New Gold (TSX:NGD) Momentum Rank : 9 (As of Apr. 26, 2024)

View and export this data going back to 2002. Start your Free Trial

What is New Gold Momentum Rank?

New Gold has the Momentum Rank of 9.

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 New Gold's Momentum Rank

For the Gold subindustry, New 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.

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

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

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

New Gold Momentum Rank Related Terms

Thank you for viewing the detailed overview of New Gold's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

New Gold (TSX:NGD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » New Gold Inc (TSX:NGD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NGD:USA 32N:Germany

Address

181 Bay Street, Suite 3320, Toronto, ON, CAN, M5J 2T3

Website

https://www.newgold.com

New Gold Inc participates in the development and operation of intermediate mining properties. The company has a portfolio of two primary assets: the Rainy River Mine and the New Afton Mine in Canada. The company also owns the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of gold, copper, and silver to various banks engaged in the trading of precious metals and refineries.