Tearsheet
HSLV Home Investment Highlights Valuation, Metrics & Events Price Chart Why The Stock Moved Return vs. Risk About HSLV Interactive Breakdown Better Bets vs. HSLV Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Trade Sentinel Industry Resource Links External Quote Links

Highlander Silver (HSLV)

Market Price (6/7/2026): $4.53 | Market Cap: $664.3 MilSector: Materials | Industry: Silver

Highlander Silver (HSLV)

Market Price (6/7/2026): $4.53
Market Cap: $664.3 Mil
Sector: Materials
Industry: Silver

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15%

Megatrend and thematic drivers
Megatrends include Renewable Energy Transition, Battery Technology & Metals, and 5G & Advanced Connectivity. Themes include Solar Energy Generation, Show more.

Weak multi-year price returns
2Y Excs Rtn is -71%, 3Y Excs Rtn is -108%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -14 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -79%

Expensive valuation multiples
P/SPrice/Sales ratio is 37x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 54x, P/EPrice/Earnings or Price/(Net Income) is 55x

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -87%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -89%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.5%

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15%
1 Megatrend and thematic drivers
Megatrends include Renewable Energy Transition, Battery Technology & Metals, and 5G & Advanced Connectivity. Themes include Solar Energy Generation, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -71%, 3Y Excs Rtn is -108%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -14 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -79%
4 Expensive valuation multiples
P/SPrice/Sales ratio is 37x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 54x, P/EPrice/Earnings or Price/(Net Income) is 55x
5 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -87%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -89%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.5%

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/5/2026

Highlander Silver (HSLV) stock has lost about 30% since it went public on 3/11/2026 because of the following key factors:

1. Macroeconomic Correction in Silver Prices. A significant macroeconomic factor contributing to Highlander Silver's stock decline was a broader correction in silver prices. After reaching an all-time high of $121.64 per ounce in January 2026, silver prices experienced a notable pullback throughout fiscal Q1 2026 and into fiscal Q2 2026, consolidating between $70 and $80 through April, and subsequently falling to $67.30 per ounce by June 5, 2026. This general decline in the underlying commodity directly impacted the valuation of silver-focused companies like Highlander Silver.

2. Share Dilution from Bear Creek Mining Acquisition. Highlander Silver completed the acquisition of Bear Creek Mining in February 2026, just before its NYSE American listing on March 11, 2026. This transaction resulted in substantial share dilution, with total shares outstanding growing by 93.8% in the past year. Such an increase in the number of shares can often dilute per-share value and weigh on stock performance.

Show more
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

null
null

Market Drivers

2/28/2026 to 6/6/2026
ReturnCorrelation
HSLV  
Market (SPY)7.8%65.1%
Sector (XLB)-4.8%65.2%

Fundamental Drivers

null
null

Market Drivers

11/30/2025 to 6/6/2026
ReturnCorrelation
HSLV  
Market (SPY)8.5%65.1%
Sector (XLB)14.4%65.2%

Fundamental Drivers

null
null

Market Drivers

5/31/2025 to 6/6/2026
ReturnCorrelation
HSLV  
Market (SPY)26.6%65.1%
Sector (XLB)19.6%65.2%

Fundamental Drivers

null
null

Market Drivers

5/31/2023 to 6/6/2026
ReturnCorrelation
HSLV  
Market (SPY)83.4%65.1%
Sector (XLB)43.2%65.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HSLV Return------24%-24%
Peers Return-26%-21%-16%36%205%2%108%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
HSLV Win Rate-----25% 
Peers Win Rate32%47%45%48%68%47% 
S&P 500 Win Rate75%42%67%75%67%67% 

Max Drawdowns [4]
HSLV Max Drawdown------ 
Peers Max Drawdown-50%-53%-48%-35%-31%-41% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: PAAS, AG, CDE, HL, EXK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/5/2026 (YTD)

How Low Can It Go

HSLV has limited trading history. Below is the Materials sector ETF (XLB) in its place.

EventXLBS&P 500
2025 US Tariff Shock
  % Loss-17.0%-18.8%
  % Gain to Breakeven20.5%23.1%
  Time to Breakeven84 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-12.5%-9.5%
  % Gain to Breakeven14.3%10.5%
  Time to Breakeven52 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-23.5%-24.5%
  % Gain to Breakeven30.7%32.4%
  Time to Breakeven456 days427 days
2020 COVID-19 Crash
  % Loss-36.2%-33.7%
  % Gain to Breakeven56.8%50.9%
  Time to Breakeven114 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-18.3%-19.2%
  % Gain to Breakeven22.4%23.8%
  Time to Breakeven101 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-17.9%-12.2%
  % Gain to Breakeven21.7%13.9%
  Time to Breakeven52 days62 days

Compare to PAAS, AG, CDE, HL, EXK

In The Past

State Street Materials Select Sector SPDR ETF's stock fell -17.0% during the 2025 US Tariff Shock. Such a loss loss requires a 20.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

HSLV has limited trading history. Below is the Materials sector ETF (XLB) in its place.

EventXLBS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-23.5%-24.5%
  % Gain to Breakeven30.7%32.4%
  Time to Breakeven456 days427 days
2020 COVID-19 Crash
  % Loss-36.2%-33.7%
  % Gain to Breakeven56.8%50.9%
  Time to Breakeven114 days140 days
2014-2016 Oil Price Collapse
  % Loss-23.8%-6.8%
  % Gain to Breakeven31.2%7.3%
  Time to Breakeven171 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-28.2%-17.9%
  % Gain to Breakeven39.3%21.8%
  Time to Breakeven459 days123 days
2008-2009 Global Financial Crisis
  % Loss-56.6%-53.4%
  % Gain to Breakeven130.3%114.4%
  Time to Breakeven701 days1085 days

Compare to PAAS, AG, CDE, HL, EXK

In The Past

State Street Materials Select Sector SPDR ETF's stock fell -17.0% during the 2025 US Tariff Shock. Such a loss loss requires a 20.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Highlander Silver (HSLV)

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

Recent Active Movers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Peers to compare with:

Financials

HSLVPAASAGCDEHLEXKMedian
NameHighland.Pan Amer.First Ma.Coeur Mi.Hecla Mi.Endeavou. 
Mkt Price4.5847.5816.9916.3714.788.0015.57
Mkt Cap0.720.18.411.39.92.39.1
Rev LTM184,0001,5002,5661,5736141,537
Op Inc LTM-141,4925481,077708115628
FCF LTM-161,312505915467-81486
FCF 3Y Avg-6627167245111-126139
CFO LTM-161,6637071,16072185714
CFO 3Y Avg-698832550133740331

Growth & Margins

HSLVPAASAGCDEHLEXKMedian
NameHighland.Pan Amer.First Ma.Coeur Mi.Hecla Mi.Endeavou. 
Rev Chg LTM-33.7%113.4%113.7%66.3%182.3%113.4%
Rev Chg 3Y Avg-42.3%43.7%54.5%32.2%62.3%43.7%
Rev Chg Q-49.3%95.5%137.8%100.4%230.2%100.4%
QoQ Delta Rev Chg LTM-10.5%18.6%24.0%15.1%31.3%18.6%
Op Inc Chg LTM-441.6%177.2%727.7%285.8%250.6%1,238.7%268.2%
Op Inc Chg 3Y Avg-251.2%341.6%324.6%411.8%262.1%412.9%333.1%
Op Mgn LTM-78.7%37.3%36.5%42.0%45.0%18.7%36.9%
Op Mgn 3Y Avg-19.4%11.9%23.1%24.1%8.3%19.4%
QoQ Delta Op Mgn LTM-5.6%8.9%4.4%6.1%11.2%6.1%
CFO/Rev LTM-86.7%41.6%47.1%45.2%45.8%13.8%43.4%
CFO/Rev 3Y Avg-29.3%29.6%25.6%26.1%10.2%26.1%
FCF/Rev LTM-88.9%32.8%33.7%35.6%29.7%-13.2%31.3%
FCF/Rev 3Y Avg-17.3%10.1%4.0%3.3%-50.4%4.0%

Valuation

HSLVPAASAGCDEHLEXKMedian
NameHighland.Pan Amer.First Ma.Coeur Mi.Hecla Mi.Endeavou. 
Mkt Cap0.720.18.411.39.92.39.1
P/S36.65.05.64.46.33.75.3
P/Op Inc-46.613.515.310.514.019.813.7
P/EBIT53.811.613.411.314.5110.313.9
P/E55.215.926.714.136.2-106.421.3
P/CFO-42.312.111.89.713.726.712.0
Total Yield1.8%7.4%3.9%7.1%2.8%-0.9%3.3%
Dividend Yield0.0%1.1%0.1%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-4.0%1.1%-2.6%-0.3%-13.8%-0.3%
D/E0.00.00.00.10.00.10.0
Net D/E-0.2-0.0-0.1-0.0-0.00.0-0.0

Returns

HSLVPAASAGCDEHLEXKMedian
NameHighland.Pan Amer.First Ma.Coeur Mi.Hecla Mi.Endeavou. 
1M Rtn-23.5%-17.4%-20.4%-9.6%-18.2%-21.2%-19.3%
3M Rtn-31.0%-19.9%-34.2%-27.6%-27.5%-28.4%-28.0%
6M Rtn-31.0%7.8%12.9%3.3%-12.9%-7.7%-2.2%
12M Rtn-31.0%68.3%105.9%74.9%136.0%78.2%76.5%
3Y Rtn-31.0%228.4%197.6%421.9%176.7%152.4%187.1%
1M Excs Rtn-25.0%-15.9%-20.0%-12.8%-18.8%-14.3%-17.4%
3M Excs Rtn-40.6%-29.4%-43.7%-37.2%-37.0%-38.0%-37.6%
6M Excs Rtn-38.8%-0.1%0.6%-6.3%-22.6%-18.1%-12.2%
12M Excs Rtn-54.7%57.7%110.2%59.2%118.5%65.5%62.4%
3Y Excs Rtn-107.7%154.4%120.4%369.6%104.2%78.1%112.3%

Comparison Analyses

null

Financials

Segment Financials

Assets by Segment
$ Mil2025202420232022
Single segment0451
Total0451


Short Interest

Short Interest: As Of Date5152026
Short Interest: Shares Quantity0.7 Mil
Short Interest: % Change Since 430202613.3%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest4.1 days
Basic Shares Quantity146.6 Mil
Short % of Basic Shares0.5%

Earnings Returns History

Updated 6/3/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/13/20266-K

Industry Resources

External Quote Links


Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 6/6/2026