Midnight Sun Mining (TSXV:MMA) ROCE % : -4.57% (As of Dec. 2023)

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What is Midnight Sun Mining ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Midnight Sun Mining's annualized ROCE % for the quarter that ended in Dec. 2023 was -4.57%.

Midnight Sun Mining ROCE % Historical Data

The historical data trend for Midnight Sun Mining's ROCE % 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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Midnight Sun Mining ROCE % Chart

Midnight Sun Mining Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-2.41

-4.93

-14.39

-21.76

-11.34

Midnight Sun Mining Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															-31.50	-29.89	-13.58	-4.82	-4.57

Midnight Sun Mining ROCE % Calculation

Midnight Sun Mining's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	-1.517	/	( ( (13.691 - 0.479)	+	(13.958 - 0.417) )	/ 2 )
	=	-1.517	/	( (13.212	+	13.541)	/ 2 )
	=	-1.517	/	13.3765
	=	-11.34 %

Midnight Sun Mining's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	-0.548	/	( ( (10.573 - 0.146)	+	(13.958 - 0.417) )	/ 2 )
	=	-0.548	/	( ( 10.427	+	13.541 )	/ 2 )
	=	-0.548	/	11.984
	=	-4.57 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Midnight Sun Mining (TSXV:MMA) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Midnight Sun Mining ROCE % Related Terms

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Midnight Sun Mining (TSXV:MMA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Midnight Sun Mining Corp (TSXV:MMA) » Definitions » ROCE %

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MDNGF:USA

Address

789 West Pender Street, Suite 770, Vancouver, BC, CAN, V6C 1H2

Website

https://www.midnightsunmining.com

Midnight Sun Mining Corp is an exploration-stage company. The company is engaged in the acquisition and exploration of mineral property interests. It focuses on the exploration and discovery of copper deposits in the prolific Zambian-Congo Copperbelt. The company's mineral exploration in Zambia is located directly adjacent to the largest copper mine in Africa - First Quantum Minerals' Kansanshi copper/gold mine. It has one reportable operating segment, which is the acquisition and exploration of mineral properties.

Executives

Allan John Fabbro

10% Security Holder, Director, Senior Officer

Midnight Sun Mining (TSXV:MMA) Headlines

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