Is Western Magnesium Corp halal to invest in?

According to Musaffa's Shariah screening methodology, Western Magnesium Corp (WMG.H.V) is currently classified as NOT HALAL as of January 2023. The classification is based on an evaluation of the company's business activities and financial ratios to determine whether it meets Islamic investment guidelines.

Is Western Magnesium Corp a Shariah-compliant stock?

A stock is Shariah-compliant if the company operates in permissible business activities and meets Islamic financial screening thresholds. Musaffa analyzes Western Magnesium Corp using these criteria to determine its compliance status.

Can Muslims buy shares of Western Magnesium Corp?

Muslim investors may consider investing in Western Magnesium Corp if it meets Shariah compliance standards. Investors typically review the company's business activities, debt levels, and non-permissible income before making a decision.

Why is Western Magnesium Corp classified as NOT HALAL?

Musaffa determines the Shariah status of Western Magnesium Corp by analyzing whether the company's core business operations are permissible and whether its financial ratios fall within accepted Islamic thresholds.

How often is the Shariah compliance for Western Magnesium Corp updated?

The Shariah compliance status of Western Magnesium Corp may be updated periodically when new financial statements, earnings reports, or business activity information become available.

Can a halal stock like Western Magnesium Corp become non-compliant?

Yes. A stock that is currently Shariah-compliant may become non-compliant if the company's financial ratios exceed Shariah thresholds or its business activities change.

Where can I check the Shariah status of Western Magnesium Corp?

You can check the latest Shariah compliance status of Western Magnesium Corp on Musaffa's stock page, where screening results and key financial indicators are updated to help Muslim investors make informed decisions.

WMG.H.V Shariah Compliance

Screening Methodology: AAOIFI

NOT HALAL

Last Updated: January 09, 2023

Report Source: 2022 3rd Quarter Report

Western Magnesium Corp. Stock Analysis WMG.H.V

Canada Materials Nano Cap Report: Q3, 2022

Western Magnesium Corp. engages in the production and supply of magnesium metal and alloys. The company is headquartered in Mclean, Virginia. The firm is focused on plant operations and magnesium production. The company uses a continuous silicothermic process to produce magnesium with low labor and energy costs while generating minimal waste and toxic by-products. The firm's technology eliminates inefficiencies and allows for a continuous, mass production of magnesium. Its magnesium is used for technological advancement opportunities for American industries including auto, airline, aerospace, and protecting national security interests with the department of defense.

Key Statistics of Western Magnesium Corp (WMG.H.V)

Key statistics in the stock market are essential financial indicators that measure a company's performance, valuation, profitability, and risk.

Today's Range

CAD0.11CAD0.12

Today's Open

CAD0.12

Volume

1096.00

P/E Ratio (TTM)

Market Cap

50.37M

Avg. Volume

95.05K

Dividend Yield

Financial Metrics & Statements of Western Magnesium Corp (WMG.H.V)

FAQ's for Western Magnesium Corp (WMG.H.V)

According to Musaffa’s Shariah screening methodology, Western Magnesium Corp (WMG.H.V) is currently classified as NOT HALAL as of January 2023. The classification is based on an evaluation of the company’s business activities and financial ratios to determine whether it meets Islamic investment guidelines.