Mkango Resources (TSXV:MKA) Momentum Rank : 4 (As of Jun. 22, 2024)

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What is Mkango Resources Momentum Rank?

Mkango Resources has the Momentum Rank of 4.

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 Mkango Resources's Momentum Rank

For the Other Industrial Metals & Mining subindustry, Mkango Resources'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.

Mkango Resources's Momentum Rank Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Mkango Resources's Momentum Rank falls into.

Mkango Resources Momentum Rank Related Terms

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Mkango Resources (TSXV:MKA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Mkango Resources Ltd (TSXV:MKA) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

MKNGF:USA MKA:UK ZMK:Germany

Address

550 Burrard Street, Suite 2900, Vancouver, BC, CAN, V6C 0A3

Website

https://www.mkango.ca

Mkango Resources Ltd is engaged in the exploration and development of rare earth elements and associated minerals in the Republic of Malawi. The Company holds interests in exclusive prospecting licenses in Malawi namely the Phalombe license, the Thambani license, the Chimimbe license, and the Mchinji license. Mkango also has an exploration portfolio in Malawi, including the Mchinji rutile discovery, in addition to the Thambani uranium-tantalum-niobium-zircon project and Chimimbe nickel-cobalt project.

Executives

Resource Early Stage Opportunity Company

10% Security Holder

Mkango Resources (TSXV:MKA) Headlines

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