Paramount Gold Nevada Corp.
PZG Basic Materials Gold
In the quarter to June 2026, EPS grew 50.0%, free cash flow fell 2.39% and total debt rose 32.1%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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Paramount Gold Nevada Corp. (PZG) Beneish M-score
Paramount Gold Nevada Corp.'s Beneish M-score for fiscal 2020 cannot be worked out: days’ sales in receivables index cannot be worked out.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2017 | −2.58 | (14.82) |
| FY2016 | 12.24 | — |
How fiscal 2020’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | — | — | n/a | — |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.91 | — | 0.37 | |
| Sales growth index | 1.82 | — | 1.62 | |
| Depreciation index | 0.34 | — | 0.04 | |
| SG&A index | 0.51 | — | −0.09 | |
| Total accruals to total assets | (0.02) | — | −0.11 | |
| Leverage index | 5.40 | — | −1.77 | |
| Beneish M-score | n/a — days’ sales in receivables index cannot be worked out | — | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| GAU Galiano Gold Inc. compare | −3.8× |
| USAU US Gold Corp compare | −2.7× |
| CMCL Caledonia Mining Corporation PLC compare | −2.6× |
| TRX TRX Gold Corporation compare | −2.1× |
| IDR Idaho Strategic Resources, Inc. compare | −1.5× |
| NAMM Namib Minerals compare | 4.4× |
| CTGO Contango Silver & Gold Inc. compare | — |
| GLDG GoldMining Inc. compare | — |
| PZG Paramount Gold Nevada Corp. | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI