MGXMF (MGX Minerals) Interest Coverage: 0 (At Loss) (As of Apr. 2021)


What is MGX Minerals Interest Coverage?

MGX Minerals MGXMF -95.00% Interest Coverage is 0 (At Loss) as of Apr. 2021.

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 by its Interest Expense. MGX Minerals's Operating Income for the three months ended in Apr. 2021 was $-0.29 Mil. MGX Minerals's Interest Expense for the three months ended in Apr. 2021 was $-0.00 Mil. did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for MGX Minerals's Interest Coverage or its related term are showing as below:


MGXMF's Interest Coverage is not ranked *
in the Metals & Mining industry.
Industry Median: No Debt
* Ranked among companies with meaningful Interest Coverage only.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

MGX Minerals  (OTCPK:MGXMF) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .

MGX Minerals Interest Coverage Related Terms

MGX Minerals Interest Coverage Historical Data

* Premium members only.

The historical data trend for MGX Minerals's Interest Coverage 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.

Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No 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.

MGX Minerals Interest Coverage Chart

MGX Minerals Annual Data
Trend Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 Jul20
Interest Coverage
Get a 7-Day Free Trial Premium Member Only 0.00 0.00 0.00 0.00 0.00

MGX Minerals Quarterly Data
Jul16 Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21
Interest Coverage 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 0.00 0.00 0.00 0.00 0.00

MGX Minerals Interest Coverage Competitor Comparison

For the Other Industrial Metals & Mining subindustry, MGX Minerals's Interest Coverage, along with its competitors' market caps and Interest Coverage 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 Interest Coverage vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, MGX Minerals's Interest Coverage distribution charts can be found below:

* The bar in red indicates where MGX Minerals's Interest Coverage falls into.


MGX Minerals Interest Coverage Calculation

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:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage=-1* Operating Income /Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt (1).


Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

MGX Minerals's Interest Coverage for the fiscal year that ended in Jul. 2020 is calculated as

Here, for the fiscal year that ended in Jul. 2020, MGX Minerals's Interest Expense was $-0.14 Mil. Its Operating Income was $-2.81 Mil. And its Long-Term Debt & Capital Lease Obligation was $2.23 Mil.

MGX Minerals did not have earnings to cover the interest expense.

MGX Minerals's Interest Coverage for the quarter that ended in Apr. 2021 is calculated as

Here, for the three months ended in Apr. 2021, MGX Minerals's Interest Expense was $-0.00 Mil. Its Operating Income was $-0.29 Mil. And its Long-Term Debt & Capital Lease Obligation was $2.16 Mil.

MGX Minerals did not have earnings to cover the interest expense.

* 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.

The higher the ratio, the stronger the company's Financial Strength is.

Frequently Asked Questions Learn more about Interest Coverage →
What does a Interest Coverage of 0 (At Loss) mean?
MGX Minerals (MGXMF) has a Interest Coverage of 0 (At Loss) as of Apr. 2021. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on MGX Minerals and its competitors.
Is MGX Minerals' Interest Coverage too high?
MGX Minerals' current Interest Coverage is 0 (At Loss).
How does MGX Minerals' Interest Coverage compare to competitors?
MGX Minerals' Interest Coverage of 0 (At Loss) can be compared against companies in the Metals & Mining industry. The industry median Interest Coverage is 10,000.00. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Interest Coverage for a Metals & Mining company?
The median Interest Coverage among Metals & Mining companies is 10,000.00, based on 1,317 companies in the industry. Companies in the top quartile (top 25%) have a Interest Coverage significantly above this median, while those in the bottom quartile fall well below. However, Interest Coverage 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 Interest Coverage mean?
A high Interest Coverage can signal that a stock is expensive relative to its fundamentals. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on MGX Minerals and its competitors. For the Metals & Mining industry, the median Interest Coverage is 10,000.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MGX Minerals's current Interest Coverage is 0 (At Loss). 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 Interest Coverage of 0 (At Loss). The current Interest Coverage is 0 (At Loss). Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Interest Coverage calculated?
Interest Coverage is calculated from a company's financial statements. For MGX Minerals (MGXMF), the current Interest Coverage is 0 (At Loss) 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.