Eloro Resources (Eloro Resources) Momentum Rank : 5 (As of May. 26, 2024)

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What is Eloro Resources Momentum Rank?

Eloro Resources has the Momentum Rank of 5.

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.

Competitive Comparison of Eloro Resources's Momentum Rank

For the Gold subindustry, Eloro Resources's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Eloro Resources's Momentum Rank Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Eloro Resources's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Eloro Resources's Momentum Rank falls into.

Eloro Resources Momentum Rank Related Terms

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Eloro Resources (Eloro Resources) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Eloro Resources Ltd (OTCPK:ELRRF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

P2QM:Germany ELO:Canada

Address

20 Adelaide Street East, Suite 200, Toronto, ON, CAN, M5C 2T6

Website

https://elororesources.com

Eloro Resources Ltd is an exploration and mine development company with a portfolio of gold-silver property in Peru, a polymetallic property in Bolivia, and base metal properties in Quebec. The company has an option to acquire a 99% interest in the Iska Iska Property, located in southern Bolivia, and owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru. It has one reportable segment being mineral exploration.