Forensic Analysis · Energy / Oil & Gas · as of Jun 27, 2026
HYCROFT MINING HOLDING CORP (HYMC)
A forensic read on HYCROFT MINING HOLDING CORP built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-9.8
Altman Z-score
Clean
Earnings quality
2
Forensic signals
-40.5%
ROE
$2.2B
Market cap
HYCROFT MINING HOLDING CORP earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -9.8, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-48%Return on invested capital.Return on invested capital is -48% and slipping from -43% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
+51.6%/yrShare-count dilution.Diluted share count changed +155% over the last 3 years to FY2025 (+51.6%/yr). The count is GROWING — existing holders are being diluted. That's ~51.6% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~155%.
Key fundamentals
Debt / Equity0.00x
Free Cash Flow$-83.4M
Return on Equity-19.0%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on HYCROFT MINING HOLDING CORP:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about HYMC's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown