Horizon Gold (ASX:HRN) Momentum Rank : 2 (As of May. 26, 2024)

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What is Horizon Gold Momentum Rank?

Horizon Gold has the Momentum Rank of 2.

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 Horizon Gold's Momentum Rank

For the Gold subindustry, Horizon 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.

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

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

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

Horizon Gold Momentum Rank Related Terms

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Horizon Gold (ASX:HRN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Horizon Gold Ltd (ASX:HRN) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

HO0:Germany

Address

47 Havelock Street, Suite 8, Level 3, West Perth, WA, AUS, 6005

Website

https://www.horizongold.com.au

Horizon Gold Ltd is a gold mining company. It is engaged in the acquisition, exploration, and development of gold reserves of the Gum Creek Gold Project in Western Australia. The project covers the Gum Creek Greenstone Belt located within the Southern Cross Province of the Youanmi Terrane In Yilgarn Craton in Western Australia.

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