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Golconda Gold Ltd. engages in the exploration, development, and operation of gold mining properties in Canada, the United States, and South Africa. It operates the Galaxy Property situated in the Repu...
The following section summarizes insights on Golconda Gold Ltd.'s Current Ratio:
We've identified the following companies as similar to Golconda Gold Ltd. because they operate in a related industry or sector. We also considered size, growth, and various financial metrics to narrow down the list to the ones listed below.
To view the full list of supported financial metrics please see Complete Metrics Listing.
Metrics similar to Current Ratio in the risk category include:
A ratio that compares a company's current total assets to its current total liabilities.
Current Ratio measures whether a firm is capitalized with enough assets to pay its debts over the next twelve months by comparing a firm’s current assets to its current liabilities.
Current Ratio is defined as:
Current Ratio = Current Assets / Current Liabilities
Current Ratio for Golconda Gold is calculated as follows:
Current Assets [ 2.951 M ]
(/) Current Liabilities [ 9.425 M ]
(=) Current Ratio [ 0.3x ]
The tables below summarizes the trend in Golconda Gold’s Current Ratio over the last five years:
| Fiscal Year | Current Assets | Current Liabilities | Current Ratio |
|---|---|---|---|
| 2019-12-31 | 9.346 M | 23.664 M | 0.4x |
| 2020-12-31 | 11.56 M | 23.997 M | 0.5x |
| 2021-12-31 | 20.128 M | 23.121 M | 0.9x |
| 2022-12-31 | 2.046 M | 6.895 M | 0.3x |
| 2023-12-31 | 1.21 M | 8.98 M | 0.1x |
The tables below summarizes the trend in Golconda Gold’s current ratio over the last four quarters:
| Quarter Ending | Current Assets | Current Liabilities | Current Ratio |
|---|---|---|---|
| 2023-12-31 | 1.21 M | 8.98 M | 0.1x |
| 2024-03-31 | 5.779 M | 9.716 M | 0.6x |
| 2024-06-30 | 3.136 M | 9.446 M | 0.3x |
| 2024-09-30 | 2.951 M | 9.425 M | 0.3x |
While ratios vary by industry and circumstances, healthy companies generally have ratios between 1.5 and 3.
A high current ratio is not necessarily a good thing. The company may be inefficiently using its current assets or short-term financing facilities.
While a low current ratio (values less than 1) may indicate that a firm is having difficulty meeting current obligations, it may also reflect the organizations ability to borrow against good prospects to meet current obligations. Strong businesses that can turn inventory faster than due dates on their accounts payable may also have a current ratio less than one.
The chart above depicts the distribution of current ratio for companies operating in the Materials sector in the Developed economic region. Over 3,200 companies were considered in this analysis, and 3,078 had meaningful values. The average current ratio of companies in the sector is 4.2x with a standard deviation of 6.8x.
Golconda Gold Ltd.'s Current Ratio of 0.3x ranks in the 16.4% percentile for the sector. The following table provides additional summary stats:
| Economic Risk Region | Developed |
| Total Constituents | 3,206 |
| Included Constituents | 3,078 |
| Min | 0.0x |
| Max | 50.4x |
| Median | 1.9x |
| Mean | 4.2x |
| Standard Deviation | 6.8x |
You can find companies with similar current ratio using this stock screener.