Hycroft Mining soars on Sprott share buy

[Ben Graham]

Hycroft Mining Holding (Nasdaq: HYMC) soared on Tuesday 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, a securities filing showed on Monday. This purchase takes Sprott’s total holding to approximately 36.9 million shares, representing approximately 44.45% of those outstanding.

Hycroft surged by more than 12% on the report, taking the stock price to a one-month high of $47.47 during the morning trading hours. The company has a current market capitalization of $3.8 billion, a monumental rise from the $50 million this time last year.

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

Investment with AMC

Sprott, a renowned precious metals investor, made his first investment in Hycroft in 2022 as part of a $56 million equity private placement, where he, together with AMC Entertainment Holdings (NYSE: AMC), each bought $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, with the latter looking to cash out on its “opportunistic investment” in the mining space.

Nevada mine developer

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, under Hycroft management, it is now pivoting to large-scale milling for processing sulfide ores. The project currently has permits for both heap leach and milling operations, with extensive infrastructure in place.

Earlier this month, Hycroft released an updated mineral resource for its project, showing 16.4 million oz. of gold and 562.6 million oz. of silver in the measured and indicated category, a 55% increase over its 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.”