Why Hycroft Mining Stock Sank 30% In March

By Brett Schafer – Apr 6, 2026 at 1:35PM ESTKey PointsHycroft Mining stock fell along with gold and silver prices. The company owns land that could be mined for gold and silver, but it generates no revenue right now. The fact it doesn't have an operating business today should keep people away from the stock. Shares of Hycroft Mining (HYMC +0.97%) fell 30.1% last month, according to data from S&P Global Market Intelligence. Investors shied away from speculative stocks amid global turmoil, with gold and silver prices falling significantly last month. Instead of a global safe haven, metals have been turned into speculative assets over the past year, and investors are now fleeing them. Hycroft Mining is a prospective gold and silver miner that was benefiting from these rising prices, with its own shares up over 1,000% in the last twelve months. Now, the party has ended, at least for now. Here's why Hycroft Mining stock fell last month. ExpandNASDAQ: HYMCHycroft MiningToday's Change(0.97%) $0.35Current Price$36.36Key Data PointsMarket Cap$3.3BDay's Range$34.60 - $36.8052wk Range$2.30 - $58.73Volume1.6MAvg Vol4.8M Following the price of gold and silver, not yet a safe haven The price of gold hit $5,440 in late January. Silver almost reached $120 an ounce. Both were up significantly in the last year, with gold close to doubling and silver going from $30 an ounce to $120, a quadruple. Since then, the last two months have been a poor period for metals investors. Silver is back down to $72, while gold has held up slightly better but is still down to around $4,650 an ounce. As a prospective miner of gold and silver, Hycroft Mining stock collapsed along with these commodity prices last month. The company is a small outfit based in Nevada that is planning to start a mine in the coming years, and its stock price has exploded higher on momentum-driven metals trading over the last 12 months. Despite reports of better mineral deposits on the land it owns, Hycroft Mining has fallen quickly, breaking the momentum that took the stock up 10x in the past year. Image source: Getty Images. Should you buy Hycroft Mining stock? Despite rising alongside the prices of gold and silver, Hycroft Mining does not actually conduct any mining operations today. It generated zero revenue in 2025 and burned $38 million in free cash flow. The business has never been profitable. Sure, the company does have a lot of cash on the balance sheet, but that has come at shareholders' expense through common stock offerings, significantly increasing shares outstanding in recent years. Plus, mining operations require substantial upfront capital to get started, and it is unclear exactly how long it would take to get gold and silver to market. Hycroft Mining's stock rose alongside the prices of gold and silver, but it was unable to capitalize on these higher prices by actually mining the metals. For this reason, investors should stay away from the stock at the moment. Read NextMar 20, 2026 •By Brett SchaferWhy Shares of Hycroft Mining Stock Sank 18% This WeekMar 10, 2026 •By Eric VolkmanWhy Hycroft Mining Stock Triumphed on TuesdayApr 6, 2026 •By Matt DiLalloPresident Trump Has Set a Deadline for Reopening the Strait of Hormuz. Here's How Oil Stocks are Reacting.Apr 6, 2026 •By Geoffrey SeilerAs a Former Hedge Fund Analyst, These Are the 3 Stocks I'd Be Pitching My Portfolio Manager TodayApr 6, 2026 •By James HiresThe Top Three Nuclear Energy Stocks to Buy Right NowApr 6, 2026 •By Keith NoonanWhy Micron Stock Is Sinking TodayAbout the AuthorBrett Schafer is a contributing Motley Fool stock market analyst covering consumer goods, financials, technology, and industrials. Brett is a self-taught investor and has hosted the Chit Chat Stocks podcast since 2018. He previously worked as a lab engineer for science laboratories. He holds a bachelor’s degree in mechanical engineering with minors in finance and mathematics from Washington State University. His lab work on Major League Baseball’s juiced ball problem was featured in The Wall Street Journal and other national outlets.TMFBrettSchaferX@CCM_BrettStocks MentionedHycroft MiningNASDAQ: HYMC$36.36(+0.97%)+$0.35*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.