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Blaze Minerals (ASX:BLZ) Momentum Rank : 0 (As of May. 29, 2024)


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What is Blaze Minerals Momentum Rank?

Blaze Minerals 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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Blaze Minerals (ASX:BLZ) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Blaze Minerals Ltd (ASX:BLZ) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
330 Churchill Avenue, Suite 9, Subiaco, WA, AUS, 6008
Website
https://www.blazelimited.com.au
Blaze Minerals Ltd is an exploration company. Its exploration portfolio supports a business model designed to facilitate the discovery and development of economic mineral deposits. The focuses of Blaze is gold exploration and development of its projects located in the Murchison and North Eastern Goldfields of Western Australia. It holds base metals exploration projects in the Earaheedy Basin of Western Australia.

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