Why Hycroft Mining Stock Was Up Close to 20% This Week

Shares of Hycroft Mining (NASDAQ: HYMC) have shot up 18.6% this week, according to data from S&P Global Market Intelligence. The Nevada-based gold and silver miner is rising along with the prices of both metals. Their prices have begun to recover since a sharp dip in late January, and Hycroft's stock price tends to follow the price of gold and silver in the short run. The company also announced an increased assessment of its minable resources at its land holdings. Here's why Hycroft Mining stock was soaring this week, and whether it is a buy for your portfolio today.With ownership over prospective mines in Nevada, Hycroft Mining will theoretically benefit from rising gold and silver prices once it begins production. If the company's mining costs remain the same but the prices of gold and silver double, that is pure profit for the business.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool