Nevsun Resources (Nevsun Resources) Momentum Rank : 0 (As of May. 05, 2024)

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What is Nevsun Resources Momentum Rank?

Nevsun 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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Nevsun Resources (Nevsun Resources) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Nevsun Resources Ltd (AMEX:NSU) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

1066 West Hastings Street, Suite 1750, Vancouver, BC, CAN, V6E 3X1

Website

http://www.nevsun.com

Nevsun Resources Ltd is involved in acquisition, exploration, development and operation of mineral property interests. The company primarily engages in copper and zinc production at Bisha, a large, high-grade volcanogenic massive sulphide deposit located 150km west of Asmara, Eritrea, East Africa. The company generates revenue through the sale of copper and zinc concentrates which contain gold and silver by-products. Bisha is mined using conventional drill and blast open pit mining techniques to remove waste and deliver ore to the run of mine stock pile. Nevsun Resources also operates a high-grade copper and gold Timok project, a high-grade deposit located in the Bor mining district, in Serbia.