Newport Exploration (Newport Exploration) Momentum Rank : 2 (As of May. 27, 2024)

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What is Newport Exploration Momentum Rank?

Newport Exploration has the Momentum Rank of 2.

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.

Competitive Comparison of Newport Exploration's Momentum Rank

For the Other Industrial Metals & Mining subindustry, Newport Exploration's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Newport Exploration's Momentum Rank Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Newport Exploration's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Newport Exploration's Momentum Rank falls into.

Newport Exploration Momentum Rank Related Terms

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Newport Exploration (Newport Exploration) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Newport Exploration Ltd (OTCPK:NWXPF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NWX:Canada

Address

2168 Marine Drive, Suite 202, Vancouver, BC, CAN, V7V 1K3

Website

https://www.newport-exploration.com

Newport Exploration Ltd is an exploration stage company. It is engaged in the acquisition and exploration of resource properties. Its projects include Cooper Basin in Australia and Chu Chua property in Canada. Newport has royalty interests in producing oil and gas permits in the Cooper Basin, Australia, and a mining project in British Columbia, Canada. Its Cooper Basin project includes EX-PEL 91 OIL and EX-PEL'S 632, 106, and PPL 239-WET GAS, which is located on Western Wet Gas Fairway, Cooper Basin.