Athena Resources (ASX:AHN) Momentum Rank : 0 (As of May. 31, 2024)

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What is Athena Resources Momentum Rank?

Athena Resources 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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Athena Resources (ASX:AHN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Athena Resources Ltd (ASX:AHN) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

21 Millstream Rise, Hillarys, WA, AUS, 6025

Website

https://www.athenaresources.com.au

Athena Resources Ltd is a mineral exploration company based in Australia. The company's projects involve Byro Base metals and Byro Industrial metals. It explores for Byro Project located in the Midwest Iron Province. Byro Base metals project is situated in the highly prospective Narryer Terrane, which forms the northernmost part of the West Yilgarn Ni-Cu-PGE Province. Byro Industrial project consists of the Byro Iron project, located in the Midwest Iron province which includes a substantial mining sector.

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