Medgold Resources (TSXV:MED) Momentum Rank : 0 (As of Jun. 16, 2024)

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What is Medgold Resources Momentum Rank?

Medgold 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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Medgold Resources (TSXV:MED) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Medgold Resources Corp (TSXV:MED) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

200 Burrard Street, Suite 650, Vancouver, BC, CAN, V6C 3L6

Website

https://www.medgoldresources.com

Medgold Resources Corp is a Canada-based mineral exploration company. The Company is engaged in the acquisition and exploration of resource and precious base metal properties. The company's geographical segments include Canada, Serbia and Others. Its project consists of the Tlamino gold project which is located in the Serbo-Macedonian massif which is a north-south belt, extending southwards through Macedonia and Bulgaria and into Greece. The Tlamino project comprises two contiguous licenses namely Donje Lamino and Surlica-Dukat and Ljubata Project.