Why VGZ Stock dropped -3.49% Today — RQD Quant Desk Flash

Per the Roarable RQD rating, VGZ scores 42 out of 100 with a letter grade of D-, labeled "Roarable Sell — Vulnerable Balance Sheet & Flow." The fundamental cash engine pillar scores 8 out of 20, reflecting ROIC of -35% and an FCF yield of -1.91%; for a prospective investor, this means the business is not currently generating returns on invested capital or positive free cash flow, so value must rest on factors outside present earnings power. The whale/13F flow pillar scores 11 out of 20, described in the rating as institutional accumulation and options positioning; this is the strongest pillar and represents the main potential upside driver, though the source does not itemize the underlying 13F holdings. The insider conviction pillar scores 3 out of 20, based on SEC Form 4 and Congressional PTR cluster flow, which signals weak insider-level conviction and is a meaningful negative. The macro regime fit pillar scores 10 out of 20, with beta at 1.0 and the rating noting sector sensitivity; a market-matching beta means the stock is not structurally insulated from broad moves. The forensic balance sheet pillar scores 10 out of 20, with Altman Z at 2.5, Piotroski F at 2 of 9, and Debt/Equity at 0.5; the weak Piotroski reading and the Altman figure together suggest financial fragility that a prospective investor should weigh against the stock's valuation tradeoffs. Taken together, the rating implies that upside depends on a shift in cash generation and flow sentiment that the current data does not yet show.

Vista Gold Corp is listed on the NYSE and classified in the Materials sector and Precious Metals industry, per the profile section. The source data does not describe its products, customers, or revenue model. The financials section reports revenue of $0.0M for each of FY 2023, FY 2024, and FY 2025, so the source does not show a revenue-generating operation during these periods.

Per the SEC financials, operating income and net income were negative in FY 2025 and FY 2023 but positive in FY 2024, while free cash flow was negative in all three reported periods. Gross, operating, and net margins are each listed as 0% in the market data, and ROIC is -35%. Per the Roarable RQD rating, the Altman Z-Score is 2.5 and the Piotroski F-Score is 2 of 9, with Debt/Equity at 0.5. Cash decreased from $16.9M in FY 2024 to $13.6M in FY 2025 per the SEC financials.

The recent news section contains six items, all tagged to VGZ, sourced from Moomoo, Yahoo Finance UK, Yahoo Finance Canada, and Stock Traders Daily, and all carrying a YELLOW light and MARKET WIRE impact label. The headlines are largely quote, chart, and report pages (options chain, seasonal returns charts, and a trading report) and their summaries describe generic coverage of market action, institutional positioning, and fundamental catalysts; none names a specific fundamental event. Because the items are generic, they do not identify a discrete catalyst. The butterfly supply-chain graph reports supply chain as NONE, with no butterfly links and no proprietary signals.

Per the Butterfly Supply-Chain Graph, the supply chain is listed as NONE, with no butterfly links and no proprietary signals. Upstream and downstream dependencies, sector correlations, and bottlenecks are therefore not available in source data. The only sector context is the classification of Materials and Precious Metals per the profile section.

• What specific assets, projects, or revenue sources does Vista Gold hold, given reported revenue of $0.0M across all periods?
• What explains the positive FY 2024 net income of $11.2M against negative operating income in FY 2025 and FY 2023, and was it recurring or one-time?
• What are the debt figures, since the financials list debt as N/A for every period while the rating cites Debt/Equity of 0.5?
• What 13F institutional holders and insider transactions make up the whale and insider pillar scores?
• What is the company's cash runway given free cash flow of -$7.2M in FY 2025 and cash of $13.6M?