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GGAZF (Goldgroup Mining) Inventory Turnover : 1.34 (As of Sep. 2024)


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What is Goldgroup Mining Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Goldgroup Mining's Cost of Goods Sold for the three months ended in Sep. 2024 was $3.73 Mil. Goldgroup Mining's Average Total Inventories for the quarter that ended in Sep. 2024 was $2.78 Mil. Goldgroup Mining's Inventory Turnover for the quarter that ended in Sep. 2024 was 1.34.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Goldgroup Mining's Days Inventory for the three months ended in Sep. 2024 was 68.05.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Goldgroup Mining's Inventory-to-Revenue for the quarter that ended in Sep. 2024 was 0.75.


Goldgroup Mining Inventory Turnover Historical Data

The historical data trend for Goldgroup Mining's Inventory Turnover 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.

* Premium members only.

Goldgroup Mining Inventory Turnover Chart

Goldgroup Mining Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Inventory Turnover
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.32 6.96 8.54 1.35 4.43

Goldgroup Mining Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Jun24 Sep24
Inventory Turnover 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 0.65 2.80 1.61 1.84 1.34

Goldgroup Mining Inventory Turnover Calculation

Goldgroup Mining's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

Inventory Turnover (A: Dec. 2023 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (A: Dec. 2023 ) / ((Total Inventories (A: Dec. 2022 ) + Total Inventories (A: Dec. 2023 )) / count )
=8.353 / ((0.765 + 3.004) / 2 )
=8.353 / 1.8845
=4.43

Goldgroup Mining's Inventory Turnover for the quarter that ended in Sep. 2024 is calculated as

Inventory Turnover (Q: Sep. 2024 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (Q: Sep. 2024 ) / ((Total Inventories (Q: Jun. 2024 ) + Total Inventories (Q: Sep. 2024 )) / count )
=3.726 / ((3.168 + 2.389) / 2 )
=3.726 / 2.7785
=1.34

* 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.


Goldgroup Mining  (OTCPK:GGAZF) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Goldgroup Mining's Days Inventory for the three months ended in Sep. 2024 is calculated as:

Days Inventory =Average Total Inventories (Q: Sep. 2024 )/Cost of Goods Sold (Q: Sep. 2024 )*Days in Period
=2.7785/3.726*365 / 4
=68.05

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Goldgroup Mining's Inventory to Revenue for the quarter that ended in Sep. 2024 is calculated as

Inventory-to-Revenue=Average Total Inventories (Q: Sep. 2024 ) / Revenue (Q: Sep. 2024 )
=2.7785 / 3.695
=0.75

* 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.


Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.


Goldgroup Mining Inventory Turnover Related Terms

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Goldgroup Mining Business Description

Traded in Other Exchanges
Address
1166 Alberni Street, Suite 1201, Vancouver, BC, CAN, V6E 3Z3
Goldgroup Mining Inc is a Canadian-based gold production, development, and exploration company with an upside in a portfolio of projects in Mexico, including an interest in DynaResource de Mexico, S.A. de C.V., which owns 100 percent of the high-grade gold exploration project, San Jose de Gracia, located in the State of Sinaloa. In addition, the company operates its 100%-owned Cerro Prieto heap-leach gold mine, in the State of Sonora, Mexico.

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