Hycroft (HYMC) Touches New High on Gold, Silver Record Runs

We recently published 10 Stocks Delivering Double-Digit Gains Effortlessly; 4 Hit Highs. Hycroft Mining Holding Corp. (NASDAQ:HYMC) was one of the best performers on Thursday.

Hycroft soared to another record high on Thursday, as investors continued to load portfolios amid gold and silver prices’ soar to fresh record highs during the day.

At intra-day trading, the stock jumped to its highest price of $47.18 before trimming gains to end the session just up by 17.99 percent at $46.69 apiece.

This followed spot gold’s climb to the $4,900 territory, alongside silver’s jump to nearly $97 on the same day, with investors remaining bullish amid ongoing geopolitical tensions.

Gold and silver are usually treated as safe-haven assets during macroeconomic uncertainties, typically spilling over to mining stocks on expectations of higher profit margins.

In other news, Hycroft Mining Holding Corp. (NASDAQ:HYMC) announced earlier that it had found the highest grades of silver in the Vortex Silver System at its Nevada site, and that results showed continuity of resources.

The mineralized area is said to be open in all directions, suggesting that there is a strong chance that more resources can still be found with further drilling.

“With these results and many more expected to come, we are at the very beginning of a pivotal growth phase. While we don’t typically issue results on single drill holes, these recent two holes in Vortex, when viewed together, represent something extremely significant occurring,” Hycroft Mining Holding Corp. (NASDAQ:HYMC) President and CEO Diane Garrett said earlier.

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Disclosure: None. This article is originally published at Insider Monkey.