HYMCHYCROFT MINING HOLDING CORP
Gold And Silver Ores
- Revenue
- —
- Operating margin
- —
- EBITDA
- −$42M
- 2.1% YoY
- Market cap
- $1.5B
- Employees
- —
- Net debt / EBITDA
- —
- −$211M net debt
- AI in 10-K
- 0.0
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo100% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.0 per 10K words · 0th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.5B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$122M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $111M | $33M | $0 | — | — | |
| Operating income | −$84M | −$53M | −$45M | −$44M | −$44M | 1.5% |
| Net income | −$89M | −$61M | −$55M | −$61M | −$41M | 33% |
| Operating cash flow | −$37M | −$35M | −$41M | −$36M | −$83M | 131% |
| Capex | $7M | $951K | $1M | $1M | $564K | 55% |
| Stock-based comp | $2M | $2M | $3M | $3M | $2M | 28% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Dec 30, 2025 | Sprott Eric | SCHEDULE 13D/A | 42.9% | Passive |
| Dec 18, 2025 | Sprott Eric | SCHEDULE 13D/A | 42.1% | Passive |
| Dec 5, 2025 | Sprott Eric | SCHEDULE 13D/A | 40.8% | Passive |
| Nov 14, 2025 | Sprott Eric | SCHEDULE 13D/A | 36.7% | Passive |
| Oct 16, 2025 | Sprott Eric | SCHEDULE 13D/A | 34.9% | Passive |
| Sep 12, 2025 | Sprott Eric | SCHEDULE 13D/A | 38.4% | Passive |
| Jun 17, 2025 | Sprott Eric | SCHEDULE 13D/A | 21.7% | Passive |
| Mar 22, 2023 | Mudrick Capital Management, L.P. | SC 13D/A | 4.9% | Active |
| Mar 15, 2023 | Mudrick Capital Management, L.P. | SC 13D/A | 6.1% | Active |
| Mar 7, 2023 | Mudrick Capital Management, L.P. | SC 13D/A | 7.5% | Active |
Insider trading
- Open-market buys, 12 mo
- $126M · 29
- Open-market sells, 12 mo
- $4M · 10
- Net
- $122M
Pay vs performance
No pay-versus-performance disclosure yet.