Red Lake Gold (XCNQ:RGLD) Momentum Rank : 7 (As of Dec. 13, 2024)

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What is Red Lake Gold Momentum Rank?

Red Lake Gold has the Momentum Rank of 7.

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 Red Lake Gold's Momentum Rank

For the Gold subindustry, Red Lake Gold'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.

Red Lake Gold's Momentum Rank Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Red Lake Gold's Momentum Rank falls into.

Red Lake Gold Momentum Rank Related Terms

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Red Lake Gold Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Red Lake Gold Inc (XCNQ:RGLD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

1075 West Georgia Street, Suite 1890, Vancouver, BC, CAN, V6E 3C9

Website

https://www.redlakegold.ca

Red Lake Gold Inc is focused on high-impact gold exploration through its Whirlwind Jack Gold Project which is a district-scale gold exploration project located near Red Lake, Ontario. The LP Fault structure interpreted in this project is situated within a deep magnetic low. The company's projects also include the Fenelon North Gold Project and the Celt Lake Lithium Project.

Executives

Ryan Kalt

10% Security Holder, Director, Senior Officer