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Meteoric Resources NL (HAM:RNF) Momentum Rank : 6 (As of May. 12, 2024)


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What is Meteoric Resources NL Momentum Rank?

Meteoric Resources NL has the Momentum Rank of 6.

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 Meteoric Resources NL's Momentum Rank

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

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

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

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


Meteoric Resources NL Momentum Rank Related Terms

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Meteoric Resources NL (HAM:RNF) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Meteoric Resources NL (HAM:RNF) » Definitions » Momentum Rank
Comparable Companies
ASX:CHN ASX:GRR ASX:ARU ASX:RHI ASX:SYR ASX:MAU ASX:IPX ASX:MLX ASX:INR ASX:OMH ASX:BHP ASX:RIO LSE:RIO LSE:GLEN BSP:VALE3 ASX:FMG SAU:1211 GMEXICOB LSE:AAL TSX:TECK.B
Traded in Other Exchanges
METOF:USA RNF:Germany MEI:Australia
Address
35 Ventnor Street, Level 1, West Perth, Perth, WA, AUS, 6005
Website
https://www.meteoric.com.au
Meteoric Resources NL explores mineral tenements. It focuses on iron, gold, copper, and nickel deposits with a portfolio of projects in Brazil, Canada, Western Australia, and Northern Territory. The company projects include Juruena Gold Project, Brazil; Palm Springs Gold Project, Western Australia; Novo Astro Project; Warrego North Project; and Webb Diamond JV. The Group has three reportable segments being exploration activities in Brazil, exploration activities in Canada and exploration activities in Australia.