Rimfire Pacific Mining (ASX:RIM) Momentum Rank : 0 (As of Jun. 02, 2024)

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What is Rimfire Pacific Mining Momentum Rank?

Rimfire Pacific Mining 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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Rimfire Pacific Mining (ASX:RIM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Rimfire Pacific Mining Ltd (ASX:RIM) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

1 Queens Road, Suite 142, St Kilda Rd Towers, Melbourne, VIC, AUS, 3004

Website

https://www.rimfire.com.au

Rimfire Pacific Mining Ltd is engaged in the exploration and evaluation of mineral deposits. The exploration project is located in the Lachlan Transverse Zone. Geographically, it operates only in Australia. It holds interest in four projects in the Lachlan Fold Belt namely Valley Project; Cowal Project; Fifield Project; and Avondale Project. It also holds one project namely Green View Project in the Willyama Supergroup in New South Wales.

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