Hycroft Mining (NASDAQ:HYMC) Stock Price Up 9.4% - What's Next?

Key Points

• Hycroft Mining shares rose 9.4% during trading on Monday, reaching a last traded price of $8.54 after closing at $7.80.
• Despite the stock's recent gain, Weiss Ratings reiterated a "sell (d-)" rating, indicating a consensus rating of "Sell" among analysts.
• Major shareholder Eric Sprott significantly increased his stake by acquiring over 9 million shares, boosting his ownership by 114.09%, while a senior vice president sold some of their shares, indicating mixed insider sentiment.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) shares rose 9.4% during trading on Monday . The company traded as high as $8.48 and last traded at $8.54. Approximately 259,838 shares traded hands during trading, a decline of 55% from the average daily volume of 581,222 shares. The stock had previously closed at $7.80.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Hycroft Mining in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of "Sell".

Hycroft Mining Trading Up 11.5%

The company's 50-day moving average price is $5.69 and its two-hundred day moving average price is $4.17. The company has a market cap of $675.64 million, a P/E ratio of -4.37 and a beta of 2.51.

Insider Buying and Selling at Hycroft Mining

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HYMC. LM Asset IM Inc. acquired a new stake in shares of Hycroft Mining in the second quarter worth $1,189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Hycroft Mining by 33.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,991 shares of the company's stock worth $1,922,000 after purchasing an additional 154,095 shares during the last quarter. Timelo Investment Management Inc. acquired a new stake in Hycroft Mining in the 2nd quarter worth $470,000. Shay Capital LLC increased its holdings in shares of Hycroft Mining by 100.2% during the 2nd quarter. Shay Capital LLC now owns 246,627 shares of the company's stock worth $772,000 after purchasing an additional 123,453 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Hycroft Mining during the second quarter valued at 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.

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