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Petmin (LSE:PTMN) Momentum Rank : 0 (As of May. 24, 2024)


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What is Petmin Momentum Rank?

Petmin 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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Petmin (LSE:PTMN) Business Description

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Petmin Ltd is a mineral exploration company mining & producing, iron ore,metallurgical anthracite and energy coal and pig iron. It is geographically diversified with mining operations in South Africa, an industrial project in North America, and exploration projects in Liberia and Turkey. It is South Africa's producer of metallurgical anthracite, and is developing a high-potential iron sands to pig iron project in Canada. The Company is also engaged on commodities that support the steel value chain and are required for urbanisation and infrastructure growth.