CMX Gold & Silver (XCNQ:CXC) Beneish M-Score : 0.00 (As of Dec. 15, 2024)

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

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

CMX Gold & Silver Beneish M-Score Historical Data

The historical data trend for CMX Gold & 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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CMX Gold & Silver Beneish M-Score Chart

CMX Gold & Silver Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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CMX Gold & Silver Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of CMX Gold & Silver's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, CMX Gold & 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.

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

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

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

CMX Gold & 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 CMX Gold & 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 (Sep24) TTM:

Last Year (Jun23) TTM:

Total Receivables was C$0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was -0.009 + -0.001 + -0.001 + -0.007 = C$-0.02 Mil.
Total Current Assets was C$0.00 Mil.
Total Assets was C$0.70 Mil.
Property, Plant and Equipment(Net PPE) was C$0.69 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.10 Mil.
Total Current Liabilities was C$0.57 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Net Income was -0.077 + -0.066 + -0.103 + -0.089 = C$-0.34 Mil.
Non Operating Income was 0 + 0 + 0.007 + -0.007 = C$0.00 Mil.
Cash Flow from Operations was -0.011 + -0.008 + -0.128 + -0.018 = C$-0.17 Mil.

Total Receivables was C$0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was -0.014 + -0.001 + -0.04 + -0.092 = C$-0.15 Mil.
Total Current Assets was C$0.01 Mil.
Total Assets was C$0.69 Mil.
Property, Plant and Equipment(Net PPE) was C$0.68 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.23 Mil.
Total Current Liabilities was C$0.22 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 / 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)
	=	(-0.147 / 0)	/	(-0.018 / 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 - (0.001 + 0.694) / 0.695)	/	(1 - (0.011 + 0.68) / 0.691)
	=	0	/	-0
	=

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 + 0.68))	/	(0 / (0 + 0.694))
	=	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)
	=	(0.1 / 0)	/	(0.234 / 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 + 0.573) / 0.695)	/	((0 + 0.224) / 0.691)
	=	0.82446	/	0.324168
	=

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
	=	(-0.335 - 0	-	-0.165)	/	0.695
	=	-0.244604

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.

CMX Gold & Silver Beneish M-Score Related Terms

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CMX Gold & Silver Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » CMX Gold & Silver Corp (XCNQ:CXC) » Definitions » Beneish M-Score

Comparable Companies

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CXXMF:USA

Address

31 Stranraer Place SW, Calgary, AB, CAN, T3H 1H5

Website

https://www.cmxgoldandsilver.com

CMX Gold & Silver Corp is engaged in mineral exploration. The company is a junior mining company with a silver-lead-zinc property in the United States of America. Its geographical segments are Canada and the United States.

Executives

John Anthony Niedermaier	Director
Glen Robert Alston	Senior Officer
Lossie Alston	Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)
John David Clements	Director
Ron Otsig	10% Security Holder
Brinkton Corporation	Deemed Insider - 6 Months before becoming Insider
Jan Millward Alston	Director, Senior Officer

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