NASDAQ: HYMC - Hycroft Mining Holding Corporation

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — 关键利率
Excess Key Rate — 期望超出关键利率
EPS = -2.61
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 1.34 + (1.34 * 9.16% / 100) = 1.46

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = -0.0515
Ebitda Yield = 0.0376
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 0.0185
Debt = 0.145
Market Cap = 0.0721
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0721 / (0.0721 + 0.145) = 0.3321
Weight Cost Debt = 100% - 0.3321 = 0.6679
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 2.6
β = -1.91
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -1.91 * 5.94 + 0 = -0.0875
WACC = (0.0185 / 0.145) * (100% - 0.3321) * (1 - 0.21) + -0.0875 + 0.3321 = 10
Terminal Value = Discount (-0.0515 * (1 + 0.0376) / (10 - 0.0376)) = -0.5316
Company Value = ∑ (-0.0515 / (1 + 10) ^ 5) = -0.1802
Price = (Terminal Value + Company Value) / Count shares = (-0.5316 + -0.1802) / 21110000 = -33.72

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = -0.028
FCF Yield = -0.08
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 0.0185
Debt = 0.145
Market Cap = 0.0721
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0721 / (0.0721 + 0.145) = 0.3321
Weight Cost Debt = 100% - 0.3321 = 0.6679
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 2.6
β = -1.91
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -1.91 * 5.94 + 0 = -0.0875
WACC = (0.0185 / 0.145) * (100% - 0.3321) * (1 - 0.21) + -0.0875 + 0.3321 = 10
Terminal Value = Discount (-0.028 * (1 + -0.08) / (10 - -0.08)) = -0.0889
Company Value = ∑ (-0.028 / (1 + 10) ^ 5) = -0.1284
Price = (Terminal Value + Company Value) / Count shares = (-0.0889 + -0.1284) / 21110000 = -10.29