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Niobay Metals (TSXV:NBY) Momentum Rank : 0 (As of Jun. 19, 2024)


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What is Niobay Metals Momentum Rank?

Niobay Metals 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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Niobay Metals (TSXV:NBY) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Niobay Metals Inc (TSXV:NBY) » Definitions » Momentum Rank
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Traded in Other Exchanges
NBYCF:USA
Address
1 Place Ville-Marie, Suite 4000, 40th Floor, Claude Dufresne, Montreal, QC, CAN, H3B 4M4
Website
https://www.niobaymetals.com
Niobay Metals Inc is engaged in the acquisition, exploration, and evaluation of mineral properties. Its project includes the James Bay Niobium Project located in northern Ontario, Canada. Its other projects include the Crevier niobium and tantalum project.
Executives
Claude Dufresne Director, Senior Officer