MGXMF (MGX Minerals) Effective Interest Rate on Debt %: 0.07% (As of Apr. 2021)

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What is MGX Minerals Effective Interest Rate on Debt %?

MGX Minerals MGXMF -95.00% Effective Interest Rate on Debt % is 0.07% as of Apr. 2021.

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. MGX Minerals's annualized positive value of Interest Expense for the quarter that ended in Apr. 2021 was $0.00 Mil. MGX Minerals's average total debt for the quarter that ended in Apr. 2021 was $5.39 Mil. Therefore, MGX Minerals's annualized Effective Interest Rate on Debt % for the quarter that ended in Apr. 2021 was 0.07%.

MGX Minerals  (OTCPK:MGXMF) Effective Interest Rate on Debt % Explanation

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

MGX Minerals Effective Interest Rate on Debt % Related Terms

MGX Minerals Effective Interest Rate on Debt % Historical Data

* Premium members only.

The historical data trend for MGX Minerals'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.

MGX Minerals Effective Interest Rate on Debt % Chart

MGX Minerals Annual Data
Trend Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 Jul20
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only 8.70 0.00 1.39 21.49 9.02

MGX Minerals Quarterly Data
Jul16 Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 18.97 4.55 0.15 0.30 0.07

MGX Minerals Effective Interest Rate on Debt % Competitor Comparison

For the Other Industrial Metals & Mining subindustry, MGX Minerals'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.

MGX Minerals Effective Interest Rate on Debt % vs Metals & Mining Industry

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

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


MGX Minerals Effective Interest Rate on Debt % Calculation

MGX Minerals's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Jul. 2020 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Jul. 2019 )+Total Debt  (A: Jul. 2020 ))/ count )
=-1  *  -0.143/( (0.458+2.711)/ 2 )
=-1  *  -0.143/1.5845
=9.02 %

where

Total Debt  (A: Jul. 2019 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=0.021 + 0.437
=0.458

Total Debt  (A: Jul. 2020 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2.231 + 0.48
=2.711

MGX Minerals's annualized Effective Interest Rate on Debt % for the quarter that ended in Apr. 2021 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Jan. 2021 )+Total Debt  (Q: Apr. 2021 ))/ count )
=-1  *  -0.004/( (2.646+8.14)/ 2 )
=-1  *  -0.004/5.393
=0.07 %

where

Total Debt  (Q: Jan. 2021 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2.127 + 0.519
=2.646

Total Debt  (Q: Apr. 2021 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=2.163 + 5.977
=8.14

* 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.

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 (Apr. 2021) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

What does a Effective Interest Rate on Debt % of 0.07% mean?
MGX Minerals (MGXMF) has a Effective Interest Rate on Debt % of 0.07% as of Apr. 2021. Effective interest rate on debt is the rate a company actually pays on its debt. View historical data on MGX Minerals and its competitors.
Is MGX Minerals' Effective Interest Rate on Debt % too high?
MGX Minerals' current Effective Interest Rate on Debt % is 0.07%.
How does MGX Minerals' Effective Interest Rate on Debt % compare to competitors?
MGX Minerals' Effective Interest Rate on Debt % of 0.07% can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Effective Interest Rate on Debt % for a Metals & Mining company?
A good Effective Interest Rate on Debt % depends on the Metals & Mining industry context. However, Effective Interest Rate on Debt % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Effective Interest Rate on Debt % mean?
A high Effective Interest Rate on Debt % can signal that a stock is expensive relative to its fundamentals. Effective interest rate on debt is the rate a company actually pays on its debt. View historical data on MGX Minerals and its competitors. MGX Minerals's current Effective Interest Rate on Debt % is 0.07%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MGX Minerals stock overvalued right now?
MGX Minerals (MGXMF) has a current Effective Interest Rate on Debt % of 0.07%. The current Effective Interest Rate on Debt % is 0.07%. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Effective Interest Rate on Debt % calculated?
Effective Interest Rate on Debt % is calculated from a company's financial statements. For MGX Minerals (MGXMF), the current Effective Interest Rate on Debt % is 0.07% as of Apr. 2021. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

MGX Minerals Business Description

Address 666 Burrard Street, Suite 500, Vancouver, BC, CAN, V6C 3P6
MGX Minerals Inc is an exploration stage company engaged in the process of exploring its mineral properties in Canada. The company is a developer of lithium, magnesium and silicon projects. Its projects comprise Driftwood Creek project; Fran Gold project; Tillicum Gold project; Canada Lithium project; and Silica Projects.