Hycroft Mining Holding Corp. (NASDAQ:HYMC) saw its stock price jump 27.6 percent over the past week, climbing to its highest level in four years. The surge came as silver prices rallied to a new peak, boosting investor optimism about potential profits for mining firms.
On Monday, spot silver prices increased by 4.68 percent to a record $94. This followed recent tariff threats by President Donald Trump against European countries that opposed his proposed takeover of Greenland.
Investor funds have shifted toward safer assets like gold and silver amid geopolitical tensions and uncertainties surrounding U.S. trade policies, inflation, and interest rates. This movement has benefited companies such as Hycroft Mining.
Earlier news indicated that Hycroft Mining successfully identified high-grade silver resources at its Nevada mining site. Drilling exploration confirmed the continuity of resources in the area, further supporting the stock's rally.
U.S. markets were closed on Monday for Martin Luther King Jr. Day. Investors are now watching to see how mining stocks perform at the start of trading on Tuesday.