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De Grey Mining (ASX:DEG) Momentum Rank : 5 (As of Jun. 04, 2024)


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What is De Grey Mining Momentum Rank?

De Grey Mining has the Momentum Rank of 5.

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 De Grey Mining's Momentum Rank

For the Gold subindustry, De Grey Mining'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.

De Grey Mining's Momentum Rank Distribution in the Metals & Mining Industry

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

* The bar in red indicates where De Grey Mining's Momentum Rank falls into.


De Grey Mining Momentum Rank Related Terms

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De Grey Mining (ASX:DEG) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » De Grey Mining Ltd (ASX:DEG) » Definitions » Momentum Rank
Comparable Companies
ASX:EMR ASX:RMS ASX:BGL ASX:GMD ASX:PRU ASX:CMM ASX:GOR ASX:RED ASX:WAF ASX:RRL SHSE:601899 NEM TSX:AEM TSX:ABX TSX:WPM TSX:FNV SHSE:600547 MIC:PLZL JSE:GFI ASX:NST
Traded in Other Exchanges
DGD:Germany
Address
2 Kings Park Road, Ground Level, West Perth, Perth, WA, AUS, 6005
Website
https://www.degreymining.com.au
De Grey Mining Ltd is a Western Australian-based mining company that centers on the exploration of base and precious metals. The company's primary focus lies in the Pilbara region on the Mallina Gold Project, which has been found to be prospective for gold mineralization. Geographically, it only operates in Australasia.