Alliance Nickel (Alliance Nickel) Momentum Rank : 0 (As of Jun. 17, 2024)

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What is Alliance Nickel Momentum Rank?

Alliance Nickel 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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Alliance Nickel (Alliance Nickel) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Alliance Nickel Ltd (OTCPK:AXNLF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

GM90:Germany AXN:Australia

Address

45 Stirling Highway, Level 1, Suite 1.02, Nedlands, WA, AUS, 6009

Website

https://www.alliancenickel.au

Alliance Nickel Ltd is an exploration and development company with nickel, cobalt and gold interests in Western Australia. Alliance's principal asset is its 100% owned NiWest Nickel Cobalt Project situated adjacent to Glencore's Murrin Murrin Operations. The company has completed a Pre-Feasibility Study which has confirmed the technical and economic viability of a heap leach and direct solvent extraction operation at undeveloped nickel/cobalt deposits in Australia.

Alliance Nickel (Alliance Nickel) Headlines

From GuruFocus

Stellantis Signs Offtake Agreement and Invests in Alliance Nickel for Battery-grade Nickel and Cobalt Sulphate

By PRNewswire PRNewswire • 04-28-2023