Start here if you're new
what it is
Hycroft Mining explores and develops a gold-and-silver mine in northern Nevada.
how it gets paid
Last year Hycroft Mining made n/a in revenue.
what just happened
Hycroft still posted a $1.04 loss per share in the latest quarter.
At a glance
C++ balance sheet — some cracks in the foundation
15/100 earnings predictability — expect surprises
-$0.94 fy2025 eps est
$33M fy2022 rev est
1.0% operating margin
xvary composite: 42/100 — below average
What they do
Hycroft Mining explores and develops a gold-and-silver mine in northern Nevada.
Hycroft controls more than 64,000 acres in one mining district. Less than 10% has been explored, so your upside is still buried in the dirt. That is not a steady business. It is a long shot with a map.
How they make money
n/a
annual revenue
The products that matter
gold and silver project development
Hycroft Mine
$33.2M revenue base · 55% larger resource estimate
it's the entire company. the 2025 resource estimate increased 55%, but the asset still has zero commercial production. that gap is the whole story.
single asset
Key numbers
$0M
trailing sales
There is no sales engine here. With $0M trailing sales, every dollar spent needs outside funding.
$0.94
fy2025 loss/share
Analysts expect the company to lose $0.94 per share next year. That is still a hole, not a return.
1.0%
operating margin
The core business loses 1 cent on every sales dollar. That leaves no cushion.
1.3
beta
The stock moves about 30% more than the market. Your quiet day is their roller coaster.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for HYMC right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Hycroft still posted a $1.04 loss per share in the latest quarter.
EDGAR shows EPS at -$1.04. Revenue was not reported, so the quarter still reads like a cost stack with no sales base.
$0M
revenue
-$1.04
eps
n/a
n/a
the number that mattered
The quarter lost $1.04 per share. That is the whole story until sales show up.
source: company earnings report and EDGAR, 2026
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What could go wrong
the top threat here is spending down the cash balance before hycroft proves mine economics.
med
pre-production cash burn
The company is funding drilling, studies, and overhead without a commercial operating business underneath it. $181.7M in cash sounds solid until you remember it has to finance uncertainty, not growth.
If cash falls faster than project confidence rises, dilution becomes the market's default assumption.
med
valuation running ahead of proof
A roughly $3B market cap against $33M in trailing revenue leaves very little room for a slow or messy development path. That's about 90x sales for a company still proving it can build the asset.
Any delay, cost shock, or weak study outcome can force the stock to reprice toward what exists today rather than what investors hope exists next.
med
resource does not equal reserve
The 55% larger resource estimate is helpful, but it is not the same as a mine plan with proven economics. Investors often blur that line. The engineering work does not.
If the prefeasibility study fails to convert geology into compelling economics, a big part of the current narrative breaks.
med
stock volatility can outrun fundamentals
HYMC's 52-week range of $2–$59 and cited 2,236% one-year surge tell you this stock can move on sentiment faster than the project can move on engineering.
That cuts both ways, but for you as a shareholder it means position sizing risk is real even when the mine story has not materially changed.
A forced reset from future-mine valuation to present-day facts would hit a business with $33M in trailing revenue, no commercial production, and a finite $181.7M cash balance.
source: institutional data · regulatory filings · risk analysis
Pay attention to
next checkpoint
prefeasibility study timing
This is the event that can turn a larger resource estimate into an actual economic argument. No date is given here, which makes the wait part of the risk.
project progress
14,500-meter drill program results
More drill data can improve confidence in the ore body. It can also do very little for valuation if investors were already expecting good geology.
balance sheet
cash balance versus burn
Watch quarterly cash updates against the $181.7M starting point. In this phase, cash is the operating metric.
macro
gold and silver price swings
A development-stage miner with no production can still trade hard on metal sentiment. If precious metals cool off, this valuation loses one of its biggest emotional supports.
Analyst rankings
earnings predictability
15 / 100
A 15 / 100 score means quarterly results are inherently noisy. In human-speak, analysts do not have a stable operating business to model yet.
risk rank
5
Risk rank 5 means this screens as riskier than roughly 95% of stocks in the dataset. That's what happens when you mix early-stage mining economics with extreme share-price swings.
source: institutional data
Institutional activity
institutional ownership data for HYMC is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$41
current price
n/a
target midpoint · n/a from current
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