Torex Gold Resources (TSX:TXG) Momentum Rank : 8 (As of May. 07, 2024)

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What is Torex Gold Resources Momentum Rank?

Torex Gold Resources has the Momentum Rank of 8.

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 Torex Gold Resources's Momentum Rank

For the Gold subindustry, Torex Gold 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.

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

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

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

Torex Gold Resources Momentum Rank Related Terms

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Torex Gold Resources (TSX:TXG) Business Description

Industry

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

Comparable Companies

Traded in Other Exchanges

TORXF:USA 73GN:Germany

Address

Exchange Tower, 130 King Street West, Suite 740, Toronto, ON, CAN, M5X 2A2

Website

https://www.torexgold.com

Torex Gold Resources Inc is an intermediate producer of gold and other precious metals, engaged in the exploration, development, and exploration of its wholly owned Morelos Gold Property. The property consists of 29,000 hectares in the Guerrero Gold Belt, located 180 kilometres southwest of Mexico City and approximately 50 kilometres southwest of Iguala. Within this property, the company has two assets: the El Limon-Guajes Mine, an open pit gold deposit located north of the Balsas river, and the Media Luna Project.