Hycroft Mining (HYMC)


Market Price (11/10/2026): $20.035 | Market Cap: $1.9 BilSector: Materials | Industry: Gold

Hycroft Mining (HYMC)


Market Price (11/10/2026): $20.035
Market Cap: $1.9 Bil
Sector: Materials
Industry: Gold

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 -11%

Megatrend and thematic drivers
Megatrends include Global Commodities & Resource Supply. Themes include Precious Metals Production, Inflation Hedge & Store of Value, and Industrial & Jewelry Materials.

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -119 Mil

Stock price has recently run up significantly
12M Rtn12 month market price return is 178%

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 -11%

High stock price volatility
Vol 12M is 118%

Key risks
HYMC key risks include [1] successfully executing its transition from a pre-revenue, Show more.

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 -11%
1 Megatrend and thematic drivers
Megatrends include Global Commodities & Resource Supply. Themes include Precious Metals Production, Inflation Hedge & Store of Value, and Industrial & Jewelry Materials.
2 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -119 Mil
5 Stock price has recently run up significantly
12M Rtn12 month market price return is 178%
6 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 -11%
7 High stock price volatility
Vol 12M is 118%
8 Key risks
HYMC key risks include [1] successfully executing its transition from a pre-revenue, Show more.

HYMC in ETFs

Weight = HYMC's share of each fund

VTI0.00%
ITOT0.00%
IWM0.03%
IWO0.06%
VTWO0.03%
SCHA0.02%
ONEQ0.00%
SCHB0.00%
+1 more covered ETF

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Prices as of 11/9/2026

Nov 9: up 13.3% in one day (S&P 500 up 2.4%)
The stock gained without company-specific news on a day when market headlines reported a broad-based relief rally.

Up 38.2% since its Oct 26 low (S&P 500 down 1.7%)
The stock's significant rise followed its Q3 2026 earnings report, which noted a strong balance sheet. Major gains occurred on November 9 and November 6, with the October 27 earnings reaction also a factor.

Oct 27: up 9.8% on its earnings report (S&P 500 up 0.6%)
The stock rose following its Q3 2026 earnings report, which noted the company "maintains strong balance sheet." This occurred despite reported net income of $-26 million and diluted EPS of $-0.28.

Show more
Prices as of 11/9/2026

Nov 9: up 13.3% in one day (S&P 500 up 2.4%)
The stock gained without company-specific news on a day when market headlines reported a broad-based relief rally.

Up 38.2% since its Oct 26 low (S&P 500 down 1.7%)
The stock's significant rise followed its Q3 2026 earnings report, which noted a strong balance sheet. Major gains occurred on November 9 and November 6, with the October 27 earnings reaction also a factor.

Oct 27: up 9.8% on its earnings report (S&P 500 up 0.6%)
The stock rose following its Q3 2026 earnings report, which noted the company "maintains strong balance sheet." This occurred despite reported net income of $-26 million and diluted EPS of $-0.28.

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Stock Movement Drivers

Fundamental Drivers

The 8.9% change in HYMC stock from 7/31/2026 to 11/9/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)731202611092026Change
Stock Price ($)19.5321.278.9%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)9293-1.8%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/9/2026
ReturnCorrelation
HYMC8.9% 
Market (SPY)0.8%52.0%
Sector (XLB)5.0%59.3%

Fundamental Drivers

The -41.7% change in HYMC stock from 4/30/2026 to 11/9/2026 was primarily driven by a -3.7% change in the company's Shares Outstanding (Mil).
(LTM values as of)430202611092026Change
Stock Price ($)36.4621.27-41.7%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)9093-3.7%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/9/2026
ReturnCorrelation
HYMC-41.7% 
Market (SPY)5.0%53.8%
Sector (XLB)3.2%52.9%

Fundamental Drivers

The 179.9% change in HYMC stock from 10/31/2025 to 11/9/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)1031202511092026Change
Stock Price ($)7.6021.27179.9%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)4293-54.4%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/9/2026
ReturnCorrelation
HYMC179.9% 
Market (SPY)11.3%36.7%
Sector (XLB)25.2%41.0%

Fundamental Drivers

The 857.7% change in HYMC stock from 10/31/2023 to 11/9/2026 was primarily driven by a 9.2233720368547763E17% change in the company's P/S Multiple.
(LTM values as of)1031202311092026Change
Stock Price ($)2.2221.27857.7%
Change Contribution By: 
Total Revenues ($ Mil)110 
P/S Multiple3.9∞9.2233720368547763E17%
Shares Outstanding (Mil)2093-78.3%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/9/2026
ReturnCorrelation
HYMC857.7% 
Market (SPY)86.2%22.9%
Sector (XLB)46.8%30.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HYMC Return-92%-13%-54%-10%976%-11%-73%
Peers Return-24%-16%0%-1%165%6%82%
S&P 500 Return27%-19%24%23%16%8%96%

Monthly Win Rates [3]
HYMC Win Rate33%25%33%42%92%45% 
Peers Win Rate38%42%48%42%73%47% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
HYMC Max Drawdown-93%-82%-74%-53%-30%-72% 
Peers Max Drawdown-42%-50%-34%-32%-20%-43% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: B, FNV, FSM, OGG, PZG.
[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 11/9/2026 (YTD)

How Low Can It Go

EventHYMCS&P 500
2025 US Tariff Shock
  % Loss-17.8%-18.8%
  % Gain to Breakeven21.7%23.1%
  Time to Breakeven10 days79 days
2024 Yen Carry Trade Unwind
  % Loss-19.7%-7.8%
  % Gain to Breakeven24.5%8.5%
  Time to Breakeven37 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-62.2%-9.5%
  % Gain to Breakeven164.6%10.5%
  Time to Breakeven658 days24 days
2023 SVB Regional Banking Crisis
  % Loss-41.5%-6.7%
  % Gain to Breakeven70.8%7.1%
  Time to Breakeven797 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-52.7%-24.5%
  % Gain to Breakeven111.5%32.4%
  Time to Breakeven13 days427 days

Compare to B, FNV, FSM, OGG, PZG

In The Past

Hycroft Mining's stock fell -17.8% during the 2025 US Tariff Shock. Such a loss loss requires a 21.7% 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.

EventHYMCS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-62.2%-9.5%
  % Gain to Breakeven164.6%10.5%
  Time to Breakeven658 days24 days
2023 SVB Regional Banking Crisis
  % Loss-41.5%-6.7%
  % Gain to Breakeven70.8%7.1%
  Time to Breakeven797 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-52.7%-24.5%
  % Gain to Breakeven111.5%32.4%
  Time to Breakeven13 days427 days

Compare to B, FNV, FSM, OGG, PZG

In The Past

Hycroft Mining's stock fell -17.8% during the 2025 US Tariff Shock. Such a loss loss requires a 21.7% 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 Hycroft Mining (HYMC)

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Hycroft Mining Holding Corporation (HYMC) is a U.S.-based gold and silver development company. Its core operation revolves around its flagship asset, the Hycroft mine, which spans approximately 70,671 acres in Winnemucca, Nevada. The company is currently focused on advancing this substantial property.

The company's main products are the precious metals it aims to extract: gold and silver. As of December 31, 2021, the Hycroft mine boasted significant measured and indicated mineral resources, totaling 9.6 million ounces of gold and 446.0 million ounces of silver. As a development company, its current business involves the exploration, evaluation, and eventual extraction of these valuable mineral assets.

Hycroft Mining ultimately serves the global precious metals market. Its primary customers will be refiners and buyers of gold and silver, which are commodities traded worldwide and utilized by various industries, investors, and central banks for their monetary value, industrial applications, and as a hedge against inflation or economic uncertainty.

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AI Analysis | Feedback

Here are 1-2 brief analogies for Hycroft Mining (HYMC):

  • It's like a developing Barrick Gold or Newmont, focused on unlocking one of the largest untapped gold and silver deposits.
  • Think of it as a real estate developer for precious metals, owning a massive underground 'property' with confirmed huge gold and silver reserves.

AI Analysis | Feedback

  • Gold: A precious metal extracted and developed from its Hycroft mine in Nevada.
  • Silver: A precious metal extracted and developed from its Hycroft mine in Nevada.

AI Analysis | Feedback

Hycroft Mining (HYMC) operates as a gold and silver development company. As such, its primary products are raw gold and silver (typically in the form of dore bars or concentrates).

Due to the nature of the precious metals market, gold and silver are fungible commodities that are traded globally. Mining companies like Hycroft Mining typically sell their production on the open market, primarily to:

  • Precious Metal Refiners: These companies process the raw dore bars or concentrates into higher-purity gold and silver bullion.
  • Bullion Dealers and Banks: These entities trade in physical gold and silver, acting as intermediaries between producers, investors, and industrial users.
  • Commodity Trading Firms: Firms that specialize in buying and selling various commodities.

It is not common for gold and silver mining companies to have a concentrated list of "major customers" in the traditional sense, as the market for their products is highly liquid and diverse. Their sales are transactional, and they typically do not have long-term supply agreements with specific entities that would be identified as major customers. Therefore, specific names of customer companies or categories of individual customers are not applicable or publicly disclosed in the manner requested for this type of business.

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Diane R. Garrett, President & CEO

Dr. Garrett has over 25 years of senior executive management experience in the mining industry. She served as President, CEO, and Director of Romarco Minerals Inc., where she led the development of the Haile Gold Mine. Romarco was subsequently acquired by OceanaGold in 2015. Dr. Garrett was also President and Chief Executive Officer of Nickel Creek Platinum Corp. and held senior positions at Dayton Mining Corporation and Beartooth Platinum Corporation.

Stanton Rideout, Executive Vice President & Chief Financial Officer

Mr. Rideout is a seasoned financial executive with over 30 years of experience in the mining and manufacturing industries. He served as Senior Vice President, Chief Financial Officer of Romarco Minerals Inc. from 2010 to 2015, where he arranged project debt financing for the Haile Gold Mine before Romarco was acquired by OceanaGold Corporation. He was also Executive Vice President and Chief Financial Officer for Swift Transportation Corporation and held various senior finance and accounting positions over 25 years with Phelps Dodge Corporation.

Rebecca Jennings, Senior Vice President, General Counsel & Corporate Secretary

Ms. Jennings has over 25 years of experience in industry and private practice, working with major international and junior mining companies. She previously served as Senior Vice President, General Counsel and Corporate Secretary for Allied Nevada Gold Corp., and as Assistant Regional Counsel for Newmont Mining Corporation.

David Thomas, Senior Vice President, Operations, & General Manager

Mr. Thomas has an extensive background in business finance, project development, and management. He has 17 years of experience in the mining industry and was previously President and General Manager of the Haile Gold Mine from its inception with Romarco Minerals until its merger with OceanaGold in 2015. He remained as VP & Country Director and Advisor until 2020.

Alex Davidson, Vice President, Exploration

Mr. Davidson is a highly experienced geologist with more than 25 years of open-pit and underground operating expertise. He spent over a decade with Newmont Corporation in various senior geology roles and managed exploration drill programs. He also worked for Rio Tinto and Hecla Mining. Most recently, he joined Nevada Gold Mines, a joint venture between Barrick Gold Corporation and Newmont Corporation.

AI Analysis | Feedback

The key risks to Hycroft Mining (HYMC) primarily stem from its current status as a development-stage company not yet in commercial production.

  1. Lack of Commercial Production and Reliance on External Financing: Hycroft Mining is not currently generating revenue from commercial mining operations, having ceased active mining in November 2021 and processing by the end of 2022. The company is burning cash and relies heavily on external financing to fund its exploration and development activities, including the significant investment required to transition to commercial-scale sulfide mineral processing. While Hycroft has recently become debt-free and holds unrestricted cash, the need for substantial future funding to recommence operations remains a critical challenge. There is uncertainty regarding the company's ability to secure additional financing on favorable terms or at all, which could impact its operational continuity and strategic objectives.

  2. Operational and Technical Execution Risks: The company faces significant operational and technical risks in its transition from exploration to commercial production. A major concern is the lack of a completed feasibility study, which introduces uncertainty regarding the economic viability of the Hycroft Mine. The company is engaged in complex technical studies to transition to a milling operation for sulfide mineralization, a capital-intensive process that requires validation through a full economic study. Metallurgical test work and process development, including trade-off analyses for different processing methods like pressure oxidation and roasting, are ongoing, and variations in recovery rates or processing costs could materially impact the project's economic returns and overall feasibility.

  3. Commodity Price Volatility: Once in production, Hycroft Mining's revenue will be entirely dependent on the volatile market prices of gold and silver. These prices are influenced by global economic conditions, investor sentiment, geopolitical events, and inflation, all of which are beyond the company's control. A significant downturn in gold and silver prices could severely impact the profitability of the Hycroft Mine, potentially undermining the economic viability of its substantial mineral resources and adversely affecting the company's financial performance and stock price.

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Hycroft Mining's main products are gold and silver. The addressable markets for these precious metals are substantial, both globally and within the U.S.

Gold Market

The global gold market was valued at USD 291.68 billion in 2024 and is projected to reach USD 400 billion by the end of 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.51% from 2025 to 2030. Another estimate places the global gold market size at USD 1308.43 billion in 2026, with a projection to reach USD 1878.48 billion by 2035, at a CAGR of 4.1% from 2026 to 2035. In terms of volume, the global gold market size was 4,890.0 tons in 2025 and is expected to grow to 7,424.4 tons by 2034, with a CAGR of 4.70% during the forecast period of 2026-2034. For the U.S. market, gold demand surged to 679 tons in 2025, primarily driven by ETF investments. The U.S. market alone is anticipated to reach 343.7 tons in 2026. North America generally accounts for approximately 7% to 10% of the global gold market share.

Silver Market

The global silver market was valued at USD 87.12 billion in 2024 and is projected to grow from USD 95.20 billion in 2025 to USD 202.07 billion by 2033, exhibiting a CAGR of 9.86% during this forecast period. Another estimate indicates the global silver market size was valued at USD 23.51 billion in 2025 and is expected to grow at a CAGR of 4.50% to reach USD 36.51 billion by 2035. The market capitalization of silver is estimated to be around USD 4.503 trillion. In terms of volume, the global silver market is expected to grow from 37.78 kilotons in 2025 to 49.54 kilotons by 2031, at a CAGR of 4.62% from 2026 to 2031. The U.S. silver market is projected to grow to a value of USD 4.2 billion by 2035, with a CAGR of 3.19% from 2025 to 2035. This growth is largely driven by industrial demand and investment trends, with industrial demand, particularly in electronics and solar energy, accounting for a significant portion of silver consumption.

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Here are 3-5 expected drivers of future revenue growth for Hycroft Mining (HYMC) over the next 2-3 years:

  1. Transition to Large-Scale Sulfide Ore Processing: A primary driver of future revenue growth is the company's transition to a large-scale milling operation for its refractory sulfide ore. This involves a complex engineering challenge, with Hycroft Mining currently conducting a trade-off study between roasting and pressure oxidation (POX) processing methods.
  2. Restart of Heap Leach Operations: Hycroft Mining plans to accelerate drilling on newly identified high-grade silver systems in 2026 and is advancing plans to potentially restart heap leach operations. This restart is anticipated to enhance the mine's value and production potential.
  3. Expansion of Mineral Resources: In 2025, Hycroft Mining significantly increased its measured and indicated gold and silver resources by approximately 55%, reaching 16.4 million ounces of gold and 562.6 million ounces of silver. The company also initiated its largest drilling program for 2025-2026, aiming to further develop high-grade silver resources. These expansions are expected to lead to a more productive mine once operational.
  4. Favorable Precious Metal Prices: Although the mine is not currently operational, an optimistic outlook for Hycroft Mining's future revenue is supported by rising gold and silver prices. As of March 2026, gold prices had increased by 76% and silver prices by 156% over the past year, theoretically benefiting the company once production resumes.
  5. Strengthened Financial Position for Development Funding: Hycroft Mining's elimination of approximately $136 million in total indebtedness by October 2025, making it debt-free, coupled with $194.1 million in cash and cash equivalents as of February 28, 2026, provides significant financial flexibility. This strong liquidity position is crucial for funding the necessary development and operational restart phases that will generate future revenue.

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Share Issuance

  • Hycroft Mining raised $296.8 million in gross equity proceeds during 2025 through equity offerings, warrant exercises, and its at-the-market program.
  • In 2025, the company sold 54,213,173 shares of common stock via two public equity offerings and a private equity offering for aggregate gross proceeds of $279.8 million.
  • In November 2025, Hycroft Mining raised $113.54 million through an offering of 14,017,056 shares of Class A common stock.

Inbound Investments

  • In February 2022, Hycroft Mining received a $56 million equity investment from renowned precious metals investor Eric Sprott and AMC Entertainment.
  • Following 2025 equity offerings, approximately 80% of Hycroft's outstanding shares are now held by institutional investors, including several leading funds within the global mining sector.
  • Eric Sprott, through Sprott Mining Inc., significantly increased his indirect holdings to more than 40% of Hycroft Mining by January 29, 2026, having invested over $225 million since June 2025.

Capital Expenditures

  • Hycroft Mining's primary future cash requirements for 2026 will be to fund working capital needs, capital and project expenditures, and other corporate expenses, focused on targeted exploration drilling and technical studies to develop the Hycroft Mine.
  • In 2025, the company's exploration and development costs totaled $14.9 million.
  • The 2025-2026 drill program is estimated to include 26,000 meters of core drilling on two high-grade silver systems and 8,200 meters of reverse circulation drilling targeting heap leach material.

Peer Outperformance in Gold

HYMC has trailed 78% of its 37 Gold peers over 5Y. Gold ranks 3rd of 15 industries in Materials by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Gold constituents that HYMC has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
100%
of 42 industry peers · 178.0% return
3Y
98%
of 41 industry peers · 1071.9% return
5Y
22%
of 37 industry peers · 26.6% return
No Gold peer with a comparable growth profile has beaten HYMC by more than 20pp over 5Y.
Median price return by industry across the Materials sector, ranked by 5Y. Gold is HYMC's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Copper 7 43.1%129.3%154.2% SCCO 260% · TGB 240% · HBM 224%
Steel 14 21.7%42.4%118.4% HCC 341% · STLD 273% · RS 175%
Gold ← 38 23.0%215.6%113.4% IAG 546% · OGC 392% · AGI 311%
Silver 6 47.3%321.7%98.4% AYA 294% · HL 156% · SVM 120%
Construction Materials 6 -12.2%19.0%38.2% USLM 351% · CRH 108% · VMC 47%
Aluminum 3 12.9%121.6%25.1% CENX 160% · AA -7%
Metal, Glass & Plastic Containers 11 18.0%22.3%6.5% GEF 22% · ATR 18% · SLGN 10%
Paper & Plastic Packaging Products & Materials 7 20.9%17.3%-5.8% PKG 120% · CCK 22% · SON -2%
Diversified Metals & Mining 23 -49.9%-2.5%-10.1% USAR 29296% · SKE 185% · MTRN 124%
Diversified Chemicals 3 19.7%2.8%-13.5% CBT 39% · ASH -14% · CC -50%
Specialty Chemicals 42 15.4%11.4%-19.8% PRM 163% · NEU 127% · ECL 40%
Precious Metals & Minerals 7 3.9%157.2%-26.0% PPTA 334%
Commodity Chemicals 12 19.7%-26.5%-29.9% HWKN 332% · MEOH 54% · DOW -31%
Fertilizers & Agricultural Chemicals 10 7.5%12.5%-42.0% CF 110% · CTVA 78% · NTR 25%
Paper Products 4 -41.8%-62.7%-81.1%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

HYMCBFNVFSMOGGPZGMedian
NameHycroft .Barrick .Franco-N.Fortuna .Osisko G.Paramoun. 
Mkt Price20.0740.64255.749.792.561.0214.93
Mkt Cap1.966.749.32.9--26.1
Rev LTM021,5802,3171,22564-1,225
Op Inc LTM-11911,2231,753575-19-575
FCF LTM-1144,876-612-236-249
FCF 3Y Avg-612,859-316-142-127
CFO LTM-1129,473-8201-410
CFO 3Y Avg-606,641-505-35-235

Growth & Margins

HYMCBFNVFSMOGGPZGMedian
NameHycroft .Barrick .Franco-N.Fortuna .Osisko G.Paramoun. 
Rev Chg LTM-47.8%73.6%40.4%805.4%-60.7%
Rev Chg 3Y Avg-25.7%27.8%19.1%225.4%-26.8%
Rev Chg Q-22.3%57.3%16.7%377.1%-39.8%
QoQ Delta Rev Chg LTM-4.5%10.0%3.6%68.6%-7.3%
Op Inc Chg LTM-221.6%77.4%93.4%91.5%67.6%-77.4%
Op Inc Chg 3Y Avg-60.6%64.6%39.0%78.8%30.2%-39.0%
Op Mgn LTM-52.0%75.7%46.9%-30.3%-49.5%
Op Mgn 3Y Avg-41.2%68.5%34.1%-388.4%-37.7%
QoQ Delta Op Mgn LTM--0.1%1.3%-1.7%85.6%-0.6%
CFO/Rev LTM-43.9%-67.0%1.7%-43.9%
CFO/Rev 3Y Avg-40.2%-50.0%-362.7%-40.2%
FCF/Rev LTM-22.6%-49.9%-371.4%-22.6%
FCF/Rev 3Y Avg-16.4%-29.9%-753.5%-16.4%

Valuation

HYMCBFNVFSMOGGPZGMedian
NameHycroft .Barrick .Franco-N.Fortuna .Osisko G.Paramoun. 
Mkt Cap1.966.749.32.9--26.1
P/S-3.121.32.4--3.1
P/Op Inc-15.65.928.15.0--5.5
P/EBIT-18.25.226.25.1--5.1
P/E-18.210.233.49.6--9.9
P/CFO-16.67.0-3.5--3.5
Total Yield-5.2%11.7%3.3%10.1%--6.7%
Dividend Yield0.0%2.2%0.4%0.0%--0.2%
FCF Yield 3Y Avg-27.4%5.0%-11.8%--5.0%
D/E0.00.10.00.1--0.0
Net D/E-0.1-0.0-0.0-0.1---0.0

Returns

HYMCBFNVFSMOGGPZGMedian
NameHycroft .Barrick .Franco-N.Fortuna .Osisko G.Paramoun. 
1M Rtn4.6%-1.0%4.4%-10.3%-9.4%-12.1%-5.2%
3M Rtn-26.5%-0.2%6.3%-8.8%-6.0%-33.8%-7.4%
6M Rtn-54.1%-12.8%8.0%-10.0%14.5%-34.2%-11.4%
12M Rtn162.4%25.4%34.1%19.5%14.5%2.9%22.5%
3Y Rtn1,005.8%185.4%120.6%227.4%14.5%217.8%201.6%
1M Excs Rtn9.8%4.3%9.8%-4.9%-4.0%-6.7%0.2%
3M Excs Rtn-22.8%6.0%10.8%-5.2%-1.3%-29.4%-3.3%
6M Excs Rtn-53.6%-12.4%8.5%-9.5%15.0%-33.7%-11.0%
12M Excs Rtn168.0%18.1%27.5%13.2%5.1%-4.2%15.6%
3Y Excs Rtn714.2%102.5%47.0%175.8%-53.6%177.6%139.2%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil2022202120202019
Hycroft Mine331114714
Corporate and Other0 00
Total331114714


Operating Income by Segment
$ Mil20242023202220212020
Corporate and Other-14-13-14-15-21
Hycroft Mine-29-32-39-69-68
Total-44-45-53-84-89


Net Income by Segment
$ Mil20242023202220212020
Hycroft Mine-28-30-35-69-68
Corporate and Other-33-25-26-19-68
Total-61-55-61-89-136


Assets by Segment
$ Mil20252024202320222021
Hycroft Mine26314066102139
Corporate and Other  1361473
Total263140202249142


Price Behavior

Price Behavior
Market Price$21.27 
Market Cap ($ Bil)2.0 
First Trading Date03/12/2018 
Distance from 52W High-61.8% 
   50 Days200 Days
DMA Price$19.24$29.34
DMA Trenddowndown
Distance from DMA10.6%-27.5%
 3M1YR
Volatility84.1%117.7%
Downside Capture504.98424.07
Upside Capture427.08500.20
Correlation (S&P 500)42.9%36.3%
HYMC Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta3.793.514.143.853.311.42
Up Beta-1.56-3.080.312.321.160.64
Down Beta1.504.335.304.140.980.94
Up Capture442%356%577%448%4646%4263%
Bmk +ve Days12182862130427
Stock +ve Days9162749124362
Down Capture486%421%394%291%188%112%
Bmk -ve Days10253664121325
Stock -ve Days13273777127370

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HYMC
HYMC195.0%117.7%1.43-
Sector ETF (XLB)26.7%18.3%1.1441.2%
Equity (SPY)13.3%13.7%0.6536.5%
Gold (GLD)3.7%28.8%0.1264.9%
Commodities (DBC)38.2%21.3%1.422.8%
Real Estate (VNQ)13.7%14.3%0.657.1%
Bitcoin (BTCUSD)-25.3%43.6%-0.5523.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HYMC
HYMC4.1%152.8%0.54-
Sector ETF (XLB)6.4%19.2%0.2215.5%
Equity (SPY)11.8%17.3%0.5112.2%
Gold (GLD)17.8%19.1%0.7533.4%
Commodities (DBC)8.0%19.6%0.2911.0%
Real Estate (VNQ)1.5%18.9%-0.0310.7%
Bitcoin (BTCUSD)4.4%51.6%0.2712.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HYMC
HYMC-14.4%130.7%0.30-
Sector ETF (XLB)10.7%20.7%0.4512.4%
Equity (SPY)15.3%18.0%0.7210.2%
Gold (GLD)12.1%16.5%0.6031.1%
Commodities (DBC)7.6%18.1%0.3310.5%
Real Estate (VNQ)6.1%20.7%0.258.0%
Bitcoin (BTCUSD)60.0%66.3%1.009.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity12.6 Mil
Short Interest: % Change Since 93020261.2%
Average Daily Volume1.9 Mil
Days-to-Cover Short Interest6.6 days
Basic Shares Quantity93.2 Mil
Short % of Basic Shares13.5%

Earnings Returns History

Updated 11/5/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/27/20269.8%6.1% 
7/28/2026-1.5%0.9%27.7%
4/28/2026-6.5%-5.3%-16.1%
3/3/2026-13.0%-27.2%-36.8%
10/28/202518.7%19.4%47.9%
7/31/2025-2.7%4.0%26.6%
5/14/2025-8.6%-14.7%4.0%
11/5/2024-0.8%-0.8%-6.3%
...
SUMMARY STATS   
# Positive997
# Negative121213
Median Positive3.5%6.1%26.6%
Median Negative-4.9%-4.8%-14.8%
Max Positive18.7%19.4%66.4%
Max Negative-28.7%-49.4%-46.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/27/20269.8%6.1% 
7/28/2026-1.5%0.9%27.7%
4/28/2026-6.5%-5.3%-16.1%
3/3/2026-13.0%-27.2%-36.8%
10/28/202518.7%19.4%47.9%
7/31/2025-2.7%4.0%26.6%
5/14/2025-8.6%-14.7%4.0%
11/5/2024-0.8%-0.8%-6.3%
8/6/2024-5.8%-0.4%-7.6%
5/7/2024-4.2%-3.7%-12.4%
3/14/20240.4%2.6%66.4%
10/31/20233.5%12.7%-3.6%
7/26/20233.4%-3.9%-19.6%
3/29/20239.3%6.0%-5.5%
11/1/2022-4.6%11.7%1.1%
8/4/20221.0%-1.9%-30.1%
11/12/2021-1.9%-27.1%-38.0%
8/4/20211.4%-8.2%3.9%
5/17/202110.9%10.0%-0.3%
3/24/2021-28.7%-49.4%-46.7%
11/9/2020-5.2%-4.3%-14.8%
SUMMARY STATS   
# Positive997
# Negative121213
Median Positive3.5%6.1%26.6%
Median Negative-4.9%-4.8%-14.8%
Max Positive18.7%19.4%66.4%
Max Negative-28.7%-49.4%-46.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202610/27/202610-Q
06/30/202607/28/202610-Q
03/31/202604/28/202610-Q
12/31/202503/03/202610-K
09/30/202510/28/202510-Q
06/30/202507/31/202510-Q
03/31/202505/13/202510-Q
12/31/202403/05/202510-K
09/30/202411/05/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202303/14/202410-K
09/30/202310/31/202310-Q
06/30/202307/26/202310-Q
03/31/202305/01/202310-Q
12/31/202203/28/202310-K
Collapse to Preview
Report DateFiling DateFiling
09/30/202610/27/202610-Q
06/30/202607/28/202610-Q
03/31/202604/28/202610-Q
12/31/202503/03/202610-K
09/30/202510/28/202510-Q
06/30/202507/31/202510-Q
03/31/202505/13/202510-Q
12/31/202403/05/202510-K
09/30/202411/05/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202303/14/202410-K
09/30/202310/31/202310-Q
06/30/202307/26/202310-Q
03/31/202305/01/202310-Q
12/31/202203/28/202310-K
09/30/202211/01/202210-Q
06/30/202208/04/202210-Q
03/31/202205/04/202210-Q
12/31/202103/31/202210-K
09/30/202111/12/202110-Q
06/30/202108/04/202110-Q
03/31/202105/17/202110-Q
12/31/202003/24/202110-K
09/30/202011/09/202010-Q
06/30/202008/10/202010-Q
12/31/201905/14/202110-K/A

Insider Activity

Updated 11/10/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Jennings, RebeccaSVP & General CounselDirectSell1110202621.469,605206,1254,226,028Form
2Rhodes, BlakeDirectBuy1028202616.693,00050,075117,977Form
3Thomas, David BrianSVP, General ManagerDirectSell618202626.3225,000658,0004,431,604Form
4Jennings, RebeccaSVP & General CounselspouseSell616202628.641,194  Form
5Jennings, RebeccaSVP & General CounselDirectSell616202626.2515,329402,3865,315,572Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Jennings, RebeccaSVP & General CounselDirectSell1110202621.469,605206,1254,226,028Form
2Rhodes, BlakeDirectBuy1028202616.693,00050,075117,977Form
3Thomas, David BrianSVP, General ManagerDirectSell618202626.3225,000658,0004,431,604Form
4Jennings, RebeccaSVP & General CounselspouseSell616202628.641,194  Form
5Jennings, RebeccaSVP & General CounselDirectSell616202626.2515,329402,3865,315,572Form
6Thomas, David BrianSVP, General ManagerDirectSell608202630.159,000271,3505,830,226Form
7Rideout, Stanton KExecutive Vice President & CFODirectSell608202630.1816,500497,97014,545,160Form
8Garrett, Diane RChair, President & CEODirectSell608202631.5021,550678,82529,243,088Form
9Jennings, RebeccaSVP & General CounselDirectSell608202630.2711,300342,0516,190,033Form
10Sprott, EricSprott Mining Inc.Buy427202637.84100,0003,784,0001,415,356,159Form
11Sprott, EricSprott Mining Inc.Buy410202638.67200,0007,734,0001,442,534,234Form
12Jennings, RebeccaSVP & General CounselDirectSell317202639.339,071356,7818,487,610Form
13Sprott, EricSprott Mining Inc.Buy305202647.58100,0004,758,0001,760,636,236Form
14Sprott, EricSprott Mining Inc.Buy223202642.05150,0006,307,5001,551,800,753Form
15Sprott, EricSprott Mining Inc.Buy130202645.99200,0009,198,0001,690,302,847Form
16Sprott, EricSprott Mining Inc.Buy127202649.96100,0004,996,0001,826,223,052Form
17Sprott, EricSprott Mining Inc.Buy115202633.21200,0006,642,0001,210,627,510Form
18Sprott, EricSprott Mining Inc.Buy109202627.0525,000676,250854,275,572Form
19Sprott, EricSprott Mining Inc.Buy109202626.08100,0002,608,000822,989,660Form
20Thomas, David BrianSVP, General ManagerDirectSell1231202521.2115,000318,1501,719,495Form
21Sprott, EricSprott Mining Inc.Buy1230202522.70400,0009,080,000714,059,190Form
22Sprott, EricSprott Mining Inc.Buy1230202524.93200,0004,986,000774,234,855Form
23Sprott, EricSprott Mining Inc.Buy1230202524.79100,0002,479,000764,928,966Form
24Sprott, EricSprott Mining Inc.Buy1223202516.31150,0002,446,500501,636,101Form
25Sprott, EricSprott Mining Inc.Buy1218202514.60220,0003,212,000446,852,739Form
26Sprott, EricSprott Mining Inc.Buy1216202513.03200,0002,606,000395,934,167Form
27Sprott, EricSprott Mining Inc.Buy1216202513.02200,0002,604,000393,026,303Form
28Sprott, EricSprott Mining Inc.Buy1216202513.3040,000532,000398,818,482Form
29Wieshofer, MarnitrustSell1215202513.373,85951,576937,221Form
30Sprott, EricSprott Mining Inc.Buy1211202512.36120,0001,483,200370,136,911Form
31Sprott, EricSprott Mining Inc.Buy1211202511.6460,000698,400347,178,737Form
32Sprott, EricSprott Mining Inc.Buy1211202511.74300,0003,522,000349,456,972Form
33Sprott, EricSprott Mining Inc.Buy1205202510.302,340,82424,110,487303,503,426Form
34Amc, Entertainment Holdings, IncSEE NOTESSell120520250.002,340,824  Form
35Sprott, EricSprott Mining Inc.Buy1119202510.37400,0004,148,000281,291,725Form
36Sprott, Eric2176423 Ontario Ltd.Buy111420259.41500,0004,705,000251,487,218Form
37Sprott, Eric2176423 Ontario Ltd.Buy111420258.78500,0004,390,000230,260,136Form
38Sprott, Eric2176423 Ontario Ltd.Buy111420258.07500,0004,035,000207,605,011Form
Core Cache Last Updated: 11/9/2026