Hycroft Mining (NASDAQ:HYMC) Reaches New 52-Week High – Should You Buy?

Hycroft Mining Holding Corporation (NASDAQ:HYMC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.33 and last traded at $28.4090, with a volume of 1519215 shares traded. The stock had previously closed at $28.15.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HYMC. Wall Street Zen raised 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 data from MarketBeat, the company has an average rating of “Sell”.

Hycroft Mining Stock Performance

The company has a market cap of $2.17 billion, a price-to-earnings ratio of -16.16 and a beta of 2.64. 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 has a fifty day simple moving average of $14.46 and a 200 day simple moving average of $8.32.

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

Insider Buying and Selling at Hycroft Mining

In other Hycroft Mining news, major shareholder Eric Sprott acquired 400,000 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average price of $22.70 per share, with a total value of $9,080,000.00. Following the transaction, the insider owned 31,456,352 shares of the company’s stock, valued at approximately $714,059,190.40. This trade represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Brian Thomas sold 15,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $21.21, for a total value of $318,150.00. Following the sale, the senior vice president owned 81,070 shares of the company’s stock, valued at approximately $1,719,494.70. The trade was a 15.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders bought 12,820,824 shares of company stock worth $113,878,587 and sold 38,859 shares worth $517,545. Corporate insiders own 1.31% of the company’s stock.

Institutional Trading of Hycroft Mining

Hedge funds have recently modified their holdings of the company. LM Asset IM Inc. bought a new stake in shares of Hycroft Mining during the second quarter valued at approximately $1,189,000. Clear Harbor Asset Management LLC acquired a new stake in Hycroft Mining during the second quarter worth $141,000. Timelo Investment Management Inc. bought a new stake in Hycroft Mining in the 2nd quarter valued at $470,000. Virtu Financial LLC raised its stake in shares of Hycroft Mining by 20.3% in the 3rd quarter. Virtu Financial LLC now owns 16,023 shares of the company’s stock valued at $99,000 after buying an additional 2,700 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Hycroft Mining in the 3rd quarter valued at $96,000. Institutional investors own 7.38% of the company’s stock.

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.