Hycroft Mining (NASDAQ:HYMC) Trading 2% Higher - Here's Why

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 - ) shares traded up 2% during trading on Wednesday . The stock traded as high as $4.24 and last traded at $4.17. 460,001 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 557,204 shares. The stock had previously closed at $4.09.

Hycroft Mining Price Performance

The company has a market cap of $163.30 million, a PE ratio of -2.10 and a beta of 2.10. The company has a 50-day moving average of $3.57 and a 200 day moving average of $3.25.

Insider Transactions at Hycroft Mining

In other news, major shareholder Eric Sprott acquired 6,350,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was acquired at an average price of $3.50 per share, with a total value of $22,225,000.00. Following the completion of the purchase, the insider directly owned 8,190,824 shares in the company, valued at approximately $28,667,884. This trade represents a 344.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 12,238 shares of company stock valued at $41,867 over the last ninety days. 1.21% of the stock is owned by company insiders.

Institutional Trading of Hycroft Mining

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Hycroft Mining by 1.4% in the second quarter. Geode Capital Management LLC now owns 227,603 shares of the company's stock worth $713,000 after purchasing an additional 3,146 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Hycroft Mining by 14.8% in the fourth quarter. Renaissance Technologies LLC now owns 86,679 shares of the company's stock worth $192,000 after purchasing an additional 11,200 shares during the last quarter. Northern Trust Corp lifted its stake in Hycroft Mining by 55.8% in the fourth quarter. Northern Trust Corp now owns 42,241 shares of the company's stock worth $93,000 after purchasing an additional 15,124 shares during the last quarter. XTX Topco Ltd bought a new stake in Hycroft Mining in the second quarter worth about $101,000. Finally, Jane Street Group LLC bought a new stake in Hycroft Mining in the first quarter worth about $124,000. Institutional investors own 7.38% of the company's stock.

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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