Hycroft Mining (HYMC) Jumps 27.6% on Silver Rush

We recently published 10 Stock Winners Shocking Wall Street. Hycroft Mining Holding Corp. (NASDAQ:HYMC) was one of the top performers last week.

Hycroft Mining surged by 27.6 percent week-on-week, hitting a new four-year high, as investor sentiment was buoyed by silver’s rally to a fresh peak that sparked potential for higher profits, especially with the successful exploration of high-grade resources at its Nevada mining site.

Following geopolitical tensions and continued uncertainties about US trade policies, inflation, and interest rates, investor funds shifted to safer assets such as gold and silver to mitigate risks, with optimism spilling over to mining companies such as Hycroft Mining Holding Corp. (NASDAQ:HYMC).

Photo from Hycroft Mining website

The rally was further supported by news earlier that Hycroft Mining Holding Corp. (NASDAQ:HYMC) successfully found the best grades of silver at its Nevada mining site, and that drilling exploration showed the area’s continuity of resources.

Meanwhile, spot prices of silver further jumped by 4.68 percent to a new record of $94 on Monday following President Donald Trump’s fresh tariff threats on European countries opposing his proposed takeover of Greenland.

Investors will be closely watching how mining stocks will perform at the start of the trading week on Tuesday, as US markets were closed on Monday in celebration of Martin Luther King Jr. Day.

While we acknowledge the risk and potential of HYMC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HYMC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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