Hycroft Mining (NASDAQ:HYMC) Stock Price Down 5.1% - What's Next?

Key Points

• Hycroft Mining's stock price dropped 5.1% on Thursday, closing at $5.77 after reaching a low of $5.69, with trading volume down 27% from its average.
• Insider transactions showed a significant 23.12% decrease in the position of SVP Rebecca Jennings, while major shareholder Eric Sprott increased their stake by 114.09%.
• Institutional investors now hold 7.38% of Hycroft Mining's stock, with notable increases from several hedge funds in recent quarters.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) shares fell 5.1% on Thursday . The stock traded as low as $5.69 and last traded at $5.77. 783,236 shares traded hands during trading, a decline of 27% from the average session volume of 1,072,577 shares. The stock had previously closed at $6.08.

Hycroft Mining Stock Performance

The company has a market capitalization of $262.37 million, a price-to-earnings ratio of -3.37 and a beta of 2.36. The firm's 50 day simple moving average is $4.42 and its 200-day simple moving average is $3.65.

Insider Buying and Selling

In other news, SVP Rebecca Jennings sold 30,084 shares of the firm's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $6.57, for a total value of $197,651.88. Following the sale, the senior vice president owned 100,024 shares in the company, valued at approximately $657,157.68. This trade represents a 23.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Eric Sprott bought 9,344,704 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were bought at an average cost of $4.28 per share, for a total transaction of $39,995,333.12. Following the transaction, the insider directly owned 17,535,528 shares of the company's stock, valued at $75,052,059.84. This trade represents a 114.09% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.21% of the company's stock.

Institutional Trading of Hycroft Mining

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. LM Asset IM Inc. acquired a new stake in Hycroft Mining during the second quarter valued at approximately $1,189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 valued at $1,922,000 after acquiring an additional 154,095 shares during the period. Timelo Investment Management Inc. bought a new position in shares of Hycroft Mining during the second quarter valued at $470,000. Shay Capital LLC boosted its stake in shares of Hycroft Mining by 100.2% in the 2nd quarter. Shay Capital LLC now owns 246,627 shares of the company's stock valued at $772,000 after purchasing an additional 123,453 shares in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Hycroft Mining in the 2nd quarter worth about $141,000. 7.38% of the stock is currently owned by institutional investors and hedge funds.

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.