Hycroft (HYMC) Flies 52% on Exploration of ‘Best’ Silver Grades in Nevada Mine

We recently published Big Winners: 10 Stocks Refusing to take a Holiday. Hycroft Mining Holding Corp. (NASDAQ:HYMC) is one of the last week’s best performers.

Hycroft Mining soared by 52.31 percent week-on-week, as investors took heart from a combination of gold and silver rally, as well as news that it had found the best grades of silver at its mining site in Nevada.

In an updated report, Hycroft Mining Holding Corp. (NASDAQ:HYMC) said that the highest grades of silver were identified in the Vortex Silver System, and that results show continuity of resources.

Additionally, the mineralized area is still 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,” said Hycroft Mining Holding Corp. (NASDAQ:HYMC) President and CEO Diane Garrett.

The rally was further supported by gold and silver’s record high during the week, supported by President Donald Trump’s announcement that the next central bank should lower interest rates when markets are doing well.

Precious metals typically benefit from interest rate cuts, as they tend to weaken the US dollar, thus making it cheaper for foreign investors to buy gold and silver.

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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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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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