Hycroft Mining (NASDAQ:HYMC) Shares Up 2% - Should You Buy?

Key Points

• Hycroft Mining's stock rose 2% to $4.17, with trading volume down 17% from the average.
• Major shareholder Eric Sprott significantly increased his stake in Hycroft by acquiring 6.35 million shares, boosting his total ownership by nearly 345%.
• Several institutional investors have recently adjusted their holdings in Hycroft Mining, demonstrating increased interest in the company's stock.

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report)'s share price was up 2% during trading on Wednesday . The company traded as high as $4.24 and last traded at $4.17. Approximately 460,001 shares were traded during trading, a decline of 17% from the average daily volume of 557,204 shares. The stock had previously closed at $4.09.

Hycroft Mining Price Performance

The stock has a market cap of $213.42 million, a price-to-earnings ratio of -2.74 and a beta of 2.36. The stock has a fifty day moving average of $3.69 and a 200 day moving average of $3.31.

Insider Transactions at Hycroft Mining

In related news, major shareholder Eric Sprott purchased 6,350,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was bought at an average cost of $3.50 per share, with a total value of $22,225,000.00. Following the completion of the acquisition, the insider owned 8,190,824 shares of the company's stock, valued at $28,667,884. The trade was a 344.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 12,238 shares of company stock valued at $41,867 over the last three months. Insiders own 1.21% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tidal Investments LLC acquired a new position in Hycroft Mining in the fourth quarter valued at approximately $1,919,000. Northern Trust Corp lifted its holdings in Hycroft Mining by 55.8% in the fourth quarter. Northern Trust Corp now owns 42,241 shares of the company's stock valued at $93,000 after acquiring an additional 15,124 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Hycroft Mining in the first quarter valued at approximately $136,000. Renaissance Technologies LLC lifted its holdings in Hycroft Mining by 14.8% in the fourth quarter. Renaissance Technologies LLC now owns 86,679 shares of the company's stock valued at $192,000 after acquiring an additional 11,200 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Hycroft Mining by 33.5% in 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. 7.38% of the stock is owned by institutional investors and hedge funds.

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.