The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. Minaurum Gold's quick ratio for the quarter that ended in Oct. 2023 was 4.30.
Minaurum Gold has a quick ratio of 4.30. It generally indicates good short-term financial strength.
The historical rank and industry rank for Minaurum Gold's Quick Ratio or its related term are showing as below:
TSXV:MGG'
s Quick Ratio Range Over the Past 10 Years
Min: 3.2 Med: 16.76 Max: 102.76
Current: 4.3
During the past 13 years, Minaurum Gold's highest Quick Ratio was 102.76. The lowest was 3.20. And the median was 16.76.
TSXV:MGG's Quick Ratio is ranked better than 68.34% of 2672
companies
in the Metals & Mining industry
Industry Median: 1.805
vs TSXV:MGG: 4.30
Minaurum Gold Quick Ratio Historical Data
The historical data trend for Minaurum Gold'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 Minaurum Gold's Quick Ratio
For the Gold subindustry, Minaurum Gold'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.
Minaurum Gold's Quick Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Minaurum Gold's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Minaurum Gold's Quick Ratio falls into.
Minaurum Gold 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.
Minaurum Gold's Quick Ratio for the fiscal year that ended in Apr. 2022 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.
Minaurum Gold (TSXV:MGG) 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.
Minaurum Gold Quick Ratio Related Terms
Thank you for viewing the detailed overview of Minaurum Gold's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Minaurum Gold Inc is a regional explorer focusing on the exploration and development of high-grade gold and silver projects in the Southern Sonora State, Oaxaca-Chiapas region and Guerrero Gold Belt. It holds interest in Taviche Project, Alamos (Quintera) Project, Santa Marta Project, Vuelcos del Destino Property, Adelita Property, and Aurena Property. The Company operates in one segment the acquisition and exploration of exploration and evaluation assets. It operates in Mexico and the United States.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSXV:MGG has been successfully added to your 