Pasofino Gold (TSXV:VEIN) Momentum Rank : 3 (As of May. 25, 2024)

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What is Pasofino Gold Momentum Rank?

Pasofino Gold has the Momentum Rank of 3.

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 Pasofino Gold's Momentum Rank

For the Gold subindustry, Pasofino 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.

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

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

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

Pasofino Gold Momentum Rank Related Terms

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Pasofino Gold (TSXV:VEIN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Pasofino Gold Ltd (TSXV:VEIN) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

EFRGF:USA N07A:Germany

Address

366 Bay Street, Suite 200, Toronto, ON, CAN, M5H 4B2

Website

https://www.pasofinogold.com

Pasofino Gold Ltd is a Canada-based gold exploration company. It is engaged in the business of acquisition, exploration, and development of mineral properties located in Quebec, Canada. The company's projects consist of Roger Gold-Copper Project, located in the Chibougamau Mining District, and Dugbe Gold Project.

Executives

Stephen Roland Dattels

Director

Pasofino Gold (TSXV:VEIN) Headlines

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