Hartshead Resources NL (ASX:HHR) Momentum Rank : 0 (As of Jun. 03, 2024)

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What is Hartshead Resources NL Momentum Rank?

Hartshead Resources NL 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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Hartshead Resources NL (ASX:HHR) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

PGNYF:USA

Address

333C Charles Street, North Perth, Perth, WA, AUS, 6006

Website

https://www.hartshead-resources.com.au

Hartshead Resources NL is building a financially, technically, and environmentally responsible European Energy business. It is the owner and operator of License P2607 on the United Kingdom Continental Shelf, in the Southern Gas Basin. The License contains multiple gas fields, some of which have been only partially developed. The company also has operations in Poland, Gabon, and Madagascar. The Group has three reportable segments. The first is an interest in developing and exploring gas fields in the UK North Sea in Seaward Production License P2607. The second is an interest in exploring for oil in acreage known as, the Nkembe block, located offshore Gabon. The third interest is at the Ambilobe block, located offshore Madagascar.