South Atlantic Gold (TSXV:SAO) Beneish M-Score : 0.00 (As of Dec. 11, 2024)

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

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

South Atlantic Gold Beneish M-Score Historical Data

The historical data trend for South Atlantic 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.

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South Atlantic Gold Beneish M-Score Chart

South Atlantic Gold Annual Data

Trend

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Feb24

Beneish M-Score

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South Atlantic Gold Quarterly Data
	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24	Aug24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of South Atlantic Gold's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, South Atlantic 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.

South Atlantic Gold's Beneish M-Score Distribution in the Metals & Mining Industry

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

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

South Atlantic 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 South Atlantic Gold 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 (Aug24) TTM:

Last Year (Aug23) TTM:

Total Receivables was C$0.03 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = C$0.00 Mil.
Total Current Assets was C$0.44 Mil.
Total Assets was C$3.71 Mil.
Property, Plant and Equipment(Net PPE) was C$3.26 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.43 Mil.
Total Current Liabilities was C$0.19 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Net Income was -0.055 + -0.076 + -0.603 + -0.157 = C$-0.89 Mil.
Non Operating Income was -0.017 + 0.029 + -0.027 + 0.02 = C$0.01 Mil.
Cash Flow from Operations was -0.24 + -0.128 + -0.391 + -0.137 = C$-0.90 Mil.

Total Receivables was C$0.01 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = C$0.00 Mil.
Total Current Assets was C$0.30 Mil.
Total Assets was C$4.65 Mil.
Property, Plant and Equipment(Net PPE) was C$4.22 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.69 Mil.
Total Current Liabilities was C$0.29 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)
	=	(0.029 / 0)	/	(0.012 / 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 - (0.435 + 3.255) / 3.705)	/	(1 - (0.303 + 4.218) / 4.65)
	=	0.004049	/	0.027742
	=

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 / (0 + 4.218))	/	(0 / (0 + 3.255))
	=	0	/	0
	=

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)
	=	(0.428 / 0)	/	(0.691 / 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 + 0.189) / 3.705)	/	((0 + 0.292) / 4.65)
	=	0.051012	/	0.062796
	=

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
	=	(-0.891 - 0.005	-	-0.896)	/	3.705
	=	0

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.

South Atlantic Gold Beneish M-Score Related Terms

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South Atlantic Gold Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » South Atlantic Gold Inc (TSXV:SAO) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

JLRRF:USA

Address

1632 Dickson Avenue, Suite 335, Landmark 3, Kelowna, BC, CAN, V1Y 7T2

Website

https://www.southatlanticgold.com

South Atlantic Gold Inc is primarily engaged in the acquisition, exploration, and development of mineral properties located in Brazil and Canada. The company's current properties include the Pendra Branca Project in Brazil and the Bigg Kidd project currently under the option and located in British Columbia.

Executives

William Richard Brown	Director
Bruce Higson-smith	Director

South Atlantic Gold Headlines

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