Encounter Resources (ASX:ENR) Momentum Rank : 10 (As of Jun. 07, 2024)

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What is Encounter Resources Momentum Rank?

Encounter Resources has the Momentum Rank of 10.

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 Encounter Resources's Momentum Rank

For the Other Industrial Metals & Mining subindustry, Encounter Resources'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.

Encounter Resources's Momentum Rank Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Encounter Resources's Momentum Rank falls into.

Encounter Resources Momentum Rank Related Terms

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Encounter Resources (ASX:ENR) Business Description

Industry

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

Comparable Companies

Traded in Other Exchanges

N/A

Address

1 Alvan Street, Suite 2, Subiaco, Perth, WA, AUS, 6008

Website

https://www.enrl.com.au

Encounter Resources Ltd is an exploration and resource development company focused on projects in Western Australia and the Northern Territory. The company is actively exploring gold-copper deposits in the Telfer region as well as copper-cobalt and zinc-lead deposits at Yeneena in the Paterson Province of Western Australia. Its project includes Jessica Copper Project, East Thomson's Dome Project, Rani Project, Mt Sefton Project, Millennium Project, Sandover Copper Project, Carrara Copper/Zinc Project, Brunchilly Copper/Zinc Project, Playford Copper Project, Lamil Project, and Phillipson Range project. It has one reportable segment being mineral exploration.