Montego Resources (Montego Resources) Momentum Rank : 2 (As of Jun. 02, 2024)

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What is Montego Resources Momentum Rank?

Montego Resources 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 Montego Resources's Momentum Rank

For the Other Precious Metals & Mining subindustry, Montego Resources'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.

Montego Resources's Momentum Rank Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Montego Resources's Momentum Rank falls into.

Montego Resources Momentum Rank Related Terms

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Montego Resources (Montego Resources) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Montego Resources Inc (OTCPK:MONGF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

4MO:Germany MY:Canada

Address

400-837 West Hastings Street, Vancouver, BC, CAN, V6C 3N6

Website

https://www.montegoresources.ca

Montego Resources Inc is a junior mineral exploration company engaged in the business of acquiring, exploring, and evaluating natural resource properties. It is currently focused on conducting an exploration program on the Taylor Silver Property, Orogrande Gold Project, and the Black Dog Property.

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