Nordique Resources (XCNQ:NORD) Momentum Rank : 0 (As of May. 26, 2024)

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What is Nordique Resources Momentum Rank?

Nordique 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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Nordique Resources (XCNQ:NORD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Nordique Resources Inc (XCNQ:NORD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

BRCGF:USA

Address

409 Granville Street, Suite 1000, Vancouver, BC, CAN, V6C 1T2

Website

https://www.brascanresources.com

Nordique Resources Inc Formerly Brascan Resources Inc is engaged in the identification, exploration and development of mineral resources, specifically focusing on lithium and gold exploration activities on its properties in Newfoundland and Brazil. It is a mineral exploration company mainly focused on gold, lithium and battery materials.

Nordique Resources (XCNQ:NORD) Headlines

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