Tag: HYMC Stock

AMC Theatres’ CFO Sean Goodman Joins HYMC Board

April 11, 2022 /
Sean Goodman HYMC Board
Sean Goodman Joins HYMC Board

AMC’s Sean Goodman just joined Hycroft’s (HYMC) board, CEO Diane Garrett announced earlier on Twitter.

Sean Goodman has served as Executive Vice President and Chief Financial Officer of AMC since February 2020.

Now the CFO is joining AMC’s gold mining company Hycroft (HYMC) further strengthening its partnership.

This is big news for HYMC shareholders and we’re going to discuss more about it below.

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AMC’s Sean Goodman Joins Hycroft (HYMC)

Sean Goodman Hycroft HYMC Board
Sean Goodman Hycroft

Hycroft (HYMC) released a press release this morning confirming the partnership with AMC Entertainment’s Sean Goodman.

Sean has more than 30 years of experience in strategic planning, capital markets, and finance.

Prior to AMC, Sean Goodman was the Chief Financial Officer of Asbury Automotive Group from July 2017 to November 2019.

Earlier in his career, Mr. Goodman served in various senior strategy and finance roles at Unifi and The Home Depot.

Sean started his career as an investment banker with Morgan Stanley and in various consulting and public accounting positions.

Mr. Goodman has a Master of Business Administration degree from The Harvard Business School and a Bachelor of Business Science degree (with honors) from the University of Cape Town in South Africa.

Stephen Lang also to join Hycroft (HYMC) board

But Sean Goodman isn’t the only addition to Hycroft’s board.

Stephen Lang has over 40 years of experience in the mining industry, including engineering, development and production at gold, copper, coal and platinum group metals operations.

Mr. Lang is Chair of Hudbay Minerals and was Chief Executive Officer of Centerra Gold Inc. from 2008 to 2012 and served as Centerra’s Board Chair from 2012 to 2019.

Mr. Lang has also held senior operating positions at Stillwater Mining
Company, Barrick Gold Corporation, Rio Algom Limited and Kinross Mining Corporation.

Stephen Lang holds a Bachelor of Science degree and a Master of Mining Engineering degree from the University of Missouri-Rolla.

HYMC price target

HYMC stock has a current price target of $13 according to several analysts.

CNN has one analyst while StockAnalysis has 8 analysts valuating the company at $13.26.

HYMC stock is currently trading at $2.22, that would be an almost 500% gain.

HYMC Stock Forecast

HYMC was heavily shorted prior to its 22% stake acquisition from AMC Entertainment Holdings, Inc.

Hycroft’s short interest has significantly dropped meaning several short positions have closed out.

Early investors in the gold mining company got a chance to reap from the price runup in March.

However, it’s long-term shareholders who are in for potentially massive gains.

The gold and silver mining company has raised a lot of money since its partnership with AMC Entertainment and its shareholders, raising an astonishing $195 million in only two weeks.

With experts on board such as Eric Sprott and Stephen Lang backed up by shareholder capital, Hycroft (HYMC) has a serious arsenal.

Recent gold news: Gold rises

Gold is rising and this can only mean great things for the commodity industry.

Goldman Sachs says the price of gold will continue to rise due to the slowdown of economies due to the Russian-Ukraine conflict.

There has been a steady climb up to $1956/oz, but the bank says we may see gold exceed $2,500 this year.

This puts Hycroft (HYMC) in a very good spot considering they now have the capital to increase production.

Gold tends to rise during bear markets so this could be a great opportunity for Hycroft (HYMC) and shareholders to capitalize from flow of the market.

I think Sean Goodman, Eric Sprott, and Stephen Lang are going to be great assets to the business.

What do you think?

Leave a comment below.

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Hycroft Mining (HYMC) Annual Report, 2021 Highlights, and Events

April 4, 2022 /
Hycroft Mining HYMC
Hycroft Mining (HYMC)

Below you’re going to find Hycroft Mining’s annual report from their press release.

I wanted to publish this report for shareholder invested in HYMC stock.

Hycroft mining released their year ending report for 2021 and also briefly touch on AMC’s acquisition.

If you’d like me to publish more information on Hycroft Mining (HYMC) in the future, then be sure to leave a comment below at the end of the article.

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2021 Financial Highlights

These highlights are described by Hycroft Mining files annual report on form 10-K for the year ended December 31, 2021.

Via. NASDAQ and Hycroft Mining (HYMC) press release.

Production: 

Gold production for the year ended December 31, 2021, of 57,668 ounces exceeded the high end of the guidance range as the process team continued to improve equipment, process control and costs.

Silver production of 355,967 ounces was approximately 20% below guidance due to slower than planned leach kinetics.

Processing of ore on leach pads is currently planned to proceed through the second quarter of 2022.

Sales: 

Sales for the year ended December 31, 2021 were 56,045 ounces of gold (average realized price of $1,794 per ounce) and 397,546 ounces of silver (average realized price of $25.66 per ounce).

Unrestricted Cash Position: 

The Company ended 2021 with $12.3 million of cash on hand and was in compliance with debt covenants

Net Loss and Cash Used: 

Due to high operating costs relative to the associated gold equivalent production and sales volumes and ceasing of mining operations in November, 2021, the Company recorded a net loss of $88.6 million for the year ended December 31, 2022.

Due to the losses from operations, the Company ceased mining activities and is now focused on completing its technical studies and exploration to develop the Hycroft mine through a milling and pressure oxidation process.

The $44.0 million reduction in unrestricted cash since the beginning of the year was primarily due to cash used for operating activities of $37 million, cash used for investing activities of $6.9 million, cash used for financing activities of $5.5 million, and a $5.4 million reduction in restricted cash.

Subsequent Events

HYMC AMC
Hycroft Mining AMC

The Company completed several financing transactions to significantly strengthen its balance sheet, including:

Private placement: The Company completed a private placement with Eric Sprott and AMC Theaters for total gross proceeds of $55.9 million.

At-the-market program: The Company completed an at-the-market equity offering program for gross proceeds of $138.6 million, before deduction of fees and costs.

Reduced debt service requirements and extended debt maturities two years into 2027: The Company amended and restated its first lien credit agreement such that no further principal payments are required until May 31, 2027 and extended the re-payment of its subordinated debt to December 1, 2027 with continuing paid-in-kind interest.

Nasdaq trading: With the recent improvement in the stock price, the Company has regained compliance with the Nasdaq minimum bid price for continued listing.

About Hycroft Mining Holding Corporation

Hycroft Mining HYMC

Hycroft Mining Holding Corporation is a U.S.-based gold and silver development company that owns the Hycroft Mine, a well-established, world-class asset with a significant mineral endowment in Northern Nevada, a tier one mining jurisdiction.

The company is focused on transforming Hycroft into a large-scale mining operation by developing a process for its large sulfide gold and silver mineral resources on site.

HYMC’s earnings call date for the first quarter of 2022 will be released on 5/16.

Additional information is available at hycroftmining.com.

Read: Should you buy HYMC stock or is it a pass?

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AMC’s Hycroft Raises an Astonishing $195m in Two Weeks

March 26, 2022 /
AMC Hycroft $195 million
HYMC News – AMC Hycroft News

AMC’s Hycroft mining company just raised $195 million in only a matter of two weeks!

Corporate media was quick to judge the movie theatre chain’s diversification but as Adam Aron says, let them eat crow!

AMC Entertainment announced on Tuesday, March 15th that it had acquired a 22% stake in Hycroft (HYMC).

Shareholders technically now own silver and gold, but you especially own silver and gold if you’re invested in the company.

HYMC stock is up more than 3% this week but surged almost 22% afterhours on Friday.

Let’s break it down together.

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AMC partners up with billionaire Eric Sprott

Eric Sprott
HYMC News – AMC Hycroft News

Both AMC and billionaire businessman Eric Sprott took a large stake in Hyrcoft (HYMC).

Eric Sprott is known for specializing in precious metals and real assets investing.

He is considered one of the world’s leading gold and silver investors.

Combined, AMC and Mr. Sprott invested $56 million in Hycroft (HYMC), or approximately $28 million each.

CEO and president of AMC Entertainment Adam Aron announced on Friday in a tweet a total of $139 million had been raised in additional equity.

This means AMC’s Hycroft raised $195 million in just two weeks!

The stock soared almost 22% after hours when the announcement was made.

And shareholders are loving the CEO’s moves as a short squeeze could be on the horizon.

HYMC short interest data

HYMC’s current short interest percentage is 49.58%.

If you don’t have a subscription to Ortex don’t worry, I update HYMC’s and other heavily shorted stock’s short interest data daily here.

This is a very high short interest figure for a stock.

When you have a short interest this high it’s possible to squeeze shorts from their positions with momentum.

A sharp increase in price could send short sellers running to close their positions before greater losses accrue.

Hycroft’s utilization rate reached 100 and has bounced between 80-90 in the past few days.

We saw a similar pattern occur last year with AMC before it ran up to $72 per share.

Keep an eye out on this stock.

As the market begins to transition into a bull market, we’re going to see many small and mid-cap size companies gain serious traction.

Related: Should you buy HYMC stock or pass on it?

Are you holding HYMC stock?

Let me know in the comment section below.

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Should You Buy HYMC Stock or Pass on It?

March 16, 2022 /
HYMC Stock
Is HYMC Stock a buy or should you pass on it?

HYMC stock has sparked curiosity after the biggest movie theatre chain company in the world, AMC Entertainment, acquired a 22% stake in the gold mining company, Hycroft.

The news from Adam Aron surprised both AMC shareholders and business personalities alike.

But AMC shareholders are on the fence about purchasing HYMC stock, although some have already jumped in headfirst.

In this article I’m going to go over the information that is currently available to the public.

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HYMC stock surges on AMC acquisition news

HYMC Stock AMC
AMC Acquires Hycroft silver and gold mine company

Hycroft Mining stock was trading only at $0.60 last week and earlier this year.

HYMC stock surged to $1 on Tuesday, March 8th and nearly $2 per share on Friday, March 11th.

Interestingly enough, HYMC’s share price began to surge a week prior to AMC’s official press release, which was published Tuesday, March 15th.

CEO and President of AMC Entertainment Adam Aron mentioned the company is going on offense which sparks much positive sentiment behind the surprising move.

It seems AMC could be hedging against inflation and a volatile market by investing in silver and gold.

Silver and gold have usually been used to hedge against depreciating assets during recessions and economic downturns.

It’s also very possible that AMC could be using Hycroft as a means to accelerate paying off their debt through investors.

This strategy could get AMC Entertainment out of debt quicker while leaving the company with additional cash in their war chest.

If AMC Entertainment is buying into this company, then it’s highly probable it will play in the company’s favor long-term.

Is HYMC stock shorted?

HYMC stock has a short interest of 21.99%, Utilization score of 100, and cost to borrow fee of $260.71.

You can view free daily short interest updates here.

On March 4th HYMC stock had a short interest of only 1%.

It looks as if information was leaked of AMC’s acquisition news because the short interest data began to increase only days before the official announcement was made.

Regardless, the stock became heavily shorted as soon as AMC Entertainment’s press release came out.

It’s very possible we begin to see ‘short and distort‘ campaigns with this new acquisition.

We’ve already begun to see platforms owned by News Corp. such as The Wall Street Journal, Barrons, and MarketWatch ridicule the acquisition.

These companies have long been intertwined with hedge fund narratives in a conflict of interest.

It’s safe to bet the same shorts betting against AMC Entertainment stock are the same shorts betting against HYMC stock.

Does this make HYMC a short squeeze play?

HYMC could see a gamma squeeze, but I don’t think it’s as strong as AMC to see a short squeeze.

This is rather speculative though and should warn investors of the risks involved below.

Hycroft could be an asset that will allow AMC Entertainment to cash out when needed to raise capital for the theatre chain.

If this is the case, it will be a great tool for AMC’s fundamentals in the long run.

However, it’s important to note that the company has complete control of what happens to the stock.

Hycroft released a prospectus stating the following.

“Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment.“

The company may sell or dilute shares at any moment without advisory so there is risk.

Is HYMC stock a buy?

Is HYMC stock a buy
Is HYMC stock a buy?

I would personally love for Adam Aron to provide investors with more information on the long-term plan with Hycroft.

At the moment it seems like it could be a cash cow to hedge against growing inflation and possibly yield liquidity to AMC Entertainment.

HYMC stock could be a good short-term trade while it’s still early.

One CNN Business analyst is forecasting HYMC stock to reach $13.00 over a 12-month.

According to 8 other analysts, the average price target is $13.26.

The market is unpredictable right now with so much short seller activity going on.

You’ll have to make a decision whether such a trade is worth losing if it has the potential to provide you with a 10x return.

Like any new news, tread cautiously and always have a strategy when investing in the market.

If you would like me to cover more of HYMC stock leave a comment below and join the newsletter to be notified with updates.

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AMC Acquires 22% Stake in Silver and Gold Mine Company Hycroft

March 16, 2022 /
Hycroft Mining AMC
Hycroft Mining – AMC Entertainment’s latest investment

AMC just acquired the silver and gold mine company Hycroft at a 22% stake.

CEO and President Adam Aron announced on Twitter AMC is playing on offense with a bold diversification move.

The company announced in a press release they will be receiving an additional 23.4 million warrants in Hycroft at $1.07 per share.

The stock is currently trading around $1.70.

What does this AMC news mean for shareholders and the company?

Let’s discuss it.

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Let’s dive right into it!

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About Hycroft Mining Holding Corporation

Hycroft Mining Holding Corporation
AMC acquires 22% stake in Hycroft Mining Holding Corporation

The 71,000 acre Hycroft Mine in northern Nevada is one of North America’s largest development sites.

Independent third-party studies confirm that the Hycroft Mine has some 15 million ounces of gold deposits and some 600 million ounces of silver deposit.

Making an investment equal to AMC is Eric Sprott, one of the world’s leading gold and silver investors.

Combined, AMC and Mr. Sprott are investing $56 million, which will help Hycroft considerably lengthen its financial runway. 

AMC and Mr. Sprott will each invest $27.9 million in cash in Hycroft in exchange for 23,408,240 units, with each unit consisting of one common share of Hycroft and one common share purchase warrant (the “Units”).

The Units are priced at $1.193, which complies with the minimum bid price required by Nasdaq for an at-the-market purchase.

Adam Aron said this investment is a terrific opportunity to potentially strengthen and enrich the company, creating significant value to AMC shareholders.

Why is AMC investing in mining?

AMC Hycroft investment
AMC Hycroft investment

AMC is taking their expertise in guiding companies going through time of severe liquidity challenges and bringing Hycroft back to life.

“Our strategic investment being announced today is the result of our having identified a company in an unrelated industry that appears to be just like AMC of a year ago. It, too, has rock-solid assets, but for a variety of reasons, it has been facing a severe and immediate liquidity issue. Its share price has been knocked low as a result. We are confident that our involvement can greatly help it to surmount its challenges — to its benefit, and to ours.”

AMC CEO and president, Adam Aron

The company is diversifying its portfolio and creating several streams of income.

Other streams of income aside from acquiring a stake in Hycroft mining company can be seen in NFT royalties, cryptocurrency appreciation, and their Perfectly Popcorn brand coming to retail stores this year.

AMC Entertainment is on a role despite ongoing ‘short and distort‘ campaigns aiming to drive the stock price down.

Even Yahoo News is praising Adam Aron for his move.

I’m curious to know your thoughts.

Leave them in the comment section at the end of the article.

Hycroft short interest skyrcockets

Hycroft mining short interest

Prior to any talks about AMC acquiring the mining company, Hycroft’s (HYMC) short interest was below 1%.

It has now surged to 20.22% with a utilization score of 100.

I will be updating the short interest daily here.

Ortex is even reporting HYMC to be on the NYSE threshold list.

Short sellers got in on this relatively quick.

In fact, Hycroft’s short interest is almost identical to that of AMC’s.

It’s safe to say the people short selling Hycroft mining stock are the same ones shorting AMC Entertainment.

If you would like me to cover more of HYMC stock leave a comment below letting me know.

Read: Should you buy HYMC stock or pass on it?

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