Key Points
- Eric Sprott purchased 2,340,824 shares of Hycroft Mining on Dec. 3 at an average of $10.30 per share for a total of $24.11 million, raising his direct stake to 29,466,352 shares valued at about $303.5 million (an 8.63% increase).
- The Dec. 3 buy continues an aggressive accumulation since September — including 9.34M shares on Sept. 10 at $4.28, 7.69M on Oct. 14 at $6.50, and two 500k purchases in November — indicating sustained insider buying.
- Hycroft stock opened at $11.45 (down ~4.3%), with a market cap of about $927.1 million, negative EPS, and a 12‑month trading range of $1.99–$12.50.
Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) major shareholder Eric Sprott purchased 2,340,824 shares of the firm's stock in a transaction dated Wednesday, December 3rd. The shares were bought at an average cost of $10.30 per share, for a total transaction of $24,110,487.20. Following the completion of the purchase, the insider directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Eric Sprott also recently made the following trade(s):
- On Thursday, November 13th, Eric Sprott acquired 500,000 shares of Hycroft Mining stock. The stock was bought at an average price of $9.41 per share, with a total value of $4,705,000.00.
- On Tuesday, November 11th, Eric Sprott acquired 500,000 shares of Hycroft Mining stock. The shares were purchased at an average cost of $8.07 per share, for a total transaction of $4,035,000.00.
- On Tuesday, October 14th, Eric Sprott acquired 7,690,000 shares of Hycroft Mining stock. The stock was purchased at an average price of $6.50 per share, for a total transaction of $49,985,000.00.
- On Wednesday, September 10th, Eric Sprott bought 9,344,704 shares of Hycroft Mining stock. The shares were purchased at an average price of $4.28 per share, with a total value of $39,995,333.12.
Hycroft Mining Trading Down 4.3%
Shares of HYMC opened at $11.45 on Friday. The stock's fifty day simple moving average is $8.54 and its 200-day simple moving average is $5.60. The firm has a market capitalization of $927.11 million, a PE ratio of -7.07 and a beta of 2.71. Hycroft Mining Holding Corporation has a 12-month low of $1.99 and a 12-month high of $12.50. The company has a quick ratio of 18.87, a current ratio of 19.04 and a debt-to-equity ratio of 2.83.
Hycroft Mining (NASDAQ:HYMC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.02.
Analyst Ratings Changes
HYMC has been the subject of a number of recent research reports. Wall Street Zen raised shares of Hycroft Mining from a "sell" rating to a "hold" rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Hycroft Mining in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of "Sell".
Read Our Latest Stock Analysis on HYMC
Institutional Trading of Hycroft Mining
A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in Hycroft Mining by 166.6% during the third 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 period. Occudo Quantitative Strategies LP acquired a new stake in Hycroft Mining in the third quarter worth $96,000. Virtu Financial LLC boosted its position 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 in the last quarter. XTX Topco Ltd bought a new position in shares of Hycroft Mining during the second quarter worth $101,000. Finally, Jane Street Group LLC acquired a new position in shares of Hycroft Mining in the 1st quarter valued at $124,000. 7.38% of the stock is currently owned by institutional investors and hedge funds.
About Hycroft Mining
(
Get Free Report)
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.
Further Reading
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