Elevation Gold Mining (Elevation Gold Mining) Momentum Rank : 0 (As of May. 15, 2024)

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What is Elevation Gold Mining Momentum Rank?

Elevation Gold Mining 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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Elevation Gold Mining (Elevation Gold Mining) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Elevation Gold Mining Corp (OTCPK:EVGDF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

54NA:Germany ELVT:Canada

Address

1188 West Georgia, Suite 1920, Vancouver, BC, CAN, V6E 4A2

Website

https://www.elevationgold.com

Elevation Gold Mining Corp operates as a precious metals exploration and mining company. It acquires, explores for, and develops mineral properties in the United States and Canada. The firm is focused on the reactivation of its Moss Mine Project. The company operates through a single segment which is the acquisition, exploration, development and production of precious metals.. It generates revenue from the sale of gold and silver.