Silver Bow Mining (SBMT)


Market Price (11/6/2026): $5.26 | Market Cap: $155.3 MilSector: Materials | Industry: Diversified Metals & Mining

Silver Bow Mining (SBMT)


Market Price (11/6/2026): $5.26
Market Cap: $155.3 Mil
Sector: Materials
Industry: Diversified Metals & Mining

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 -38%

Weak multi-year price returns
2Y Excs Rtn is -86%, 3Y Excs Rtn is -134%

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 -11 Mil

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%

Key risks
SBMT key risks include [1] its status as 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 -38%
1 Weak multi-year price returns
2Y Excs Rtn is -86%, 3Y Excs Rtn is -134%
2 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -11 Mil
4 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%
5 Key risks
SBMT key risks include [1] its status as a pre-revenue, Show more.

SBMT in ETFs

Weight = SBMT's share of each fund

IWM0.00%
IWO0.00%
VTWO0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 11/5/2026

Silver Bow Mining (SBMT) stock has lost about 20% since 7/31/2026 because of the following key factors:

1. Post-IPO Lock-Up Expiration and Initial Trading Performance. Silver Bow Mining (SBMT) completed its Initial Public Offering (IPO) on April 30, 2026, with shares priced at $11.50. The company's lock-up period expired on October 27, 2026, which likely contributed to selling pressure as insiders and major shareholders became eligible to trade their shares. Since its IPO, the stock has traded significantly below its initial offering price, with recent prices around $5.97 to $7.36, and a 52-week high of $11.50 and a low of $5.19. This indicates a substantial decline from its IPO value even before the lock-up expiry, with a 3-month decline of 24.36% (approximately August to November 2026).

2. Disappointing Q2 2026 Earnings and Anticipation of Continued Losses. Silver Bow Mining published its fiscal Q2 2026 earnings report on August 13, 2026. In this report, the company missed the consensus EPS estimate, posting -$0.28 per share against an estimated -$0.2744. Furthermore, the market anticipates continued losses for the upcoming fiscal Q3 2026 (ending September 30, 2026), with a consensus EPS estimate of -$0.2817 per share on expected revenue of $111 thousand. This consistent negative earnings performance and outlook likely fueled investor concerns during the specified period.

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Updated on 11/5/2026

Silver Bow Mining (SBMT) stock has lost about 20% since 7/31/2026 because of the following key factors:

1. Post-IPO Lock-Up Expiration and Initial Trading Performance. Silver Bow Mining (SBMT) completed its Initial Public Offering (IPO) on April 30, 2026, with shares priced at $11.50. The company's lock-up period expired on October 27, 2026, which likely contributed to selling pressure as insiders and major shareholders became eligible to trade their shares. Since its IPO, the stock has traded significantly below its initial offering price, with recent prices around $5.97 to $7.36, and a 52-week high of $11.50 and a low of $5.19. This indicates a substantial decline from its IPO value even before the lock-up expiry, with a 3-month decline of 24.36% (approximately August to November 2026).

2. Disappointing Q2 2026 Earnings and Anticipation of Continued Losses. Silver Bow Mining published its fiscal Q2 2026 earnings report on August 13, 2026. In this report, the company missed the consensus EPS estimate, posting -$0.28 per share against an estimated -$0.2744. Furthermore, the market anticipates continued losses for the upcoming fiscal Q3 2026 (ending September 30, 2026), with a consensus EPS estimate of -$0.2817 per share on expected revenue of $111 thousand. This consistent negative earnings performance and outlook likely fueled investor concerns during the specified period.

3. Delays and Amendments in Acquisition Process. Silver Bow Mining announced an amendment to its asset purchase agreement with Montana Goldfields, Inc. and Montana Tunnels Mining, Inc. on October 23, 2026, with an effective date of October 14, 2026. This amendment modified the original agreement from August 21, 2026, specifically altering the timing and requirements for the delivery of audited financial statements and the preparation of a proxy statement for a planned shareholder meeting. Such complications and delays in a significant acquisition can introduce uncertainty and negatively impact investor confidence.

4. Decline in Precious Metal Prices in Fiscal Q3 2026. While broader metal and mineral prices generally performed well in 2026, precious metals, which include silver and gold—key focuses for Silver Bow Mining—experienced downward pressure. According to the World Bank's October 2026 outlook, precious metals declined by 6.2% in October 2026. VanEck also noted that gold came under pressure in fiscal Q3 2026. This decline in the prices of key commodities directly impacts Silver Bow Mining's revenue potential and overall market valuation.

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Stock Movement Drivers

Fundamental Drivers

The -18.6% change in SBMT stock from 7/31/2026 to 11/5/2026 was primarily driven by a 5.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)731202611052026Change
Stock Price ($)6.495.28-18.6%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)29285.4%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/5/2026
ReturnCorrelation
SBMT-18.6% 
Market (SPY)-1.9%33.4%
Sector (XLB)3.8%29.4%

Fundamental Drivers

The -50.9% change in SBMT stock from 4/30/2026 to 11/5/2026 was primarily driven by a 5.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)430202611052026Change
Stock Price ($)10.755.28-50.9%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)29285.4%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/5/2026
ReturnCorrelation
SBMT-50.9% 
Market (SPY)2.3%30.2%
Sector (XLB)2.1%34.2%

Fundamental Drivers

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Market Drivers

10/31/2025 to 11/5/2026
ReturnCorrelation
SBMT  
Market (SPY)8.4%30.2%
Sector (XLB)23.8%34.2%

Fundamental Drivers

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Market Drivers

10/31/2023 to 11/5/2026
ReturnCorrelation
SBMT  
Market (SPY)81.3%30.2%
Sector (XLB)45.1%34.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SBMT Return------51%-51%
Peers Return8%19%-17%58%97%-19%168%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
SBMT Win Rate-----12% 
Peers Win Rate42%50%50%53%64%35% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
SBMT Max Drawdown------ 
Peers Max Drawdown-58%-51%-37%-39%-47%-62% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: WRN, XPL, AMRO, BMMX, NVA.
[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 11/5/2026 (YTD)

How Low Can It Go

SBMT 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 WRN, XPL, AMRO, BMMX, NVA

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.

SBMT 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 WRN, XPL, AMRO, BMMX, NVA

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 Silver Bow Mining (SBMT)

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Silver Bow Mining (SBMT) is a minerals exploration company with its principal executive offices located in Butte, Montana. The company is primarily focused on discovering and developing deposits of valuable base and precious metals, including silver, zinc, gold, lead, and copper. Currently, Silver Bow Mining operates as an exploration-stage company, meaning it is engaged in the process of evaluating its mineral properties and does not yet have any active mining operations, commercial products, or revenue-generating services.

The company's core assets consist of approximately 4,193 acres of patented mineral claims situated in Silver Bow County, Montana, USA. A significant portion of these holdings includes the "Rainbow Block," which covers about 878 acres and possesses over a century of historical exploration and mining data. Additionally, Silver Bow Mining holds rights to other claims in the county such as the Marget Ann, Goldsmith, Great Republic, Travona, and Emma Blocks. The company's strategic objective is to continue exploration on the Rainbow Block, aiming to complete a feasibility study that would ultimately guide a determination on the economic and legal viability of future mineral production. If successful in transitioning to mining, its eventual products would be raw mineral commodities, such as concentrates of silver, zinc, gold, lead, and copper, intended for industrial buyers in global metals markets.

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1. Think of them as an exploration-stage Rio Tinto, but focused on finding silver and zinc deposits.

2. They're like a biotech company in early-stage trials, but for mineral assets instead of drugs.

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  • Mineral Exploration: The company conducts exploration activities to identify and assess deposits of silver, zinc, gold, lead, and copper in Montana.

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Based on the provided background information, Silver Bow Mining (SBMT) is an exploration stage company. The company states, "We are an exploration stage company, with no history of operations, mining or refining mineral products."

As such, Silver Bow Mining currently has no products to sell and therefore does not have any customers at this time. Its business plan is focused on continuing exploration to move towards a feasibility study, not on current production or sales.

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Travis Naugle Chairman & CEO
Travis Naugle brings over two decades of experience in developing precious and strategic metals projects across the American West and other strategic geographies. He has structured and executed significant agreements with industry leaders such as Rio Tinto Nuton, Kennecott Exploration, and Freeport-McMoRan. Mr. Naugle's strategic vision led to successful ventures at the Kupol silver-gold project in Russia, Alaska's Kensington gold mine, and Nevada's Yerington copper district. He also played a key role in a bilateral mining treaty between Russia and China through his work with China National Gold. He has held leadership roles with Falcon Butte Minerals Corp., Lion Copper and Gold Corp., Falcon Copper Corp., and Redhill Global. A licensed Professional Engineer in Montana, Mr. Naugle holds an MBA from the University of Chicago Booth School of Business and a bachelor's degree in mining engineering from Montana Tech.

Wade Black CFO
Mr. Black has over 30 years of experience on Wall Street, beginning his career at Brimberg & Co. in 1994. He co-founded Leeb Brokerage in 1998, serving as its CFO, and later founded Scarsdale Equities in 2005, where he was COO until 2020. He has served on the boards of various mining companies, including US Silver Corp., and most recently held a position as a Principal at R.F. Lafferty & Co. Mr. Black holds a BA in Economics and Philosophy from Columbia University and an MBA from Columbia University.

Kevin Shiell COO
Kevin Shiell is a seasoned mine operations leader with over 30 years of experience managing mining operations, processing facilities, and multi-asset portfolios throughout North America. He has held senior operations roles, including President, Vice President, General Manager, and site leader, overseeing projects from early-stage development and mine restarts to large-scale producing operations with annual budgets exceeding $300 million. His expertise spans operational improvement, infrastructure development, production growth, labor relations, and safety-driven performance, managing workforces of up to 1200 employees. His experience in Montana includes serving as VP of Mining for Stillwater Mining Company.

Phil Nickerson Vice President of Exploration
Dr. Phil Nickerson is an economic geologist with extensive experience in base and precious metals exploration across the United States. He studied economic geology at the University of Arizona and has published influential papers on copper deposits in the Southwestern United States. Prior to joining Silver Bow Mining, he served as Senior Geologist at EMX Royalty Corp and later as a Principal Geologist at Rio Tinto, focusing on copper exploration in North America and providing technical support for Rio Tinto's Nuton venture. Immediately before his current role, he was the Exploration Manager – USA at Rio Tinto.

Doug Stiles Vice President of Regulatory and External Affairs
Doug Stiles is an experienced mining executive with 25 years of experience in addressing complex regulatory, operational, and project challenges within the mining sector. His expertise includes environmental compliance, permitting, and mine operations across multiple U.S. states, including Nevada. He previously held positions at Hecla Mining Company as Director of Environmental Operations and as General Manager at Revett Silver Company (a Hecla subsidiary), where he managed regulatory issues, mine cleanup efforts, and operational strategies at sites such as the Troy Mine.

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Exploration Stage Company with No Assured Production or Commercial Viability

Silver Bow Mining is an exploration stage company with no history of operations, mining, or refining mineral products. There is no assurance that its primary mineral claim property, the "Rainbow Block," will be successfully placed into production, produce minerals in commercial quantities, or otherwise generate operating earnings. The company's business plan is to continue exploration to complete a feasibility study, at which point a production determination will be made, contingent on economic and legal viability. As such, the company currently has no revenue-generating operations and its future success is entirely dependent on the uncertain outcome of its exploration efforts and the potential for commercially viable mineral extraction.

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Expected Drivers of Future Revenue Growth for Silver Bow Mining (SBMT)

For Silver Bow Mining (SBMT), an exploration-stage company with no current operational revenue, future revenue growth over the next 2-3 years will be driven by key milestones that advance its projects towards commercial production. These include:

  • Progression of the Rainbow Block Project Towards and Through a Feasibility Study: Silver Bow Mining's business plan centers on continuing exploration of its flagship Rainbow Block property to move towards completing a feasibility study. Successful advancement through drilling programs and comprehensive technical assessments, culminating in a positive feasibility study, is critical for determining the economic and legal viability of production.

  • Securing Financing for Mine Development and Construction: As a pre-revenue company, significant capital will be required to transition from exploration to active mine development and construction. The successful acquisition of necessary funding beyond initial IPO proceeds is a fundamental driver for enabling future operational revenue.

  • Favorable Market Conditions for Target Minerals: The company focuses on silver, zinc, gold, lead, and copper. Sustained strong demand and favorable pricing for these critical and precious metals, driven by industrial, technological, and investment factors, including the push for electrification and renewable energy, will significantly enhance the economic attractiveness and profitability of any future mining operations.

  • Upgrading Mineral Resource Classification and Expanding the Resource Base: The Rainbow Block currently hosts an initial Inferred Mineral Resource. Converting these inferred resources into higher classifications (Measured and Indicated) through extensive drilling and studies, and potentially expanding the overall resource base within the Rainbow Block and other patented claims (Marget Ann, Goldsmith, Great Republic, Travona, and Emma Blocks), will strengthen the project's profile and potential scale of future revenue.

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Share Issuance

  • Silver Bow Mining plans an Initial Public Offering (IPO) on April 29, 2026, offering 4.35 million shares at a price range of $10.00 to $13.00, aiming to raise approximately $50.03 million.
  • As of recent data, the company has 27.85 million shares outstanding.
  • Prior to the IPO, the company's share capital increased from $65,144,084 on October 31, 2023, to $99,599,802 on July 31, 2025, indicating significant share issuances for capital.

Inbound Investments

  • Silver Bow Mining is undertaking an Initial Public Offering (IPO) on April 29, 2026, intending to raise approximately $50 million.
  • Proceeds from the IPO are primarily allocated to advance exploration and development activities at its flagship Rainbow Block project, as well as for general corporate purposes and working capital.
  • The company has received support from several institutional investors as it progressed towards its initial public offering.

Capital Expenditures

  • Capital expenditures for the last 12 months were approximately $181,157.
  • The estimated $50 million from the upcoming IPO is primarily earmarked for continued exploration of the Rainbow Block, aiming to complete a feasibility study.
  • Exploration expenditures, which constitute capital expenditures, significantly increased to $12,988,339 for the nine months ended July 31, 2025, from $1,959,634 in the same period of 2024, focusing on drilling, environmental studies, and geological work.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

SBMTWRNXPLAMROBMMXNVAMedian
NameSilver B.Western .Solitari.Amaero Black Ma.Nova Min. 
Mkt Price5.261.520.465.402.904.653.78
Mkt Cap0.10.30.0---0.1
Rev LTM000-0-0
Op Inc LTM-11-9-5--2--7
FCF LTM-12-22-4--2--8
FCF 3Y Avg--22-4--2--4
CFO LTM-10-2-4--0--3
CFO 3Y Avg--4-4--0--4

Growth & Margins

SBMTWRNXPLAMROBMMXNVAMedian
NameSilver B.Western .Solitari.Amaero Black Ma.Nova Min. 
Rev Chg LTM-------
Rev Chg 3Y Avg-------
Rev Chg Q-------
QoQ Delta Rev Chg LTM-------
Op Inc Chg LTM-17.2%-6.9%12.2%--188.1%--12.1%
Op Inc Chg 3Y Avg--23.7%-16.3%--137.2%--23.7%
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM-------
CFO/Rev 3Y Avg-------
FCF/Rev LTM-------
FCF/Rev 3Y Avg-------

Valuation

SBMTWRNXPLAMROBMMXNVAMedian
NameSilver B.Western .Solitari.Amaero Black Ma.Nova Min. 
Mkt Cap0.10.30.0---0.1
P/S-------
P/Op Inc-13.5-38.6-8.4----13.5
P/EBIT-14.0-38.6-8.4----14.0
P/E-14.0-56.5-9.3----14.0
P/CFO-14.1-141.7-10.8----14.1
Total Yield-7.1%-1.7%-10.9%----7.1%
Dividend Yield0.0%0.0%0.0%---0.0%
FCF Yield 3Y Avg--7.7%-6.3%----7.0%
D/E0.00.00.0---0.0
Net D/E-0.4-0.4-0.2----0.4

Returns

SBMTWRNXPLAMROBMMXNVAMedian
NameSilver B.Western .Solitari.Amaero Black Ma.Nova Min. 
1M Rtn-34.7%-30.0%-18.4%22.4%-6.3%-17.8%-18.1%
3M Rtn-22.4%-34.8%-37.2%22.4%-6.3%-14.7%-18.5%
6M Rtn-49.2%-48.3%-46.0%22.4%-6.3%-27.8%-36.9%
12M Rtn-51.1%-21.2%-23.1%22.4%-6.3%-29.9%-22.2%
3Y Rtn-51.1%19.7%-8.8%22.4%-6.3%384.4%6.7%
1M Excs Rtn-32.8%-25.1%-15.4%23.9%-4.8%-9.9%-12.6%
3M Excs Rtn-22.9%-36.1%-38.7%23.3%-5.4%-17.8%-20.3%
6M Excs Rtn-54.0%-53.0%-50.8%17.6%-11.4%-32.9%-41.9%
12M Excs Rtn-64.6%-32.9%-38.8%8.8%-20.6%-40.8%-35.8%
3Y Excs Rtn-134.1%-57.1%-93.6%-61.7%-94.5%295.9%-77.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil202520242023
Exploration of its mineral properties000
Total000


Assets by Segment
$ Mil202520242023
Exploration of its mineral properties503933
Total503933


Price Behavior

Price Behavior
Market Price$5.28 
Market Cap ($ Bil)0.1 
Distance from 52W High-50.9% 
   50 Days200 Days
DMA Price$7.58 
DMA Trendindeterminate 
Distance from DMA-30.3% 
 3M1YR
Volatility70.2%81.4%
Downside Capture106.98 
Upside Capture35.29 
Correlation (S&P 500)17.3% 
SBMT Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta0.010.420.231.28-0.01-0.86
Up Beta3.190.35-0.561.42-0.60-0.21
Down Beta0.382.723.403.73-1.870.63
Up Capture-338%-147%-51%-23%-9%-1%
Bmk +ve Days12182862130427
Stock +ve Days61425484848
Down Capture217%145%-14%125%73%42%
Bmk -ve Days10253664121325
Stock -ve Days162837757575

[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 SBMT
SBMT-51.0%81.4%-1.33-
Sector ETF (XLB)25.3%18.2%1.0834.2%
Equity (SPY)9.5%13.6%0.4130.2%
Gold (GLD)3.6%28.7%0.1150.9%
Commodities (DBC)37.7%21.2%1.40-11.2%
Real Estate (VNQ)12.0%14.2%0.5512.8%
Bitcoin (BTCUSD)-20.8%43.3%-0.4222.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SBMT
SBMT-13.3%81.4%-1.33-
Sector ETF (XLB)6.1%19.2%0.2034.2%
Equity (SPY)11.3%17.3%0.4830.2%
Gold (GLD)17.5%19.1%0.7450.9%
Commodities (DBC)8.0%19.6%0.29-11.2%
Real Estate (VNQ)1.2%18.9%-0.0512.8%
Bitcoin (BTCUSD)5.9%51.5%0.2922.9%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SBMT
SBMT-6.9%81.4%-1.33-
Sector ETF (XLB)10.5%20.7%0.4534.2%
Equity (SPY)14.9%18.0%0.7030.2%
Gold (GLD)12.0%16.5%0.5950.9%
Commodities (DBC)7.6%18.1%0.33-11.2%
Real Estate (VNQ)5.7%20.7%0.2312.8%
Bitcoin (BTCUSD)61.3%66.2%1.0122.9%

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

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 9302026-47.9%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest1.3 days
Basic Shares Quantity27.9 Mil
Short % of Basic Shares0.4%

Earnings Returns History

Updated 6/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   
Collapse to Preview
 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
06/30/202608/13/202610-Q
03/31/202605/14/202610-Q
12/31/202504/30/2026424B4
09/30/202501/23/2026S-1
06/30/202510/02/2025DRS
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/14/202610-Q
12/31/202504/30/2026424B4
09/30/202501/23/2026S-1
06/30/202510/02/2025DRS

Insider Activity

Updated 10/27/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Nickerson, Phillip AnsonVice President of ExplorationDirectBuy100120268.865004,430199,350Form
2Naugle, Charles TravisChief Executive OfficerDirectBuy90920268.281,50012,420953,119Form
3Naugle, Charles TravisChief Executive OfficerDirectBuy60220269.642,50024,1121,060,950Form
4Black, Wade NewtonChief Financial Officerby IRABuy60120269.692,50024,23196,923Form
5Black, Wade NewtonChief Financial Officerby IRABuy52720268.505,00042,50263,754Form
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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Nickerson, Phillip AnsonVice President of ExplorationDirectBuy100120268.865004,430199,350Form
2Naugle, Charles TravisChief Executive OfficerDirectBuy90920268.281,50012,420953,119Form
3Naugle, Charles TravisChief Executive OfficerDirectBuy60220269.642,50024,1121,060,950Form
4Black, Wade NewtonChief Financial Officerby IRABuy60120269.692,50024,23196,923Form
5Black, Wade NewtonChief Financial Officerby IRABuy52720268.505,00042,50263,754Form
6Naugle, Charles TravisChief Executive OfficerDirectBuy51820268.832,50022,075949,225Form
Core Cache Last Updated: 11/5/2026