GoldON Resources (FRA:6NR2) Momentum Rank : 6 (As of Jun. 11, 2024)

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What is GoldON Resources Momentum Rank?

GoldON Resources has the Momentum Rank of 6.

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 GoldON Resources's Momentum Rank

For the Other Precious Metals & Mining subindustry, GoldON 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.

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

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

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

GoldON Resources Momentum Rank Related Terms

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GoldON Resources (FRA:6NR2) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » GoldON Resources Ltd (FRA:6NR2) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NCMBF:USA GLD:Canada

Address

179 - 2945 Jacklin Road, Suite 416, Victoria, BC, CAN, V9B 6J9

Website

https://www.goldonresources.com

GoldON Resources Ltd is an mineral exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. The current project portfolio includes seven properties located in the Red Lake Mining District (McDonough, Springpole East, Red Lake North, Pipestone Bay, Pakwash North, McInnes Lake, and West Madsen) and an eighth property located in the Patricia Mining District (Slate Falls).

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