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Orange Minerals NL (ASX:OMX) Momentum Rank : 0 (As of May. 26, 2024)


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What is Orange Minerals NL Momentum Rank?

Orange Minerals NL 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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Orange Minerals NL (ASX:OMX) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Orange Minerals NL (ASX:OMX) » Definitions » Momentum Rank
Comparable Companies
ASX:BMO ASX:CBH ASX:OCT ASX:DUN ASX:CBY ASX:AVW ASX:FRS ASX:PRS ASX:PUA ASX:BIM ISX:AMMN JSE:AMS MIC:ALRS SZSE:000975 LSE:FRES ISX:MBMA JSE:IMP TSX:TFPM HL JSE:NPH
Traded in Other Exchanges
N/A
Address
7 Havelock Street, Level 2, West Perth, Perth, WA, AUS, 6005
Website
https://www.orangeminerals.com.au
Orange Minerals NL is a gold and copper exploration company. The company has only one operating segment which is exploration in Australia. The key projects of the company are Calarie Project, the Wisemans Creek Project, the Copper Hill Project, the Boda Project, the Majestic Project and the Kurnalpi Project.

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