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Red Lake Gold (XCNQ:RGLD) Momentum Rank : 0 (As of Jun. 14, 2024)


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What is Red Lake Gold Momentum Rank?

Red 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.

Red Lake Gold Momentum Rank Related Terms

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Red Lake Gold (XCNQ:RGLD) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Red Lake Gold Inc (XCNQ:RGLD) » Definitions » Momentum Rank
Comparable Companies
TSXV:GUG TSXV:WGLD TSX:GBAR TSXV:SMP XCNQ:CTOC TSXV:CANX TSXV:LWR XCNQ:PGA TSXV:PGC TSXV:CSG.H SHSE:601899 NEM TSX:ABX TSX:FNV TSX:AEM TSX:WPM MIC:PLZL SHSE:600547 ASX:NCM JSE:GFI
Traded in Other Exchanges
P11A:Germany
Address
789 West Pender Street, Suite 810, Vancouver, BC, CAN, V6C 1H2
Website
https://www.redlakegold.ca
Red Lake Gold Inc is focused on a high-impact gold exploration through its Whirlwind Jack Gold Project which is a district-scale gold exploration project located near Red Lake, Ontario. The LP Fault structure interpreted in this project is situated within a deep magnetic low. The company projects also include Fenelon North Gold Project, Preston District Uranium Project.
Executives
Ryan Kalt 10% Security Holder, Director, Senior Officer