Prime Mining (TSX:PRYM) Effective Interest Rate on Debt % : 9.88% (As of Mar. 2024)

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What is Prime Mining Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Prime Mining's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was C$0.01 Mil. Prime Mining's average total debt for the quarter that ended in Mar. 2024 was C$0.12 Mil. Therefore, Prime Mining's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 9.88%.

Prime Mining Effective Interest Rate on Debt % Historical Data

The historical data trend for Prime Mining's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Prime Mining Effective Interest Rate on Debt % Chart

Prime Mining Annual Data

Trend

Apr14

Apr15

Apr16

Apr17

Apr18

Apr19

Apr20

Apr21

Dec22

Dec23

Effective Interest Rate on Debt %

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0.73

81.48

3.40

17.70

10.42

Prime Mining Quarterly Data
	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Mar22	Jun22	Sep22	Dec22	Mar23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															9.58	10.16	11.07	9.16	9.88

Competitive Comparison of Prime Mining's Effective Interest Rate on Debt %

For the Other Industrial Metals & Mining subindustry, Prime Mining's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Prime Mining's Effective Interest Rate on Debt % Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Prime Mining's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Prime Mining's Effective Interest Rate on Debt % falls into.

Prime Mining Effective Interest Rate on Debt % Calculation

Prime Mining's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -0.015	/	( (0.162	+	0.126)	/ 2 )
=	-1 * -0.015	/	0.144
=	10.42 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.126	+	0.036
=	0.162

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.086	+	0.04
=	0.126

Prime Mining's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -0.012	/	( (0.126	+	0.117)	/ 2 )
=	-1 * -0.012	/	0.1215
=	9.88 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.086	+	0.04
=	0.126

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.076	+	0.041
=	0.117

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Prime Mining (TSX:PRYM) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Prime Mining Effective Interest Rate on Debt % Related Terms

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Prime Mining (TSX:PRYM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Prime Mining Corp (TSX:PRYM) » Definitions » Effective Interest Rate on Debt %

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Traded in Other Exchanges

PRMNF:USA O4V3:Germany

Address

1030 West Georgia Street, Suite 1507, Vancouver, BC, CAN, V6E 2Y3

Website

https://www.primeminingcorp.ca

Prime Mining Corp is engaged in the acquisition, exploration, and development of mineral resource properties, primarily targeting high-value and specialty metals. The company's projects include Los Reyes; Magenta and others. The Company has one operating segment, which is the acquisition and exploration of mineral properties.

Executives

Kerry Elwyn Sparkes

Director

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