Hycroft Mining extends climb on Sprott share buy

Hycroft Mining Holding (Nasdaq: HYMC) soared for a second straight day Wednesday after a securities filing revealed that Canadian billionaire Eric Sprott has continued to buy the stock despite its price skyrocketing over the past year.

Sprott, one of the company’s biggest investors, recently added 150,000 shares at a price of $42.05 each, for a total investment of $6.3 million (C$8.6 billion), a securities filing showed on Monday. This purchase takes Sprott’s total holding to about 36.9 million shares, representing about 44.45% of those outstanding.

Hycroft surged 8.8% to $51.08 Wednesday afternoon, following a 12% jump on Tuesday. The company now has a current market capitalization of $4.1 billion, up from about $50 million this time last year.

Top-ranked

The Vancouver-based company was the top-ranked small-cap mining stock in the January edition of Mining.com’s Global Mining Power Rankings.

Sprott, a renowned precious metals investor, made his first investment in Hycroft in 2022 as part of a $56 million equity private placement with AMC Entertainment Holdings (NYSE: AMC) that saw each investor buying $28 million worth of shares. Since then, Sprott has been accumulating shares in Hycroft, which has more than doubled in value as the business began to improve and prices of gold and silver started to rally.

In late 2025, Sprott bought most of AMC’s 22% stake in Hycroft for $24 million when the movie theatre chain sought to cash out on its “opportunistic investment” in the mining space.

Nevada mine

Hycroft is currently developing a silver-gold project in northern Nevada with a brief history of production in the 1980s. While the mine originally operated as a heap leach operation, it’s now pivoting to large-scale milling for processing sulfide ores under Hycroft management. The project has permits for both heap leach and milling operations, with extensive infrastructure in place.

Earlier this month, Hycroft released an updated mineral resource that showed 16.4 million oz. of gold and 562.6 million oz. of silver in the measured and indicated category, a 55% increase over a previous estimate. This included an initial high-grade silver resource with underground potential, totalling 90.2 million oz.

The inferred resource category also increased by 50% for gold and 38% for silver. These figures, the company’s CEO said in a Feb. 18 news release, indicate the “impressive resource growth in what is already among the world’s largest precious metals deposits.”