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CGN Resources (ASX:CGR) Momentum Rank : 0 (As of May. 15, 2024)


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What is CGN Resources Momentum Rank?

CGN 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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CGN Resources (ASX:CGR) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » CGN Resources Ltd (ASX:CGR) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
6 Richardson Street, Suite 4, Perth, WA, AUS, 6005
Website
https://www.cgnresources.com.au
CGN Resources Ltd is an exploration-focused mining company targeting copper, nickel, and specialty metals in Western Australia's West Arunta Region. The Company's main objective is to provide a return to Shareholders through the successful exploration, discovery and development of high value base and precious metal resources.

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