Key Points
- Eric Sprott bought 120,000 HYMC shares on Dec. 11 at $12.36 ($1,483,200), raising his holdings to 29,946,352 shares and continuing a recent streak of large purchases (including 7.69M on Oct. 14 and 2.34M on Dec. 3), signaling aggressive accumulation.
- Shares climbed about 6.0% to $12.36 after the filing; Hycroft has a roughly $1.0B market cap, negative earnings, a high debt-to-equity ratio (2.83), and an average analyst rating of "Sell."
Hycroft Mining Holding Corporation (NASDAQ:HYMC - Get Free Report) major shareholder Eric Sprott bought 60,000 shares of the company's stock in a transaction that occurred on Wednesday, December 10th. The stock was acquired at an average cost of $11.64 per share, for a total transaction of $698,400.00. Following the acquisition, the insider directly owned 29,826,352 shares of the company's stock, valued at $347,178,737.28. The trade was a 0.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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, December 11th, Eric Sprott acquired 120,000 shares of Hycroft Mining stock. The shares were acquired at an average cost of $12.36 per share, with a total value of $1,483,200.00.
- On Tuesday, December 9th, Eric Sprott acquired 300,000 shares of Hycroft Mining stock. The stock was acquired at an average price of $11.74 per share, for a total transaction of $3,522,000.00.
- On Wednesday, December 3rd, Eric Sprott bought 2,340,824 shares of Hycroft Mining stock. The shares were acquired at an average price of $10.30 per share, with a total value of $24,110,487.20.
- On Thursday, November 13th, Eric Sprott purchased 500,000 shares of Hycroft Mining stock. The stock was acquired at an average cost of $9.41 per share, with a total value of $4,705,000.00.
- On Tuesday, November 11th, Eric Sprott purchased 500,000 shares of Hycroft Mining stock. The stock was bought at an average price 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 shares were bought at an average price of $6.50 per share, with a total value of $49,985,000.00.
Hycroft Mining Trading Up 6.0%
Shares of Hycroft Mining stock opened at $12.36 on Friday. 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 company has a fifty day simple moving average of $8.97 and a 200-day simple moving average of $5.85. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -7.63 and a beta of 2.71. Hycroft Mining Holding Corporation has a 12-month low of $1.99 and a 12-month high of $13.00.
Hycroft Mining (NASDAQ:HYMC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in Hycroft Mining by 125.3% in the third quarter. Tidal Investments LLC now owns 1,566,287 shares of the company's stock valued at $9,711,000 after purchasing an additional 871,030 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Hycroft Mining during the 3rd quarter worth approximately $381,000. Millennium Management LLC purchased a new position in shares of Hycroft Mining during the 3rd quarter worth approximately $2,193,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Hycroft Mining by 43.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 882,624 shares of the company's stock valued at $5,472,000 after buying an additional 268,633 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of Hycroft Mining in the third quarter valued at approximately $284,000. 7.38% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Hycroft Mining in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Hycroft Mining from a "sell" rating to a "hold" rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of "Sell".
Get Our Latest Report on HYMC
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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