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Canstar Resources (TSXV:ROX) Momentum Rank : 0 (As of Sep. 25, 2024)


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What is Canstar Resources Momentum Rank?

Canstar 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.

Canstar Resources Momentum Rank Related Terms

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Canstar Resources Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Canstar Resources Inc (TSXV:ROX) » Definitions » Momentum Rank
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Traded in Other Exchanges
CSRNF:USA
Address
220 Bay Street, Suite 550, Toronto, ON, CAN, M5J 2W4
Website
https://www.canstarresources.com
Canstar Resources Inc is focused on creating shareholder value through the discovery and development of economic mineral deposits in Newfoundland and Labrador, Canada. The company has an option to acquire a 100% interest in the Golden Baie Project in south-central Newfoundland, a claim package with recently discovered, multiple outcropping gold occurrences on a structural trend. It also holds the Buchans-Mary March project and other mineral exploration properties in Newfoundland.
Executives
Christos Doulis Senior Officer