NEW YORK, Jan 25, 2026, 09:15 EST — Market closed.
Shares of Hycroft Mining Holding Corporation (HYMC) climbed 8.5% on Friday, closing at $50.65 after trading in a range from $45.80 to $51.47. Roughly 7.0 million shares changed hands, per data from the company’s investor site. 1
Silver has become a momentum play, and smaller miners often amplify moves when the metal jumps. With U.S. markets closed until Monday, any continuation or pullback will surface quickly once trading resumes.
Silver surged past $100 an ounce on Friday, driven by retail buying and momentum chasing against a backdrop of tight physical supply, Reuters reported. StoneX analyst Rhona O’Connell described the move as a “self-propelled frenzy,” cautioning that “cracks” could “easily become chasms” if traders start taking profits. Meanwhile, BofA strategist Michael Widmer estimates silver’s fundamental value closer to $60. 2
The rally spilled over to listed assets and major miners: the iShares Silver Trust (SLV) jumped 6.6% on Friday, while the VanEck Gold Miners ETF (GDX) climbed 1.7%. Shares of Newmont rose 2.2%.
Hycroft, pushing forward with its Nevada-based Hycroft Mine, has been focusing heavily on silver through its 2025-2026 drill program. Last December, the company reported a standout Vortex hole that delivered 30.8 metres grading 438.58 grams per tonne silver — a key ore quality metric. Alex Davidson, the exploration VP, called it the “longest continuous” high-grade intercept recorded at the site so far. Hycroft expects more drill results “in the near term” and projected roughly $41.3 million in proceeds this January from warrant exercises, which allow holders to buy shares at a preset price. 3
Investors are eyeing financing risk as well. Hycroft’s Form S-3 registration statement was declared effective on Jan. 12, according to an SEC filing. This move allows the company to register securities for sale over a period. 4
However, the trade cuts both ways. Should silver falter after its sharp rally, high-beta stocks could plunge, and a new share offering would probably shift the spotlight back to dilution instead of drill grades.
On Monday, traders will be eyeing if silver can cling to the triple-digit level and whether risk appetite remains steady following the surge in precious metals. With HYMC, the opening trades could prove just as crucial as the metal’s price action.
The Federal Reserve’s policy meeting on Jan. 27-28 looms large this week. It’s a crucial moment for the dollar and interest rates, with clear potential to impact precious metals. 5
