MGX Minerals (MGX Minerals) Momentum Rank : 0 (As of May. 01, 2024)

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What is MGX Minerals Momentum Rank?

MGX Minerals 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.

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MGX Minerals (MGX Minerals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » MGX Minerals Inc (OTCPK:MGXMF) » Definitions » Momentum Rank

Comparable Companies

XCNQ:STGX TSXV:SILV TSXV:LMS TSXV:PX TSXV:ABZ TSXV:EGM TSXV:GTC TSXV:FUSE TSXV:SYG TSXV:IZN

Traded in Other Exchanges

N/A

Address

1080 Howe Street, Suite 303, Vancouver, BC, CAN, V6C 2T1

Website

http://www.mgxminerals.com

MGX Minerals Inc is an exploration stage company engaged in the process of exploring its mineral properties in Canada. The company is a developer of lithium, magnesium and silicon projects. Its projects comprise Driftwood Creek project; Fran Gold project; Tillicum Gold project; Canada Lithium project; and Silica Projects.