VISTA GOLD CORP
VGZ · Gold and Silver Ores · 146.0M shares · +5%/yr ↑ dilution · EDGAR filings ↗
Reference price $2.20 · est. market cap ~$321M — last insider sale, 2025-12-23 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D48Pre-revenue development-stage gold company with deeply negative returns and binary funding risk on Mt Todd.
Strengths
- Strong project economics in FS (after-tax NPV5% $1.1B, 27.8% IRR) and large reserve base
- Very high current/quick ratio (~13x) and a recent $44.9M raise extend near-term runway
Risks
- Deeply negative ROE (-50%) and ROA (-46%); no operating cash flow, going-concern language
- Needs ~$425M initial capital — large dilution/financing risk before any production
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-7.2M)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-49.6%
Return on assets
-46.1%
Net-income growth
-166.7%
Current ratio
13.0×
Free cash flow
-$7M
EBITDA
-$9M
Tangible book value
$15M
Cash & investments
$14M
Cash runway
8q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-13 | Tobler Douglas L. | Option exercise | 247K | — |
| 2026-03-13 | Tobler Douglas L. | Tax withheld | 127K | $2.06 |
| 2026-03-13 | Earnest Frederick Hume | Option exercise | 39K | — |
| 2026-03-13 | Earnest Frederick Hume | Option exercise | 478K | — |
| 2026-03-13 | Earnest Frederick Hume | Option exercise | 32K | — |
| 2026-03-13 | Earnest Frederick Hume | Tax withheld | 242K | $2.06 |
| 2026-03-13 | Solly Pamela A. | Option exercise | 9.7K | — |
| 2026-03-13 | Solly Pamela A. | Option exercise | 119K | — |
| 2026-03-13 | Solly Pamela A. | Option exercise | 9.0K | — |
| 2026-03-13 | Solly Pamela A. | Tax withheld | 54K | $2.06 |
| 2026-03-13 | Tobler Douglas L. | Option exercise | 20K | — |
| 2026-03-13 | Tobler Douglas L. | Option exercise | 17K | — |
| 2025-12-23 | SUN VALLEY GOLD LLC | Sell | 400K | $2.20 |
| 2025-12-22 | SUN VALLEY GOLD LLC | Sell | 157K | $2.25 |
| 2025-12-19 | SUN VALLEY GOLD LLC | Sell | 724K | $2.10 |
| 2025-11-12 | SUN VALLEY GOLD LLC | Sell | 1.2M | $1.74 |
| 2025-10-16 | SUN VALLEY GOLD LLC | Sell | 2.9K | $2.27 |
| 2025-10-16 | SUN VALLEY GOLD LLC | Sell | 2.9K | $2.27 |
| 2025-10-14 | SUN VALLEY GOLD LLC | Sell | 365K | $2.19 |
| 2025-10-14 | SUN VALLEY GOLD LLC | Sell | 365K | $2.19 |
| 2025-10-13 | SUN VALLEY GOLD LLC | Sell | 176K | $2.19 |
| 2025-10-13 | SUN VALLEY GOLD LLC | Sell | 176K | $2.19 |
| 2025-10-09 | SUN VALLEY GOLD LLC | Sell | 137K | $2.21 |
| 2025-10-09 | SUN VALLEY GOLD LLC | Sell | 137K | $2.21 |
| 2025-10-09 | SUN VALLEY GOLD LLC | Sell | 137K | $2.21 |
| 2025-10-08 | SUN VALLEY GOLD LLC | Sell | 169K | $2.34 |
| 2025-10-08 | SUN VALLEY GOLD LLC | Sell | 169K | $2.34 |
| 2025-10-08 | SUN VALLEY GOLD LLC | Sell | 169K | $2.34 |
| 2025-10-01 | SUN VALLEY GOLD LLC | Sell | 15K | $2.20 |
| 2025-10-01 | SUN VALLEY GOLD LLC | Sell | 15K | $2.20 |
| 2025-09-22 | SUN VALLEY GOLD LLC | Sell | 200K | $2.30 |
| 2025-09-22 | SUN VALLEY GOLD LLC | Sell | 200K | $2.30 |
| 2025-09-19 | SUN VALLEY GOLD LLC | Sell | 400K | $2.21 |
| 2025-09-19 | SUN VALLEY GOLD LLC | Sell | 400K | $2.21 |
| 2025-05-22 | SUN VALLEY GOLD LLC | Other | 3.4M | $1.22 |
| 2025-03-05 | Solly Pamela A. | Option exercise | 83K | — |
| 2025-03-05 | Solly Pamela A. | Tax withheld | 33K | $0.72 |
| 2025-03-05 | Tobler Douglas L. | Option exercise | 173K | — |
| 2025-03-05 | Tobler Douglas L. | Tax withheld | 81K | $0.72 |
| 2025-03-05 | Earnest Frederick Hume | Option exercise | 334K | — |
| 2025-03-05 | Earnest Frederick Hume | Tax withheld | 154K | $0.72 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
- P&G Consulting Services LLC
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-04-30 | ResultsExhibits | filing ↗ |
| 2026-04-28 | Exec/director changeShareholder voteReg FDExhibits | filing ↗ |
| 2026-03-11 | ResultsExhibits | filing ↗ |
| 2026-03-09 | Reg FDExhibits | filing ↗ |
| 2026-03-02 | Material agreementReg FDExhibits | filing ↗ |
| 2026-02-25 | OtherExhibits | filing ↗ |
| 2025-11-12 | ResultsExhibits | filing ↗ |
| 2025-09-11 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-04-30 | 2026-03-31 | 0000783324-26-000025 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0000783324-26-000029 ↗ |
| 8-K | 2026-04-28 | 2026-04-28 | 0000783324-26-000022 ↗ |
| 8-K | 2026-03-11 | 2026-03-11 | 0000783324-26-000011 ↗ |
| 10-K | 2026-03-11 | 2025-12-31 | 0000783324-26-000009 ↗ |
| 8-K | 2026-03-09 | 2026-03-09 | 0000783324-26-000003 ↗ |
| 8-K | 2026-03-02 | 2026-02-26 | 0001104659-26-022306 ↗ |
| 8-K | 2026-02-25 | 2026-02-25 | 0001104659-26-019667 ↗ |
| 10-Q | 2025-11-12 | 2025-09-30 | 0000783324-25-000055 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0000783324-25-000058 ↗ |
| 8-K | 2025-09-11 | 2025-09-11 | 0000783324-25-000051 ↗ |
| 10-Q | 2025-08-12 | 2025-06-30 | 0000783324-25-000044 ↗ |