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Argo Gold (XCNQ:ARQ) Momentum Rank : 0 (As of Jun. 06, 2024)


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What is Argo Gold Momentum Rank?

Argo Gold has the Momentum Rank of 0.

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.

Argo Gold Momentum Rank Related Terms

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Argo Gold (XCNQ:ARQ) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Argo Gold Inc (XCNQ:ARQ) » Definitions » Momentum Rank
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Traded in Other Exchanges
ARBTF:USA P3U:Germany
Address
350 Bay Street, Suite 700, Toronto, ON, CAN, M5H 2S6
Website
https://www.argogold.com
Argo Gold Inc is focused on gold exploration projects in central and northwestern Ontario. It is engaged in the acquisition, exploration, and development of mineral properties. Its projects include Uchi Gold Project; Woco Zone in the Uchi Gold Project, and Northgate Zone Uchi Gold Project, NW Ontario Gold Projects, Talbot Lake Gold Project, Angela Lake Gold Project, Zinc Silver Cobalt Projects, Hurdman Zinc-Silver Property, and Keelow Lake Project.
Executives
Judith Catharine Baker Director