South32 (South32) Momentum Rank : 1 (As of May. 06, 2024)

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What is South32 Momentum Rank?

South32 has the Momentum Rank of 1.

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 South32's Momentum Rank

For the Other Industrial Metals & Mining subindustry, South32'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.

South32's Momentum Rank Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, South32's Momentum Rank distribution charts can be found below:

* The bar in red indicates where South32's Momentum Rank falls into.

South32 Momentum Rank Related Terms

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South32 (South32) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » South32 Ltd (OTCPK:SHTLF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

S32:South Africa SOUHY:USA S32l:UK S32:UK 32Z:Germany S32:Australia

Address

108 St Georges Terrace, Level 35, Perth, WA, AUS, 6000

Website

https://www.south32.net

South32 was born of the demerger of noncore assets from BHP in 2015. South32's major operations include alumina businesses in Australia and Brazil, aluminium in Brazil, South Africa, and Mozambique, manganese businesses in Australia and South Africa, and New South Wales metallurgical coal. It also owns the Cannington silver/lead/zinc mine in northwest Queensland and the Cerro Matoso nickel mine in Colombia. Cannington silver mine and manganese operations deliver high returns, but have relatively short reserve life. The company acquired Arizona Mining, which brings with it the high-grade and likely low-cost Taylor deposit in the U.S., and also entered the copper business in 2022 via the purchase of a 45% stake in the Sierra Gorda mine in Chile.

South32 (South32) Headlines

From GuruFocus

South32 to Acquire Arizona Mining in Agreed All Cash Offer

By Marketwired Marketwired • 06-18-2018

South32 Ltd (SOUHY): A Comprehensive Analysis of Its Dividend Performance and Sustainability

By GuruFocus Research • 09-14-2023