Norsemont Mining (XCNQ:NOM) Momentum Rank : 2 (As of May. 14, 2024)

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What is Norsemont Mining Momentum Rank?

Norsemont Mining 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 Norsemont Mining's Momentum Rank

For the Gold subindustry, Norsemont Mining'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.

Norsemont Mining's Momentum Rank Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Norsemont Mining's Momentum Rank falls into.

Norsemont Mining Momentum Rank Related Terms

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Norsemont Mining (XCNQ:NOM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Norsemont Mining Inc (XCNQ:NOM) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NRRSF:USA LXZ1:Germany

Address

700 West Pender Street, Suite 610, Vancouver, BC, CAN, V6C 1G8

Website

https://www.norsemont.com

Norsemont Mining Inc. comprises experienced natural resource professionals focused on growing shareholder value and fast-tracking its flagship project through to bankable feasibility. Norsemont owns a 100-per-cent interest in the Choquelimpie gold-silver project in northern Chile. The company's mining properties are located in Canada (Burge Lake Project) and Chile (Choquelimpie). Choquelimpie has over 1,700 drill holes, with substantial existing infrastructure. Other reportable segments consist of the Burge Lake Project.