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Kirkland Lake Gold (STU:NGDA) Momentum Rank : 0 (As of May. 29, 2024)


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What is Kirkland Lake Gold Momentum Rank?

Kirkland Lake Gold 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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Kirkland Lake Gold (STU:NGDA) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Kirkland Lake Gold Ltd (STU:NGDA) » Definitions » Momentum Rank
Comparable Companies
TSX:K TSX:AEM TSX:BTO TSX:YRI TSX:NG TSX:AGI TSX:CG TSX:SSRM TSX:EDV TSX:LUG NEM TSX:ABX TSX:FNV MIC:PLZL TSX:WPM ASX:NCM SHSE:600547 JSE:ANG RGLD JSE:GFI
Traded in Other Exchanges
N/A
Address
200 Bay Street, Suite 2800, Toronto, ON, CAN, M5J 2J1
Website
https://www.klgold.com
Kirkland Lake Gold Ltd is a Canada-based gold mining, development, and exploration company with a diversified portfolio of exploration projects. The production profile of the company includes the Macassa mine complex located in northeastern Ontario and the Fosterville gold mine located in the State of Victoria, Australia. Also, the company owns the Holt mine and the Detour mine. The company's mines and material mineral projects are located in Canada and Australia.

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