Red Metal Resources (XCNQ:RMES) Momentum Rank : 0 (As of Jan. 19, 2025)

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What is Red Metal Resources Momentum Rank?

Red Metal 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.

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Red Metal Resources Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Red Metal Resources Ltd (XCNQ:RMES) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

RMESF:USA I660:Germany

Address

1130 West Pender Street, Suite 820, Vancouver, BC, CAN, V6E 4A4

Website

https://www.redmetalresources.com

Red Metal Resources Ltd is involved in acquiring and exploring mineral properties in Chile. The company's interest in exploration and evaluation assets consisted of three active copper-gold projects on two properties, namely the Farellon and Perth Projects both located on the Carrizal Property and the Mateo Project located on the Mateo Property.

Executives

Richard Norman Jeffs	10% Security Holder
Caitlin Leigh Jeffs	10% Security Holder, Director
Michael John Thompson	Director, Senior Officer

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