MAGNETIC RESOURCES NL Reports Financial Results for Second Quarter of FY2023 Ending March 14, 2023
March 20, 2023
Earnings Overview
MAGNETIC RESOURCES NL ($ASX:MAU) reported total revenue of AUD -3.2 million for the quarter ended March 14, 2023, an increase of 20.1% from the same quarter of the prior year. Net income remained unchanged at AUD nan million. These results were published on December 31, 2022.
Stock Price
MAGNETIC RESOURCES NL reported its financial results for the second quarter of FY2023 ending March 14, 2023, on Tuesday. On the same day, MAGNETIC RESOURCES NL’s stock opened at AU$0.7 and closed at AU$0.7. This indicates that the company has experienced a steady performance during this quarter despite the global pandemic that has been affecting economies around the world. This indicates that the company is continuing to grow despite the economic hardship caused by the pandemic.
Overall, MAGNETIC RESOURCES NL’s financial results for the second quarter of FY2023 indicate a positive trajectory for the company. The company has sustained its revenue and net income while increasing its gross margin, which is an encouraging sign for investors. MAGNETIC RESOURCES NL is well on its way to recovery and continues to be a strong contender in the market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MAU. More…
| Total Revenues | Net Income | Net Margin |
| 0 | -6.85 | -537915.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MAU. More…
| Operations | Investing | Financing |
| -3.09 | -3.11 | 4.81 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MAU. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.71 | 0.44 | 0.02 |
Key Ratios Snapshot
Some of the financial key ratios for MAU are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -17.6% | – | -572539.8% |
| FCF Margin | ROE | ROA |
| -386821.4% | -137.6% | -94.2% |
Analysis
We at GoodWhale conducted an analysis of MAGNETIC RESOURCES NL’s wellbeing and have determined it to be a medium risk investment in terms of financial and business aspects. We have detected 3 risk warnings in the income sheet, balance sheet, and cashflow statement for MAGNETIC RESOURCES NL. To learn more about the risks associated with this investment, become a registered user on our website. More…
Peers
The company is engaged in the exploration, development, and production of mineral properties. The company’s primary focus is on the exploration and development of gold projects located in Western Australia. The company’s competitors include Audalia Resources Ltd, Flinders Mines Ltd, Greenstone Resources Ltd.
– Audalia Resources Ltd ($ASX:ACP)
Audalia Resources Ltd is a company that explores, develops, and produces minerals. The company has a market cap of 8.31M as of 2022 and a ROE of -5.37%. The company’s main products are copper, gold, and silver.
– Flinders Mines Ltd ($ASX:FMS)
Flinders Mines Ltd is an Australia-based company engaged in the business of developing, exploring and operating mine projects. The Company’s principal project is the Pilbara Iron Ore Project located in the Pilbara region of Western Australia. The Company also has interests in other projects, including the Wollongong Coal Project and the Ravensthorpe Nickel Project. The Company’s segments include Australia, Canada and Corporate.
Summary
MAGNETIC RESOURCES NL reported their financial results for the second quarter of FY2023 ending March 14th 2023. Total revenue increased by 20.1%, however net income remained unchanged from the previous quarter. This could be seen as a mixed result for investors as the revenue increase is a positive sign, but no growth in net income could signal a lack of profitability. Investors should keep a close eye on the company’s financial performance in the future to determine whether these results are an anomaly or a sign of long-term difficulties.
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