Why Hycroft Mining Stock Crushed it Today

A mining industry billionaire is increasing his stake in gold and silver miner Hycroft Mining (NASDAQ: HYMC), and investors were there for it on Tuesday. With news of a new purchase of company stock by Eric Sprott, Hycroft's shares rocketed nearly 12% higher on the day.

After market hours Monday, a regulatory filing revealed that an entity associated with Sprott, a veteran and very successful investor in mining businesses, had purchased 150,000 shares of Hycroft's common stock, adding to his already considerable holdings. According to the document, Sprott now owns more than 36.9 million shares following the purchase.

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Source Fool.com