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Completion of Equity Offering Program: Hycroft Mining Holding Corp. (HYMC) Stock Leaping Forward After Hours.

Hycroft Mining Holding Corp. (HYMC) is one of the key producers of gold and silver via gold and silver mines located in the mining region of Northern Nevada. The mine is ranked as the 20th biggest and top international gold deposit.


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HYMC stock price during the regular trading session of March 25, 2022, was $1.28 with a decrease of 3.03%. Its price rebounded as of the writing in the aftermarket session by 21.8%.

HYMC: Events and Happenings

On March 25, 2022, HYMC stated the completion of prior announced ‘at-the-market’ equity offering program. The company sold 89,553,584 shares and the cumulative net proceeds resulting from the offering were up to $138.6 million. After the consummation of all sales under this program, the number of issued and outstanding shares possessed by the company will be 196,803,459.

On March 23, 2022, HYMC updated on planning to file its Form 10-K or yearly financial report for the year ended December 31, 2021, on March 31, 2022. On December 15, 2021, HYMC reported about the appointment of Diane R. Garrett as the Interim Chairman of its Board and Thomas Weng as the independent director effective immediately.

HYMC: Key Financials

HYMC issued its unaudited financial statement on November 12, 2021, for Q3 2021 ended September 30, 2021. Some of the focal features are mentioned below.

Revenue

Revenue in the third quarter of 2021 was $31.6 million against $12.2 million during the comparable quarter of 2020. Its revenue inclined by $19.3 million over the year and beat the revenue estimations by $926 thousand.

EPS

Net loss per share (basic and diluted) during Q3 2021 was $23.2 million or $0.39 as compared to $32.2 million or $0.64 during the same third quarter of 2020. The company’s EPS increased significantly YoY and the actual EPS remained in line with the expectations.

Conclusion

HYMC stock price is 66% down and 106% up in the previous year and YTD period. This is a positive change as the company is trying to ward off the economic impact of the pandemic and improve its growth parameters. Its recent gain in aftermarket stock price is likely attributed to the completion of the $138.6 million ATM equity offering program. The revenue estimations for the earnings release are $19 million versus -$0.06 EPS.

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