remains a "Sell".

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) major shareholder Eric Sprott acquired 500,000 shares of the company's stock in a transaction dated Thursday, November 13th. The stock was acquired at an average price of $9.41 per share, for a total transaction of $4,705,000.00. Following the completion of the purchase, the insider directly owned 26,725,528 shares of the company's stock, valued at $251,487,218.48. This trade represents a 1.91% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Tuesday, November 11th, Eric Sprott acquired 500,000 shares of Hycroft Mining stock. The shares were bought at an average cost of $8.07 per share, with a total value of $4,035,000.00.
• On Tuesday, October 14th, Eric Sprott acquired 7,690,000 shares of Hycroft Mining stock. The stock was purchased at an average price of $6.50 per share, with a total value of $49,985,000.00.
• On Wednesday, September 10th, Eric Sprott purchased 9,344,704 shares of Hycroft Mining stock. The shares were acquired at an average price of $4.28 per share, for a total transaction of $39,995,333.12.

Hycroft Mining Price Performance

NASDAQ HYMC traded down $0.08 on Friday, reaching $9.06. The company's stock had a trading volume of 1,082,270 shares, compared to its average volume of 660,944. Hycroft Mining Holding Corporation has a 52 week low of $1.99 and a 52 week high of $9.75. The firm has a market cap of $733.59 million, a PE ratio of -5.59 and a beta of 2.47. The business has a 50-day moving average price of $7.06 and a 200 day moving average price of $4.78. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83.

Hycroft Mining (NASDAQ:HYMC - Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.02.

Hedge Funds Weigh In On Hycroft Mining

A number of institutional investors have recently modified their holdings of HYMC. Geode Capital Management LLC grew its holdings in Hycroft Mining by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company's stock valued at $713,000 after buying an additional 3,146 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Hycroft Mining during the third quarter valued at approximately $96,000. BNP Paribas Financial Markets increased its holdings in shares of Hycroft Mining by 5,537.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 32,413 shares of the company's stock worth $201,000 after buying an additional 31,838 shares during the last quarter. XTX Topco Ltd purchased a new stake in Hycroft Mining during the second quarter valued at about $101,000. Finally, Jane Street Group LLC bought a new stake in Hycroft Mining in the 1st quarter worth approximately $124,000. Institutional investors and hedge funds own 7.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HYMC shares. Wall Street Zen upgraded shares of Hycroft Mining from a "sell" rating to a "hold" rating in a report on Saturday, November 1st. Weiss Ratings reiterated 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, Based on data from MarketBeat, Hycroft Mining currently has a consensus rating of "Sell".

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.

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