Xtra-Gold Resources has a quick ratio of 5.79. It generally indicates good short-term financial strength.
The historical rank and industry rank for Xtra-Gold Resources's Quick Ratio or its related term are showing as below:
TSX:XTG'
s Quick Ratio Range Over the Past 10 Years
Min: 1.9 Med: 5.97 Max: 22
Current: 5.79
During the past 13 years, Xtra-Gold Resources's highest Quick Ratio was 22.00. The lowest was 1.90. And the median was 5.97.
TSX:XTG's Quick Ratio is ranked better than 75.29% of 2683
companies
in the Metals & Mining industry
Industry Median: 1.69
vs TSX:XTG: 5.79
Xtra-Gold Resources Quick Ratio Historical Data
The historical data trend for Xtra-Gold Resources's Quick Ratio 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.
Competitive Comparison of Xtra-Gold Resources's Quick Ratio
For the Gold subindustry, Xtra-Gold Resources's Quick Ratio, along with its competitors' market caps and Quick Ratio 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.
Xtra-Gold Resources's Quick Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Xtra-Gold Resources's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Xtra-Gold Resources's Quick Ratio falls into.
Xtra-Gold Resources Quick Ratio Calculation
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
Xtra-Gold Resources's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as
* 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.
Xtra-Gold Resources (TSX:XTG) Quick Ratio Explanation
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
Xtra-Gold Resources Quick Ratio Related Terms
Thank you for viewing the detailed overview of Xtra-Gold Resources's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Xtra-Gold Resources (TSX:XTG) Business Description
Xtra-Gold Resources Corp is a gold exploration company with a substantial land position in the Kibi Gold Belt. The Kibi Gold Belt, which exhibits many similar geological features to Ghana's main gold belt, the Ashanti Belt, has been the subject of very limited modern exploration activity targeting lode gold deposits as virtually all past gold mining activity and exploration efforts focused on the extensive alluvial gold occurrences in many river valleys throughout the Kibi area. Its mining portfolio consists of 225.87 sq km comprised of 33.65 sq km for the Kibi project, 51.67 sq km for Banso project, 55.28 sq km for Muoso project, 44.76 sq km for the Kwabeng project, and 40.51 sq km for the Pameng project, or 55,873 acres, pursuant to the leased areas set forth in mining leases.
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