What is Xtra-Gold Resources Financial Strength?
Xtra-Gold Resources has the Financial Strength Rank of 9. It shows strong financial strength and is unlikely to fall into distressed situations.
Good Sign:
Xtra-Gold Resources Corp shows strong financial strength.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
Xtra-Gold Resources has no long-term debt (1).
As of today, Xtra-Gold Resources's Altman Z-Score is 0.00.
(1) Note: An indication of "no long-term debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
Competitive Comparison of Xtra-Gold Resources's Financial Strength
For the Gold subindustry, Xtra-Gold Resources's Financial Strength, along with its competitors' market caps and Financial Strength 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 Financial Strength Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Xtra-Gold Resources's Financial Strength distribution charts can be found below:
* The bar in red indicates where Xtra-Gold Resources's Financial Strength falls into.
Xtra-Gold Resources Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
Xtra-Gold Resources's Interest Expense for the
months ended in Dec. 2023 was C$0.00 Mil. Its Operating Income for the
months ended in Dec. 2023 was C$-0.43 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was C$0.00 Mil.
Xtra-Gold Resources's Interest Coverage for the quarter that ended in Dec. 2023 is
| Xtra-Gold Resources had no long-term debt (1). |
The higher the ratio, the stronger the company's financial strength is.
Good Sign:
Xtra-Gold Resources Corp has no debt.
2. Debt to revenue ratio. The lower, the better.
Xtra-Gold Resources's Debt to Revenue Ratio for the quarter that ended in Dec. 2023 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Xtra-Gold Resources has a Z-score of 0.00, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
* 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) Business Description
Traded in Other Exchanges
Address
Shirley Street Plaza, Suite 2150, P.O Box AP 59217, Nassau, BHS
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.
Executives
Xtra-Gold Resources (TSX:XTG) Headlines
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