Fortune Minerals (TSX:FT) Effective Interest Rate on Debt % : 13.27% (As of Dec. 2023)

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What is Fortune Minerals Effective Interest Rate on Debt %?

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. Fortune Minerals's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was C$1.24 Mil. Fortune Minerals's average total debt for the quarter that ended in Dec. 2023 was C$9.37 Mil. Therefore, Fortune Minerals's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 13.27%.

Fortune Minerals Effective Interest Rate on Debt % Historical Data

The historical data trend for Fortune 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.

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Fortune Minerals Effective Interest Rate on Debt % Chart

Fortune Minerals Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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14.75

14.13

13.38

19.70

14.57

Fortune Minerals Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															21.17	15.22	15.01	14.79	13.27

Competitive Comparison of Fortune Minerals's Effective Interest Rate on Debt %

For the Other Industrial Metals & Mining subindustry, Fortune 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.

Fortune Minerals's Effective Interest Rate on Debt % Distribution in the Metals & Mining Industry

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

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

Fortune Minerals Effective Interest Rate on Debt % Calculation

Fortune Minerals's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -1.297	/	( (8.309	+	9.497)	/ 2 )
=	-1 * -1.297	/	8.903
=	14.57 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.283	+	8.026
=	8.309

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.169	+	9.328
=	9.497

Fortune Minerals's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Sep. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -1.244	/	( (9.245	+	9.497)	/ 2 )
=	-1 * -1.244	/	9.371
=	13.27 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.243	+	9.002
=	9.245

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.169	+	9.328
=	9.497

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 (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Fortune Minerals (TSX:FT) Effective Interest Rate on Debt % Explanation

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

Fortune Minerals Effective Interest Rate on Debt % Related Terms

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Fortune Minerals (TSX:FT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Fortune Minerals Ltd (TSX:FT) » Definitions » Effective Interest Rate on Debt %

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FTMDF:USA

Address

617 Wellington Street, London, ON, CAN, N6A 3R6

Website

https://www.fortuneminerals.com

Fortune Minerals Ltd is a Canadian mining and mine development company focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories. The company plans to build a hydrometallurgical plant in southern Canada to process NICO metal concentrates. It also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life.