One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Hycroft Mining Holding Corporation
HYMC · NCM · Basic Materials · Gold
Current price
$21.48
52-week range
$5.92 - $58.73
Market cap
$2.00B
Balance sheet
Healthy
-4.09x Concerning
Net cash $220.71M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
1 Risk
0 rewards · 1 risks
View details ↓What this company does
Hycroft Mining Holding Corporation
Hycroft Mining is a company that explores for gold and silver on a massive piece of land it controls in Nevada. It is not yet selling metals; its main activity is preparing the site for future mining. Therefore, the company's value is based on the potential to successfully find and profitably extract these precious metals down the road.
How the company got here
Hycroft Mining owns a large gold and silver deposit in Nevada called the Hycroft Mine, which has a long history of operations. In 2020, the company went public through a merger with a special purpose acquisition company (a shell company set up to buy another business and take it public). A key turning point came in March 2022, when movie theater chain AMC Entertainment and famed precious metals investor Eric Sprott made a significant investment, providing Hycroft with much-needed capital (money to run and grow the business). This investment allowed the company to shift its focus from small-scale production to a more ambitious plan of exploring and developing its vast resources for the long term. Since then, Eric Sprott has increased his ownership, including buying most of AMC's stake in late 2025, signaling strong confidence in the mine's future.
What it actually does
Hycroft is not currently selling gold or silver; instead, it is a development-stage company focused on its single asset, the Hycroft Mine in northern Nevada. Think of it like a real estate developer that has a huge piece of land but is still in the planning and construction phase before it can rent out buildings. Hycroft's 'land' contains one of the largest deposits of gold and silver in the world. The company's main activities involve drilling to better understand the size and quality of these deposits and conducting technical studies to figure out the best and most profitable way to extract the metals from the ground.
Hycroft Mine Development
The company's entire business is centered on advancing the Hycroft Mine toward renewed and expanded production. This single segment doesn't generate revenue (income from sales) yet, as the company is investing in preparing the mine for future operations. Its main focus is on two key areas: exploring newly discovered high-grade silver areas named Brimstone and Vortex, and determining the best method for processing the different types of ore (metal-bearing rock) found at the site. Because it is not yet producing metals, the company's success depends entirely on its ability to eventually develop and operate this mine profitably.
What management is betting on now
Management's primary bet is on proving the massive value of the Hycroft Mine by moving it toward production. A major focus is on the exploration and expansion of the recently discovered Brimstone and Vortex high-grade silver systems, which could significantly improve the mine's future profitability. They are also conducting detailed studies to decide on the optimal processing technology, weighing options like heap leaching versus a more complex milling process, which could even create an additional revenue stream (a source of income) by selling sulfuric acid as a byproduct. The ultimate goal is to define the most efficient and economical path to restart mining operations and deliver value to its shareholders (the owners of the company).
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-8.00M
FY2024 Q4
$-8.37M
FY2025 Q1
$-9.87M
FY2025 Q2
$-9.25M
FY2025 Q3
$-3.49M
FY2025 Q4
$-60.83M
FY2026 Q1
$-31.89M
FY2026 Q2
$-13.02M
Revenue
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Net income
$-20.75M
Diluted EPS
-0.23
Operating cash flow
$-12.75M
Free cash flow
$-13.02M
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Sources
Revenue
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Net income
$-48.29M
Diluted EPS
-0.54
Operating cash flow
$-31.31M
Free cash flow
$-31.89M
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Sources
Revenue
—
Net income
$-7.79M
Diluted EPS
0.18
Operating cash flow
$-60.72M
Free cash flow
$-60.83M
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Sources
Revenue
—
Net income
$-9.38M
Diluted EPS
-0.22
Operating cash flow
$-3.44M
Free cash flow
$-3.49M
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Sources
Revenue
—
Net income
$-11.74M
Diluted EPS
-0.43
Operating cash flow
$-9.02M
Free cash flow
$-9.25M
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Sources
Revenue
—
Net income
$-11.76M
Diluted EPS
-0.47
Operating cash flow
$-9.70M
Free cash flow
$-9.87M
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Sources
Revenue
—
Net income
$-12.74M
Diluted EPS
-0.47
Operating cash flow
$-8.10M
Free cash flow
$-8.37M
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Sources
Revenue
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Net income
$-14.23M
Diluted EPS
-0.59
Operating cash flow
$-7.47M
Free cash flow
$-8.00M
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Sources
Is it cheap or expensive?
Fair value — vs current price $21.48
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $220.7M - more cash than debt. Interest coverage -4.1x.
Net debt
$-220.71M
Interest coverage
-4.09x
Hycroft Mining Holding Corporation's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
HYMC
BASELINE
Hycroft Mining Holding Corporation
Total debt $23.00K Interest coverage -4.09x This is the baseline the peer rows are being compared against.
Total debt $449.04M Interest coverage -3.42x Neither company has much profit cushion over interest right now.
Total debt $713.16M Interest coverage 27.14x This peer still has a real interest-payment cushion, while HYMC does not.
Total debt $2.30M Interest coverage 32.21x This peer still has a real interest-payment cushion, while HYMC does not.
What you should know
The case for and against HYMC
0 Rewards
1 Risk
Rewards
Risks
-
Return on equity was -73.2% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-29.63x
P/B
7.97x
P/S
—
EV/EBITDA
-18.61x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
0.0%
Net margin
0.0%
ROE
-73.2%
ROA
-26.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.00x
Current ratio
39.21x
Quick ratio
38.42x
Total debt
$23.00K
Total cash
$220.73M
Growth
How the business has been compounding
Revenue TTM
$0.00
Revenue 5Y CAGR
—
EPS TTM
-0.81
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-108.22M
Free CF TTM
$-83.44M
FCF margin
—
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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