If you are currently looking into any mining stock this week then you could do well to start tracking the Hycroft Mining (NASDAQ:HYMC) stock. The stock has been in the middle of a remarkable rally over the course of the past week. This past Friday the stock went up by as much as 25% amidst heavy interest and took the cumulative gains over the course of the past week to as much as 470%.
Trading Data
On Friday, HYMC stock soared 25.33% to $1.88 with more than 341.47 million shares traded, compared to its average volume of 13.96 million shares. The stock moved within a range of $1.3600 – 2.6500 after opening trading at $1.53.
What’s The Buzz?
Hycroft is a fairly small company and commands a market valuation that is lower than $100 million. The stock came into focus among investors in a big way primarily due to the soaring prices of precious metals like silver and gold amidst the invasion of Ukraine by Russia.
Due to the uncertainty over stocks and bonds at this point in time, investors have been looking to get into safe haven assets like silver and gold. That has proven to be a positive trigger for many gold and silver stocks at this point in time and the Hycroft Mining stock has managed to emerge as one of the major movers on the back of that wave. It may be a good move from investors to consider adding the stock to their watch lists.
Technical Data
HYMC stock is trading above the 20-Day and 50-Day Moving averages of $0.66 and $0.49 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.55.
