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. Perseus Mining's quick ratio for the quarter that ended in Dec. 2023 was 5.53.
Perseus Mining has a quick ratio of 5.53. It generally indicates good short-term financial strength.
The historical rank and industry rank for Perseus Mining's Quick Ratio or its related term are showing as below:
PMNXF'
s Quick Ratio Range Over the Past 10 Years
Min: 0.55 Med: 1.86 Max: 5.53
Current: 5.53
During the past 13 years, Perseus Mining's highest Quick Ratio was 5.53. The lowest was 0.55. And the median was 1.86.
PMNXF's Quick Ratio is ranked better than 73.76% of 2672
companies
in the Metals & Mining industry
Industry Median: 1.805
vs PMNXF: 5.53
Perseus Mining Quick Ratio Historical Data
The historical data trend for Perseus Mining'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.
Competitive Comparison of Perseus Mining's Quick Ratio
For the Gold subindustry, Perseus Mining'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.
Perseus Mining's Quick Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Perseus Mining's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Perseus Mining's Quick Ratio falls into.
Perseus Mining 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.
Perseus Mining's Quick Ratio for the fiscal year that ended in Jun. 2023 is calculated as
* 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.
Perseus Mining (OTCPK:PMNXF) 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.
Perseus Mining Quick Ratio Related Terms
Thank you for viewing the detailed overview of Perseus Mining's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Perseus Mining (Perseus Mining) Business Description
Perseus Mining in an Australian-based gold miner. It sold around 540,000 ounces of gold in fiscal 2023 from its three majority-owned mines in West Africa. Founded in 2004, Perseus purchased all three of its operating mines originally as exploration licenses or development projects. Its 90%-owned Edikan mine in Ghana achieved first gold in 2011, with 86%-owned Sissingue and 90%-owned Yaoure in Ivory Coast following in 2018 and 2020, respectively. The company also purchased its 70%-owned Meyas Sand gold project in Sudan in 2022. Excluding Meyas Sand, where development is on hold due to armed conflict in Sudan, the company had about five years of reserves at the end of fiscal 2023.
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