Magna Terra Minerals (OTCPK:BRIOF) Quick Ratio

: 0.53 (As of Nov. 2022)

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The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. Magna Terra Minerals's quick ratio for the quarter that ended in Nov. 2022 was 0.53.

Magna Terra Minerals has a quick ratio of 0.53. It indicates that the company cannot currently fully pay back its current liabilities.

The historical rank and industry rank for Magna Terra Minerals's Quick Ratio or its related term are showing as below:

BRIOF' s Quick Ratio Range Over the Past 10 Years
Min: 0.01 Med: 1.22 Max: 111.87
Current: 0.53

During the past 13 years, Magna Terra Minerals's highest Quick Ratio was 111.87. The lowest was 0.01. And the median was 1.22.

BRIOF's Quick Ratio is ranked worse than
80.74% of 2617 companies
in the Metals & Mining industry
Industry Median: 2.31 vs BRIOF: 0.53

Magna Terra Minerals Quick Ratio Historical Data

The historical data trend for Magna Terra Minerals's Quick Ratio 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.

Magna Terra Minerals Annual Data

Trend

Aug13

Aug14

Aug15

Aug16

Aug17

Aug18

Aug19

Aug20

Aug21

Aug22

Quick Ratio

0.05

0.04

2.11

0.59

1.06

Magna Terra Minerals Quarterly Data
	Feb18	May18	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22
Quick Ratio																1.89	0.95	0.66	1.06	0.53

Competitive Comparison

For the Other Industrial Metals & Mining subindustry, Magna Terra Minerals's Quick Ratio, along with its competitors' market caps and Quick Ratio 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.

Annual Data Quarterly Data

Magna Terra Minerals Quick Ratio Distribution

For the Metals & Mining industry and Basic Materials sector, Magna Terra Minerals's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Magna Terra Minerals's Quick Ratio falls in comparison to its industry or sector. The grey bar indicates the Quick Ratio's extreme value range as defined by GuruFocus.

Magna Terra Minerals Quick Ratio Calculation

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.

Magna Terra Minerals's Quick Ratio for the fiscal year that ended in Aug. 2022 is calculated as

Quick Ratio (A: Aug. 2022 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(0.54114732523032	-	0)	/	0.50940620887203
	=	1.06

Magna Terra Minerals's Quick Ratio for the quarter that ended in Nov. 2022 is calculated as

Quick Ratio (Q: Nov. 2022 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(0.23110648733001	-	0)	/	0.43471799063684
	=	0.53

Magna Terra Minerals (OTCPK:BRIOF) Quick Ratio Explanation

The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.

In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.

The higher the quick ratio, the better the company's liquidity position.

Magna Terra Minerals Quick Ratio Related Terms

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Magna Terra Minerals (OTCPK:BRIOF) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Magna Terra Minerals Inc (OTCPK:BRIOF) » Definitions » Quick Ratio

Comparable Companies

Traded in Other Exchanges

MTT:Canada

Address

20 Adelaide Street East, Suite 915, Toronto, ON, CAN, M5C 2T6

Website

http://www.magnaterraminerals.com

Magna Terra Minerals Inc is a Canada-based mineral exploration company. Principally, it is engaged in the business of acquisition and exploration of mining properties in Argentina and Canada. Its project includes Atlantic Canada; Santa Cruz and Quebec projects.