Xtra-Gold Resources (TSX:XTG) Beneish M-Score : 0.00 (As of May. 23, 2024)

View and export this data going back to 2010. Start your Free Trial

What is Xtra-Gold Resources 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 Xtra-Gold Resources's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Xtra-Gold Resources was 0.00. The lowest was 0.00. And the median was 0.00.

Xtra-Gold Resources Beneish M-Score Historical Data

The historical data trend for Xtra-Gold Resources'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.

* Premium members only.

Xtra-Gold Resources Beneish M-Score Chart

Xtra-Gold Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

Xtra-Gold Resources Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Xtra-Gold Resources's Beneish M-Score

For the Gold subindustry, Xtra-Gold Resources'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.

Xtra-Gold Resources's Beneish M-Score Distribution in the Metals & Mining Industry

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

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

Xtra-Gold Resources 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 Xtra-Gold Resources 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 (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was C$0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was -0.045 + -0.062 + -0.045 + -0.068 = C$-0.22 Mil.
Total Current Assets was C$15.11 Mil.
Total Assets was C$17.19 Mil.
Property, Plant and Equipment(Net PPE) was C$1.68 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.22 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.69 Mil.
Total Current Liabilities was C$2.50 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Net Income was 0.692 + -2.6 + 0.695 + 0.937 = C$-0.28 Mil.
Non Operating Income was 1.527 + -2.455 + 1.421 + 1.925 = C$2.42 Mil.
Cash Flow from Operations was 1.669 + -1.276 + 1.442 + 0.484 = C$2.32 Mil.

Total Receivables was C$0.10 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was -0.049 + -0.109 + -0.049 + -0.046 = C$-0.25 Mil.
Total Current Assets was C$15.19 Mil.
Total Assets was C$17.47 Mil.
Property, Plant and Equipment(Net PPE) was C$1.88 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.25 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.69 Mil.
Total Current Liabilities was C$2.27 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 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)	/	(0.104 / 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)
	=	(-0.253 / 0)	/	(-0.22 / 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 - (15.106 + 1.684) / 17.192)	/	(1 - (15.189 + 1.875) / 17.469)
	=	0.023383	/	0.023184
	=

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))
	=	(0.253 / (0.253 + 1.875))	/	(0.22 / (0.22 + 1.684))
	=	0.118891	/	0.115546
	=

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)
	=	(0.687 / 0)	/	(0.694 / 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 + 2.501) / 17.192)	/	((0 + 2.265) / 17.469)
	=	0.145475	/	0.129658
	=

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
	=	(-0.276 - 2.418	-	2.319)	/	17.192
	=	-0.291589

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.

Xtra-Gold Resources Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Xtra-Gold Resources's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Xtra-Gold Resources (TSX:XTG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Xtra-Gold Resources Corp (TSX:XTG) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

XTGRF:USA

Address

Shirley Street Plaza, Suite 2150, P.O Box AP 59217, Nassau, BHS

Website

https://www.xtragold.com

Xtra-Gold Resources Corp is a gold exploration company with a substantial land position in the Kibi Gold Belt. The Kibi Gold Belt, which exhibits many similar geological features to Ghana's main gold belt, the Ashanti Belt, has been the subject of very limited modern exploration activity targeting lode gold deposits as virtually all past gold mining activity and exploration efforts focused on the extensive alluvial gold occurrences in many river valleys throughout the Kibi area. Its mining portfolio consists of 225.87 sq km comprised of 33.65 sq km for the Kibi project, 51.67 sq km for Banso project, 55.28 sq km for Muoso project, 44.76 sq km for the Kwabeng project, and 40.51 sq km for the Pameng project, or 55,873 acres, pursuant to the leased areas set forth in mining leases.

Executives

Leon Van Der Merwe

10% Security Holder

Xtra-Gold Resources (TSX:XTG) Headlines

No Headlines