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Red River Resources (ASX:RVR) Momentum Rank : 0 (As of Jun. 09, 2024)


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What is Red River Resources Momentum Rank?

Red River Resources has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

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Red River Resources (ASX:RVR) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Red River Resources Ltd (ASX:RVR) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
18144 Flinders Highway, Thalanga Mine, Charters Towers, QLD, AUS, 4820
Website
https://www.redriverresources.com.au
Red River Resources Ltd is seeking to build a multi-asset operating business focused on base and precious metals with the objective of delivering prosperity through lean and clever resource development. Its foundation asset is the Thalanga Base Metal Operation in Northern Queensland, where the company commenced copper, lead and zinc concentrate production in September 2017. It has acquired the high-grade Hillgrove Gold Project in New South Wales, which will enable the company to build a multi-asset operating business focused on base and precious metals. The company operates only in the industry of exploration for and development of minerals in Australia.

Red River Resources (ASX:RVR) Headlines