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Manganese X Energy (TSXV:MN) Momentum Rank : 0 (As of Jun. 09, 2024)


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What is Manganese X Energy Momentum Rank?

Manganese X Energy 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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Manganese X Energy (TSXV:MN) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Manganese X Energy Corp (TSXV:MN) » Definitions » Momentum Rank
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Traded in Other Exchanges
MNXXF:USA 9SC:Germany
Address
145 Rue Graveline, Saint Laurent, QC, CAN, H4T 1R3
Website
https://www.manganesexenergycorp.com
Manganese X Energy Corp is a Canada-based junior mineral exploration and development company. The company is engaged in acquiring and exploring mineral properties in North America. It is focused on supplying materials to lithium-ion batteries and other alternative energy industries. The company's project consists of Battery Hill, located in the Canadian province of New Brunswick. The company also holds various other properties such as the Peter Lake Copper-Nickel-Cobalt property, Lac Aux Bouleaux property, and others.
Executives
Robert Tjandra Director