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GoviEx Uranium (TSXV:GXU) Momentum Rank : 0 (As of May. 01, 2024)


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What is GoviEx Uranium Momentum Rank?

GoviEx Uranium 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.

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GoviEx Uranium (TSXV:GXU) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Other Energy Sources » GoviEx Uranium Inc (TSXV:GXU) » Definitions » Momentum Rank
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Traded in Other Exchanges
GVXXF:USA 7GU:Germany
Address
999 Canada Place, Suite 606, Vancouver, BC, CAN, V6C 3E1
Website
http://www.goviex.com
GoviEx Uranium Inc is a Canada-based company involved in the industrial metals and mining business sector. It is focused on the evaluation and development of uranium properties located in the Republic of Niger. The asset portfolio of the company includes uranium development projects, including the Madaouela project in Niger, the Mutanga project in Zambia, and Falea in Mali. The Company has one business segment, exploring mineral properties, with its primary project in Niger.

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