Short Interest in Hycroft Mining Holding Corporation (NASDAQ:HYMC) Increases By 29.2%

Key Points

• Short interest in Hycroft Mining increased by 29.2% to 4,155,505 shares as of Dec. 31, equal to about 5.1% of the stock and a short-interest ratio of 0.6 days.
• Major shareholder Eric Sprott acquired 2,340,824 shares at about $10.30, raising his stake to roughly 29.47 million shares (an 8.63% increase).
• Shares traded at $34.63 (near the 12‑month high of $35.90) with a market cap of $2.88 billion, while analysts’ consensus rating remains “Sell.”

Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 4,155,505 shares, a growth of 29.2% from the December 15th total of 3,217,279 shares. Based on an average daily trading volume, of 6,697,505 shares, the short-interest ratio is presently 0.6 days. Approximately 5.1% of the company's stock are sold short. Approximately 5.1% of the company's stock are sold short. Based on an average daily trading volume, of 6,697,505 shares, the short-interest ratio is presently 0.6 days.

Hycroft Mining Stock Up 0.1%

Shares of NASDAQ:HYMC traded up $0.04 during trading on Friday, hitting $34.63. 3,055,925 shares of the company were exchanged, compared to its average volume of 5,624,063. The company has a debt-to-equity ratio of 2.83, a current ratio of 19.04 and a quick ratio of 18.87. The firm's 50 day moving average price is $17.86 and its 200-day moving average price is $9.73. The stock has a market capitalization of $2.88 billion, a P/E ratio of -21.38 and a beta of 2.64. Hycroft Mining has a 12-month low of $2.05 and a 12-month high of $35.90.

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

Analysts Set New Price Targets

Several brokerages have weighed in on HYMC. Weiss Ratings restated a "sell (d-)" rating on shares of Hycroft Mining in a report on Wednesday, October 8th. Wall Street Zen raised shares of Hycroft Mining from a "sell" rating to a "hold" rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hycroft Mining has a consensus rating of "Sell".

Insider Activity at Hycroft Mining

In related news, major shareholder Eric Sprott acquired 2,340,824 shares of the business's stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average price of $10.30 per share, with a total value of $24,110,487.20. Following the completion of the transaction, the insider owned 29,466,352 shares of the company's stock, valued at $303,503,425.60. The trade was a 8.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 5,455,824 shares of company stock valued at $73,819,837 and have sold 38,859 shares valued at $517,545. 1.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC boosted its stake in shares of Hycroft Mining by 1,666.7% during the fourth quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company's stock worth $25,000 after buying an additional 1,000 shares during the period. Bank of America Corp DE grew its stake in shares of Hycroft Mining by 166.6% in the 3rd quarter. Bank of America Corp DE now owns 4,060 shares of the company's stock valued at $25,000 after purchasing an additional 2,537 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Hycroft Mining in the third quarter valued at approximately $96,000. Virtu Financial LLC raised its stake in shares of Hycroft Mining by 20.3% during the third quarter. Virtu Financial LLC now owns 16,023 shares of the company's stock worth $99,000 after purchasing an additional 2,700 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Hycroft Mining during the second quarter worth approximately $101,000. 7.38% of the stock is currently owned by institutional investors and hedge funds.

Hycroft Mining Company Profile

Hycroft Mining PLC is a precious metals company focused on the exploration, development and operation of the Hycroft Mine, a large oxide gold and silver deposit in northwestern Nevada. The company’s primary activities include open-pit mining, heap leach extraction and carbon adsorption/desorption processing designed to recover gold and silver from crushed ore. Hycroft’s technical team employs conventional mining methods and metallurgical processes to advance resource conversion and optimize recovery rates.

Located on approximately 28,800 hectares in Humboldt County, Nevada, the Hycroft Mine ranks among the largest undeveloped oxide gold-silver deposits in North America.

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