NextSource Materials (TSX:NEXT) Momentum Rank : 1 (As of May. 13, 2024)

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What is NextSource Materials Momentum Rank?

NextSource Materials has the Momentum Rank of 1.

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 NextSource Materials's Momentum Rank

For the Other Industrial Metals & Mining subindustry, NextSource Materials'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.

NextSource Materials's Momentum Rank Distribution in the Metals & Mining Industry

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

* The bar in red indicates where NextSource Materials's Momentum Rank falls into.

NextSource Materials Momentum Rank Related Terms

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NextSource Materials (TSX:NEXT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » NextSource Materials Inc (TSX:NEXT) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NSRCF:USA 1JWA:Germany

Address

130 King Street West, Exchange Tower, Suite 1940, Toronto, ON, CAN, M5X 2A2

Website

https://www.nextsourcematerials.com

NextSource Materials Inc is a strategic materials development company based in Toronto, Canada. The company's Molo graphite project in Madagascar is one of the largest known and highest-quality graphite deposits globally, and contains SuperFlake graphite. The company also holds an interest in Green Giant Vanadium Project.