Hycroft Mining Holding Corporation (HYMC) Stock Sees Profit Booking At Higher Level

Gold and silver producer Hycroft Mining Holding Corporation (NASDAQ:HYMC) has not been in the news for multiple weeks now but after having recorded gains in recent days, the stock fell by as much as 13% yesterday.

However, the fall on Thursday was not triggered by negative news but by the decision of some investors to book some of their profits in Hycroft Mining. Back on August 4 the company had announced its financial results for the fiscal second quarter of the year and it could be a good idea to take a look at the numbers in order to get a better idea about Hycroft’s situation.

In the second quarter, Hycroft managed to produce as much as 16,776 ounces of gold and 139,551 ounce of silver. The production numbers were strong considering the fact that they represented 212% year on year rise in case of gold production and 338% in case of silver production.

 On the other hand, the company also managed to sell as much as 17,060 ounces worth of gold and 189,766 ounce of silver. That helped Hycroft in boosting its revenues by as much as $28.4 million year on year. Investors could consider adding the stock to their watch lists.