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Bag This Bargain Metals Stock Even Cheaper Than President, CEO & Director Garrett Did

By Metals Channel Staff, Wednesday, January 13, 11:11 AM ET
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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on December 16, Hycroft Mining Holding Corp's President, CEO & Director, Diane R. Garrett, invested $241,458.09 into 34,000 shares of HYMC, for a cost per share of $7.10. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Wednesday, bargain hunters could buy shares of Hycroft Mining Holding Corp (NASDAQ:HYMC) and achieve a cost basis even cheaper than Garrett, with shares changing hands as low as $7.05 per share. Hycroft Mining Holding Corp shares are currently trading up about 0.8% on the day. The chart below shows the one year performance of HYMC shares, versus its 200 day moving average:

Hycroft Mining Holding Corp Chart

Looking at the chart above, HYMC's low point in its 52 week range is $6.68 per share, with $16.1713 as the 52 week high point — that compares with a last trade of $7.28. By comparison, below is a table showing the prices at which HYMC insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
12/16/2020 Diane R. Garrett President, CEO & Director 34,000 $7.10 $241,458.09
12/15/2020 Stanton K. Rideout Executive Vice President & CFO 15,000 $7.00 $105,000.00
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