Hycroft Mining Holding (Hycroft Mining Holding) Beneish M-Score : 0.00 (As of May. 01, 2024)

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What is Hycroft Mining Holding Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Hycroft Mining Holding's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Hycroft Mining Holding was 4.42. The lowest was -1.97. And the median was 1.23.

Hycroft Mining Holding Beneish M-Score Historical Data

The historical data trend for Hycroft Mining Holding's Beneish M-Score 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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Hycroft Mining Holding Beneish M-Score Chart

Hycroft Mining Holding Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-1.97

4.42

Hycroft Mining Holding Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial														4.42	-0.09	-0.45	-2.23	-

Competitive Comparison of Hycroft Mining Holding's Beneish M-Score

For the Gold subindustry, Hycroft Mining Holding's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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.

Hycroft Mining Holding's Beneish M-Score Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Hycroft Mining Holding's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Hycroft Mining Holding's Beneish M-Score falls into.

Hycroft Mining Holding Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Hycroft Mining Holding for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $2.20 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was -2.814 + 0 + 0 + 0 = $-2.81 Mil.
Total Current Assets was $113.57 Mil.
Total Assets was $201.69 Mil.
Property, Plant and Equipment(Net PPE) was $53.09 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.81 Mil.
Selling, General, & Admin. Expense(SGA) was $12.67 Mil.
Total Current Liabilities was $11.75 Mil.
Long-Term Debt & Capital Lease Obligation was $142.63 Mil.
Net Income was -11.514 + -15.712 + -13.889 + -13.909 = $-55.02 Mil.
Non Operating Income was -0.499 + 0.457 + 1.295 + 0.122 = $1.38 Mil.
Cash Flow from Operations was -9.517 + -9.497 + -13.616 + -8.818 = $-41.45 Mil.

Total Receivables was $4.76 Mil.
Revenue was 11.474 + 8.758 + 3.831 + 9.166 = $33.23 Mil.
Gross Profit was -7.089 + -2.479 + -2.986 + -7.806 = $-20.36 Mil.
Total Current Assets was $152.39 Mil.
Total Assets was $248.95 Mil.
Property, Plant and Equipment(Net PPE) was $54.83 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.36 Mil.
Selling, General, & Admin. Expense(SGA) was $14.37 Mil.
Total Current Liabilities was $12.03 Mil.
Long-Term Debt & Capital Lease Obligation was $132.69 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(2.197 / 0)	/	(4.76 / 33.229)
	=		/	0.143248
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(-20.36 / 33.229)	/	(-2.814 / 0)
	=	-0.612718	/
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (113.567 + 53.091) / 201.693)	/	(1 - (152.392 + 54.832) / 248.954)
	=	0.173705	/	0.167621
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	0	/	33.229
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(3.356 / (3.356 + 54.832))	/	(2.814 / (2.814 + 53.091))
	=	0.057675	/	0.050335
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(12.673 / 0)	/	(14.367 / 33.229)
	=		/	0.432363
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((142.625 + 11.746) / 201.693)	/	((132.69 + 12.033) / 248.954)
	=	0.765376	/	0.581324
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-55.024 - 1.375	-	-41.448)	/	201.693
	=	-0.074128

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Hycroft Mining Holding Beneish M-Score Related Terms

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Hycroft Mining Holding (Hycroft Mining Holding) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Hycroft Mining Holding Corp (NAS:HYMC) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

4300 Water Canyon Road, Unit 1, Winnemucca, NV, USA, 89445

Website

http://www.hycroftmining.com

Hycroft Mining Holding Corp is a gold and silver producer. Its operating mine, the Hycroft Mine, is an open-pit heap leach operation located approximately fifty four miles west of Winnemucca, Nevada.

Executives

Diane R Garrett	director, officer: President, CEO & Director	C/O NOVAGOLD RESOURCES INC., 201 SOUTH MAIN, SUITE 400, SALT LAKE CITY UT 84111
Stanton K Rideout	officer: Executive Vice President & CFO	C/O HYCROFT MINING HOLDING CORPORATION, 8181 E. TUFTS AVE. SUITE 510, DENVER CO 80237
Rebecca Jennings	officer: Senior Vice President	4300 WATER CANYON ROAD, UNIT 1, WINNEMUCCA NV 89445
Mudrick Capital Management, L.p.	director, 10 percent owner	527 MADISON AVENUE, 6TH FLOOR, NEW YORK NY 10022
Stephen A Lang	director	1 UNIVERSITY AVENUE, SUITE 1500, TORONTO A6 M5J 2P1
Eric Sprott	10 percent owner	2700-200 BAY STREET, ROYAL BANK PLAZA SOUTH TOWER, TORONTO A6 M5J 2J1
David C Naccarati	director	ONE NORTH CENTRAL AVENUE, CORPORATE SECRETARY DEPARTMENT, PHOENIX AZ 85004
Sean D. Goodman	director	11500 ASH STREET, LEAWOOD KS 66211
2176423 Ontario Ltd.	10 percent owner	200 BAY STREET, SUITE 2600, ROYAL BANK PLAZA, SOUTH TOWER, TORONTO A6 M5J 2J1
American Multi-cinema, Inc.	10 percent owner	ONE AMC WAY, 11500 ASH STREET, LEAWOOD KS 66211
Amc Entertainment Holdings, Inc.	10 percent owner	ONE AMC WAY, 11500 ASH STREET, LEAWOOD KS 66211
Whitebox Advisors Llc	10 percent owner	3033 EXCELSIOR BLVD., SUITE 500, MINNEAPOLIS MN 55416
Whitebox General Partner Llc	10 percent owner	3033 EXCELSIOR BLVD., SUITE 300, MINNEAPOLIS MN 55416
Highbridge Capital Management Llc	10 percent owner	277 PARK AVE, 23RD FLOOR, NEW YORK NY 10172
Jeffrey Stieber	officer: Chief Financial Officer	8181 E. TUFTS AVE., SUITE510, DENVER CO 80237