Hycroft Mining (HYMC) Loses 11.5% as Silver, Gold Fall From Record Highs

We recently published 10 Stock Titans With Massive Losses. Hycroft Mining Holding Corp. (NASDAQ:HYMC) was one of the best performers on Wednesday.

Hycroft dropped for a second day on Thursday, shedding 11.53 percent to close at $45.73 apiece as investors took path from the decline in prices of precious metals during the session.

After hitting a series of record runs, spot prices of silver and gold both dropped by more than 1 percent during the session, a day after the Federal Reserve’s decision to keep interest rates unchanged.

Additionally, investors appeared to have taken profits after gold and silver’s surge of 23.5 percent and 51 percent, respectively, year-to-date.

Meanwhile, Hycroft Mining Holding Corp. (NASDAQ:HYMC) has already jumped by as much as 147 percent year-to-date, having hit its highest price of $58.73 last week.

In recent news, Hycroft Mining Holding Corp. (NASDAQ:HYMC) announced that it had found the highest grades of silver in the Vortex Silver System at its Nevada site, and that drilling results in all depths and directions show continuity of resources.

Hycroft Mining Holding Corp. (NASDAQ:HYMC) is a US-based gold and silver producer exploring and developing one of the world’s largest precious metals deposits in Nevada.

While we acknowledge the potential of HYMC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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