GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » 29Metals Ltd (ASX:29M) » Definitions » Momentum Rank

29Metals (ASX:29M) Momentum Rank : 0 (As of Jun. 10, 2024)


View and export this data going back to 2021. Start your Free Trial

What is 29Metals Momentum Rank?

29Metals 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.

29Metals Momentum Rank Related Terms

Thank you for viewing the detailed overview of 29Metals's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

29Metals (ASX:29M) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » 29Metals Ltd (ASX:29M) » Definitions » Momentum Rank
Comparable Companies
ASX:BDM ASX:BOC ASX:STK ASX:A1M ASX:SMI ASX:XAM ASX:CEL ASX:CNB ASX:NWF ASX:MI6 ISX:AMMN JSE:AMS MIC:ALRS SZSE:000975 LSE:FRES ISX:MBMA JSE:IMP TSX:TFPM HL JSE:NPH
Traded in Other Exchanges
N/A
Address
150 Collins Street, Level 2, Melbourne, VIC, AUS, 3000
Website
https://www.29metals.com
29Metals Ltd is a copper-focused base and precious metals mining company. It has two long-life, producing assets: Golden Grove in Western Australia (copper, zinc, gold, and silver) and Capricorn Copper in Queensland (copper and silver).

29Metals (ASX:29M) Headlines

No Headlines