MAUTF (Montage Gold) Beneish M-Score: 0.00 (As of Jun. 24, 2026)


MAUTF Montage Gold Corp MAUTF
23 GF Score
Price $10.18
! 2 Warning Signs
View Full Analysis

What is Montage Gold Beneish M-Score?

Montage Gold MAUTF -6.00% 23 Beneish M-Score is 0.00 as of Jun. 24, 2026. GuruFocus rates MAUTF with a GF Score™ of 23/100. The stock has 2 warning signs investors should review. Among 685 Metals & Mining companies, Montage Gold ranks worse than 145985.26% on this metric.

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 Montage Gold's Beneish M-Score or its related term are showing as below:

During the past 7 years, the highest Beneish M-Score of Montage Gold was 0.00. The lowest was 0.00. And the median was 0.00.

Montage Gold Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Montage Gold'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.

Montage Gold Beneish M-Score Chart

Montage Gold Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

Montage Gold Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score 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

MAUTF vs NEM, AU: Beneish M-Score Comparison

For the Gold subindustry, Montage Gold'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.

Montage Gold Beneish M-Score vs Metals & Mining Industry

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

* The bar in red indicates where Montage Gold's Beneish M-Score falls into.


MAUTF
23GF Score
Montage Gold Corp MAUTF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Montage Gold 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 Montage Gold for today is based on a combination of the following eight different indices:

M=-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 *
=

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $88.50 Mil.
Total Assets was $737.83 Mil.
Property, Plant and Equipment(Net PPE) was $595.37 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.85 Mil.
Selling, General, & Admin. Expense(SGA) was $19.65 Mil.
Total Current Liabilities was $33.52 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -8.149 + -6.04 + -4.551 + -14.349 = $-33.09 Mil.
Non Operating Income was -0.297 + 3.135 + 2.013 + -6.028 = $-1.18 Mil.
Cash Flow from Operations was -0.194 + -11.108 + -5.529 + -4.99 = $-21.82 Mil.
 Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $44.12 Mil.
Total Assets was $231.30 Mil.
Property, Plant and Equipment(Net PPE) was $133.87 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.35 Mil.
Selling, General, & Admin. Expense(SGA) was $20.25 Mil.
Total Current Liabilities was $24.10 Mil.
Long-Term Debt & Capital Lease Obligation was $0.24 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)
=(0 / 0) / (0 / 0)
= /
=

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)
=(0 / 0) / (0 / 0)
= /
=

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 - (88.502 + 595.369) / 737.825) / (1 - (44.122 + 133.872) / 231.301)
=0.073126 / 0.230466
=

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 / 0
=

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))
=(0.349 / (0.349 + 133.872)) / (0.851 / (0.851 + 595.369))
=0.0026 / 0.001427
=

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)
=(19.648 / 0) / (20.249 / 0)
= /
=

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)
=((0 + 33.52) / 737.825) / ((0.235 + 24.101) / 231.301)
=0.045431 / 0.105214
=

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
=(-33.089 - -1.177 - -21.821) / 737.825
=-0.013677

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Montage Gold (MAUTF) has a Beneish M-Score of 0.00 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Montage Gold and its competitors. According to the industry distribution chart, Montage Gold ranks #999999 out of 685 companies in the Metals & Mining industry.
Is Montage Gold's Beneish M-Score too high?
Montage Gold's current Beneish M-Score is 0.00. Based on the distribution chart, Montage Gold ranks #999999 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Montage Gold has a GF Score™ of 23/100, reflecting its overall financial health beyond just this single metric.
How does Montage Gold's Beneish M-Score compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Montage Gold ranks #999999 out of 685 companies for Beneish M-Score. This places Montage Gold in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining industry context. However, Beneish M-Score 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 Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Montage Gold and its competitors. Montage Gold's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Montage Gold stock overvalued right now?
Montage Gold (MAUTF) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Montage Gold's overall GF Score™ is 23/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Montage Gold (MAUTF), the current Beneish M-Score is 0.00 as of Jun. 24, 2026. 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.

Montage Gold Business Description

Other Exchanges MAU:Canada
Address 1055 Dunsmuir Street, Suite 2800 Four Bentall Centre, Vancouver, BC, CAN, V7X 1L2
Montage Gold Corp is a mineral exploration and development company. It is engaged in the acquisition, exploration, and development of mineral properties in Africa. The company's mineral properties are located in Cote d'Ivoire where it owns four permits and nine permit applications. Its projects include the Kone Gold Project, Morondo Gold Project and Others.
23GF Score

Get the complete analysis for MAUTF

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$10.18
Price