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Avesoro Resources (TSX:ASO) Momentum Rank : 0 (As of Jun. 19, 2024)


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What is Avesoro Resources Momentum Rank?

Avesoro 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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Avesoro Resources (TSX:ASO) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Avesoro Resources Inc (TSX:ASO) » Definitions » Momentum Rank
Comparable Companies
MIC:LNZLP ASX:CDV ASX:CYL TSXV:PGM TSX:TNX HKSE:00621 TSX:HRT MIC:SELG TSX:GUY TSX:MOZ TSX:MAX TSX:GCM ASX:RND CTGO ASX:RED ASX:EMR MIC:BRZL TSX:ITH ASX:BRB TSX:GOLD
Traded in Other Exchanges
N/A
Address
200 Bay Street, Royal Bank Plaza, Suite 3800, South Tower, Toronto, ON, CAN, M5J 2Z4
Website
www.avesoro.com
Avesoro Resources Inc is engaged in the exploration and development of gold assets in West Africa, specifically the New Liberty Gold Mine in Liberia. Commercial production at New Liberty. The company's exploration assets are The New Liberty Gold Mine and Ndablama Gold Project located in Liberia, the Youga and Balogo Gold Mines located in Burkina Faso. The operating segments of the company include New Liberty operations, Liberia exploration, Cameroon exploration, and Corporate.