Metals Exploration (LSE:MTL) Momentum Rank : 0 (As of Jun. 05, 2024)

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What is Metals Exploration Momentum Rank?

Metals Exploration 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.

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Metals Exploration (LSE:MTL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Metals Exploration PLC (LSE:MTL) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

MJ4:Germany

Address

Berkeley Square, Room 169, First Floor,, Berkeley Square House,, London, GBR, W1J 6DB

Website

https://www.metalsexploration.com

Metals Exploration PLC is a natural resource exploration and development company. The company identifies, acquires, and develops mining and processing projects, mining companies, and businesses with a focus on base and precious metals mining opportunities. The main asset of the company is a Runruno gold-molybdenum project in Northern Philippines. The company operates in geographic areas of the UK, Philippines, and Singapore.