Noble Mineral Exploration Stock Cash And Equivalents
| NOB Stock | CAD 0.07 0.01 7.14% |
Noble Mineral Exploration fundamentals help investors to digest information that contributes to Noble Mineral's financial success or failures. It also enables traders to predict the movement of Noble Stock. The fundamental analysis module provides a way to measure Noble Mineral's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Noble Mineral stock.
Noble |
Noble Mineral Exploration Company Cash And Equivalents Analysis
Noble Mineral's Cash or Cash Equivalents are the most liquid of all assets found on the company's balance sheet. It is used in calculating many of the firm's liquidity ratios and is a good indicator of the overall financial health of a company. Companies with a lot of cash are usually attractive takeover targets. Cash Equivalents are balance sheet items that are typically reported using currency printed on notes.
Current Noble Mineral Cash And Equivalents | 1.05 M |
Most of Noble Mineral's fundamental indicators, such as Cash And Equivalents, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Noble Mineral Exploration is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Cash equivalents represent current assets that are easily convertible to cash such as short term bonds, savings account, money market funds, or certificate of deposits (CDs). One of the important consideration companies make when classifying assets as cash equivalent is that investments they report on their balance sheets under current assets should have almost no risk of change in value over the next few months (usually three months).
| Competition |
In accordance with the recently published financial statements, Noble Mineral Exploration has 1.05 M in Cash And Equivalents. This is 99.79% lower than that of the Metals & Mining sector and 99.95% lower than that of the Materials industry. The cash and equivalents for all Canada stocks is 99.96% higher than that of the company.
Noble Cash And Equivalents Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Noble Mineral's direct or indirect competition against its Cash And Equivalents to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Noble Mineral could also be used in its relative valuation, which is a method of valuing Noble Mineral by comparing valuation metrics of similar companies.Noble Mineral is currently under evaluation in cash and equivalents category among related companies.
Noble Fundamentals
| Return On Equity | 0.003 | |||
| Return On Asset | -0.039 | |||
| Current Valuation | 7.83 M | |||
| Shares Outstanding | 137.55 M | |||
| Shares Owned By Insiders | 4.62 % | |||
| Number Of Shares Shorted | 97.88 K | |||
| Price To Earning | 15.62 X | |||
| Price To Book | 2.02 X | |||
| EBITDA | 202.94 K | |||
| Net Income | (2.24 M) | |||
| Cash And Equivalents | 1.05 M | |||
| Cash Per Share | 0.01 X | |||
| Debt To Equity | 0.43 % | |||
| Current Ratio | 1.78 X | |||
| Book Value Per Share | 0.05 X | |||
| Cash Flow From Operations | (1.17 M) | |||
| Short Ratio | 0.67 X | |||
| Earnings Per Share | 0.04 X | |||
| Beta | 2.89 | |||
| Market Capitalization | 9.63 M | |||
| Total Asset | 9.74 M | |||
| Retained Earnings | (19.49 M) | |||
| Working Capital | 4.45 M | |||
| Net Asset | 9.74 M |
About Noble Mineral Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Noble Mineral Exploration's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Noble Mineral using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Noble Mineral Exploration 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 Noble Mineral
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 Noble Mineral 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 Noble Mineral will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Noble Mineral could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Noble Mineral 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 Noble Mineral - 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 Noble Mineral Exploration to buy it.
The correlation of Noble Mineral 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 Noble Mineral moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Noble Mineral Exploration 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 Noble Mineral 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 Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Noble Mineral Exploration. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Complementary Tools for Noble Stock analysis
When running Noble Mineral's price analysis, check to measure Noble Mineral'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 Noble Mineral is operating at the current time. Most of Noble Mineral's value examination focuses on studying past and present price action to predict the probability of Noble Mineral's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Noble Mineral's price. Additionally, you may evaluate how the addition of Noble Mineral to your portfolios can decrease your overall portfolio volatility.
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