Hycroft Mining (NASDAQ:HYMC) Trading 9.4% Higher – Time to Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s share price rose 9.4% during trading on Wednesday . The company traded as high as $8.82 and last traded at $8.86. Approximately 745,380 shares changed hands during trading, an increase of 16% from the average daily volume of 642,799 shares. The stock had previously closed at $8.10.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HYMC. Wall Street Zen upgraded Hycroft Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Hycroft Mining in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hycroft Mining Price Performance

The business has a 50-day moving average of $6.91 and a two-hundred day moving average of $4.72. The company has a current ratio of 19.04, a quick ratio of 18.87 and a debt-to-equity ratio of 2.83. The firm has a market cap of $734.40 million, a P/E ratio of -5.60 and a beta of 2.47.

Hycroft Mining (NASDAQ:HYMC) last announced its quarterly earnings results on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02.

Insiders Place Their Bets

In other Hycroft Mining news, SVP David Brian Thomas sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $7.39, for a total value of $147,800.00. Following the completion of the transaction, the senior vice president directly owned 96,070 shares in the company, valued at approximately $709,957.30. This represents a 17.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Eric Sprott purchased 7,690,000 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were acquired at an average cost of $6.50 per share, with a total value of $49,985,000.00. Following the purchase, the insider directly owned 25,225,528 shares of the company’s stock, valued at approximately $163,965,932. The trade was a 43.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Hycroft Mining

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Hycroft Mining by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 227,603 shares of the company’s stock valued at $713,000 after purchasing an additional 3,146 shares during the period. XTX Topco Ltd acquired a new position in shares of Hycroft Mining in the 2nd quarter valued at about $101,000. Jane Street Group LLC acquired a new position in Hycroft Mining in the first quarter valued at approximately $124,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Hycroft Mining during the 1st quarter worth approximately $136,000. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Hycroft Mining in the 2nd quarter valued at $141,000. 7.38% of the stock is currently owned by institutional investors.

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.