Gatos Silver (TSX:GATO) Beneish M-Score : 0.00 (As of May. 05, 2024)

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What is Gatos Silver 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 Gatos Silver's Beneish M-Score or its related term are showing as below:

During the past 12 years, the highest Beneish M-Score of Gatos Silver was 0.00. The lowest was 0.00. And the median was 0.00.

Gatos Silver Beneish M-Score Historical Data

The historical data trend for Gatos Silver'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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Gatos Silver Beneish M-Score Chart

Gatos Silver Annual Data

Trend

Dec10

Dec11

Dec12

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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Gatos Silver Quarterly Data
	Dec18	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															-	-	-	-	-

Competitive Comparison of Gatos Silver's Beneish M-Score

For the Other Precious Metals & Mining subindustry, Gatos Silver'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.

Gatos Silver's Beneish M-Score Distribution in the Metals & Mining Industry

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

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

Gatos Silver 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 Gatos Silver 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 C$28.51 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was -0.007 + -0.004 + -0.045 + -0.051 = C$-0.11 Mil.
Total Current Assets was C$105.57 Mil.
Total Assets was C$537.85 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.11 Mil.
Selling, General, & Admin. Expense(SGA) was C$34.62 Mil.
Total Current Liabilities was C$44.75 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Net Income was 16.542 + 4.449 + -4.774 + 1.143 = C$17.36 Mil.
Non Operating Income was 24.588 + 14.593 + 3.412 + 8.804 = C$51.40 Mil.
Cash Flow from Operations was -3.334 + -2.26 + -4.998 + -5.614 = C$-16.21 Mil.

Total Receivables was C$21.20 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was -0.065 + -0.059 + -0.056 + -0.056 = C$-0.24 Mil.
Total Current Assets was C$48.43 Mil.
Total Assets was C$520.99 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.24 Mil.
Selling, General, & Admin. Expense(SGA) was C$33.49 Mil.
Total Current Liabilities was C$35.81 Mil.
Long-Term Debt & Capital Lease Obligation was C$11.77 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)
	=	(28.51 / 0)	/	(21.197 / 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)
	=	(-0.236 / 0)	/	(-0.107 / 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 - (105.565 + 0) / 537.853)	/	(1 - (48.428 + 0) / 520.986)
	=	0.803729	/	0.907045
	=

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))
	=	(0.236 / (0.236 + 0))	/	(0.107 / (0.107 + 0))
	=	1	/	1
	=

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)
	=	(34.617 / 0)	/	(33.494 / 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 + 44.752) / 537.853)	/	((11.766 + 35.807) / 520.986)
	=	0.083205	/	0.091313
	=

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
	=	(17.36 - 51.397	-	-16.206)	/	537.853
	=	-0.033152

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.

Gatos Silver Beneish M-Score Related Terms

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Gatos Silver (TSX:GATO) Business Description

Industry

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GATO:USA

Address

925 West Georgia Street, Suite 910, Vancouver, BC, CAN, V6C 3L2

Website

https://www.gatossilver.com

Gatos Silver Inc is a development and exploration company. It is focused on the production of Cerro Los Gatos Mine and the further exploration and development of the Los Gatos District, both located in Chihuahua, Mexico. The Los Gatos District consists of 14 mineralized zones, including three identified silver-lead-zinc deposits: the Cerro Los Gatos Mine, the Esther deposit, and the Amapola deposit. The Company's reportable segments are based on the Company's mineral interests and management structure and include Mexico and Corporate segments. The Mexico segment engages in the exploration, development, and operation of the Company's Mexican mineral interests and includes the Company's investment in its LGJV.