Golden Mile Resources (ASX:G88) Momentum Rank : 0 (As of Jun. 09, 2024)

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What is Golden Mile Resources Momentum Rank?

Golden Mile 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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Golden Mile Resources (ASX:G88) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Golden Mile Resources Ltd (ASX:G88) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

126 Phillip Street, Level 5, Sydney, NSW, AUS, 2000

Website

https://www.goldenmileresources.com.au

Golden Mile Resources Ltd is an Australian based exploration company that owns several resource tenements in Western Australia and are actively exploring the tenements for gold, nickel and cobalt and related resources. Its projects include Quicksilver Nickel-Cobalt Project, Minara Nickel-Cobalt Project, Ironstone Well Au Project, Murchison Lithium and Gold, Yarrambee Project, Darlot Au Project, Yuinmery Project, Gidgee Polymetallic Project and Leonora East Gold Project. The principal business and geographical segment of the company is Mineral Exploration within Western Australia.

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