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Alchemy Resources (STU:45A) Momentum Rank : 0 (As of May. 28, 2024)


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What is Alchemy Resources Momentum Rank?

Alchemy Resources 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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Alchemy Resources (STU:45A) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Alchemy Resources Ltd (STU:45A) » Definitions » Momentum Rank
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Traded in Other Exchanges
ALY:Australia
Address
8 Clive Street, Suite 8, West Perth, Perth, WA, AUS, 6005
Website
https://www.alchemyresources.com.au
Alchemy Resources Ltd engages in mineral exploration activities. It focuses on gold, lithium, cobalt and other base metal assets. The company's projects include Karonie and Lake Rebecca Projects, Lachlan/Cobar Basin Projects, Bryah Basin Project, Woodsreef Nickel-Cobalt Projects, and West Lynn Project. The Group operates in one geographical segment, being Australia and in one operating category, being Mineral Exploration.

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