Hycroft Mining Holding Corp. (NASDAQ:HYMC) experienced a significant surge in its share prices last week, climbing 46.3 percent week-on-week to reach a new all-time high. This increase occurred as investors adjusted their portfolios in response to silver and gold prices rising to record levels.
On Friday, the company's stock jumped to its highest price of $51.47 before settling at $50.65 per share, up 8.48 percent for the day. This movement coincided with spot silver prices surpassing $103 and gold prices approaching $5,000, reaching as high as $4,988.
The rally in precious metals and related mining stocks was influenced by geopolitical tensions between the world's largest economy and the European Union. Investors remained cautious despite both parties recalling previously announced tariff plans, amid concerns over a volatile and unpredictable US president.
Earlier, Hycroft Mining announced that it had discovered the highest grades of silver in the Vortex Silver System at its Nevada site. Drilling results from all depths and directions indicated continuity of resources.
Hycroft Mining Holding Corp. is a US-based gold and silver producer focused on exploring and developing one of the world's largest precious metals deposits in Nevada.