Walkabout Resources (ASX:WKT) Momentum Rank : 9 (As of May. 23, 2024)

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What is Walkabout Resources Momentum Rank?

Walkabout Resources has the Momentum Rank of 9.

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 Walkabout Resources's Momentum Rank

For the Other Industrial Metals & Mining subindustry, Walkabout 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.

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

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

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

Walkabout Resources Momentum Rank Related Terms

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Walkabout Resources (ASX:WKT) Business Description

Industry

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

Comparable Companies

Traded in Other Exchanges

N6D:Germany

Address

45 Ventnor Avenue, West Perth, Perth, WA, AUS, 6005

Website

https://www.wkt.com.au

Walkabout Resources Ltd is engaged in the exploration and development of resources and energy assets located in Australia, Botswana, Namibia, Malawi, Northern Ireland, Scotland and Tanzania. It explores gold, copper, and others. The company reportable segments include Graphite; Gold, Base Metal; Lithium and Corporate. The company's project consists of Lindi Jumbo graphite project and Eureka Lithium Project.

Walkabout Resources (ASX:WKT) Headlines

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