Foremost Lithium Resource Stock Z Score
| FMST Stock | 2.30 0.14 5.74% |
Foremost | Z Score |
Foremost Lithium Resource Company Z Score Analysis
Foremost Lithium's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
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Foremost Z Score Driver Correlations
Understanding the fundamental principles of building solid financial models for Foremost Lithium is extremely important. It helps to project a fair market value of Foremost Stock properly, considering its historical fundamentals such as Z Score. Since Foremost Lithium's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Foremost Lithium's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Foremost Lithium's interrelated accounts and indicators.
Click cells to compare fundamentals
To calculate a Z-Score, one would need to know a company's current working capital, its total assets and liabilities, and the amount of its latest earnings as well as earnings before interest and tax. Z-Scores can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area,' with scores of less than 1 indicating the highest probability of distress. Z Score is a used widely measure by financial auditors, accountants, money managers, loan processors, wealth advisers, and day traders. In the last 25 years, many financial models that utilize z-scores proved it to be successful as a predictor of corporate bankruptcy.
| Competition |
According to the company's disclosures, Foremost Lithium Resource has a Z Score of 0.0. This is 100.0% lower than that of the Chemicals sector and about the same as Materials (which currently averages 0.0) industry. The z score for all United States stocks is 100.0% higher than that of the company.
Foremost Lithium Current Valuation Drivers
We derive many important indicators used in calculating different scores of Foremost Lithium from analyzing Foremost Lithium's financial statements. These drivers represent accounts that assess Foremost Lithium's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Foremost Lithium's important valuation drivers and their relationship over time.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Market Cap | 20.9M | 21.1M | 24.6M | 31.2M | 28.1M | 29.5M | |
| Enterprise Value | 21.1M | 20.9M | 24.5M | 31.9M | 28.7M | 30.1M |
Foremost Fundamentals
| Return On Equity | -0.22 | ||||
| Return On Asset | -0.14 | ||||
| Current Valuation | 11.56 M | ||||
| Shares Outstanding | 5.46 M | ||||
| Shares Owned By Insiders | 10.85 % | ||||
| Shares Owned By Institutions | 0.07 % | ||||
| Number Of Shares Shorted | 30.42 K | ||||
| Price To Book | 1.53 X | ||||
| EBITDA | (2.54 M) | ||||
| Net Income | 956.58 K | ||||
| Total Debt | 1.29 M | ||||
| Book Value Per Share | 2.68 X | ||||
| Cash Flow From Operations | (2.48 M) | ||||
| Short Ratio | 2.29 X | ||||
| Earnings Per Share | 0.07 X | ||||
| Target Price | 4.49 | ||||
| Beta | 1.73 | ||||
| Market Capitalization | 13.31 M | ||||
| Total Asset | 13.3 M | ||||
| Retained Earnings | (17.87 M) | ||||
| Working Capital | (2.12 M) | ||||
| Net Asset | 13.3 M |
About Foremost Lithium Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Foremost Lithium Resource's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Foremost Lithium using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Foremost Lithium Resource based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Foremost Lithium
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Foremost Lithium position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Foremost Lithium will appreciate offsetting losses from the drop in the long position's value.Moving against Foremost Stock
| 0.46 | AEM | Agnico Eagle Mines | PairCorr |
| 0.42 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
| 0.42 | AGI | Alamos Gold | PairCorr |
The ability to find closely correlated positions to Foremost Lithium could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Foremost Lithium when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Foremost Lithium - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Foremost Lithium Resource to buy it.
The correlation of Foremost Lithium is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Foremost Lithium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Foremost Lithium Resource moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Foremost Lithium can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Foremost Lithium Piotroski F Score and Foremost Lithium Valuation analysis. You can also try the Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Complementary Tools for Foremost Stock analysis
When running Foremost Lithium's price analysis, check to measure Foremost Lithium's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Foremost Lithium is operating at the current time. Most of Foremost Lithium's value examination focuses on studying past and present price action to predict the probability of Foremost Lithium's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Foremost Lithium's price. Additionally, you may evaluate how the addition of Foremost Lithium to your portfolios can decrease your overall portfolio volatility.
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| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |
Is Foremost Lithium's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Foremost Lithium. If investors know Foremost will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Foremost Lithium listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share 0.07 | Return On Assets (0.14) | Return On Equity (0.22) |
The market value of Foremost Lithium Resource is measured differently than its book value, which is the value of Foremost that is recorded on the company's balance sheet. Investors also form their own opinion of Foremost Lithium's value that differs from its market value or its book value, called intrinsic value, which is Foremost Lithium's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Foremost Lithium's market value can be influenced by many factors that don't directly affect Foremost Lithium's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Foremost Lithium's value and its price as these two are different measures arrived at by different means. Investors typically determine if Foremost Lithium is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Foremost Lithium's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.