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Astute Metals NL (ASX:ASE) Momentum Rank : 0 (As of Jun. 25, 2024)


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What is Astute Metals NL Momentum Rank?

Astute Metals 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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Astute Metals NL (ASX:ASE) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Astute Metals NL (ASX:ASE) » Definitions » Momentum Rank
Comparable Companies
ASX:LNR ASX:MIO ASX:QXR ASX:SRK ASX:SUM ASX:I88 ASX:PNN ASX:ERW ASX:MRR ASX:GW1 ASX:BHP ASX:RIO LSE:RIO LSE:GLEN ASX:FMG BSP:VALE3 SAU:1211 MEX:GMEXICOB LSE:AAL BOM:500188
Traded in Other Exchanges
N/A
Address
189 Kent Street, Suite 6, Level 5, Sydney, NSW, AUS, 2000
Website
https://www.aro.com.au
Astute Metals NL is a mineral resources company with a predominant focus on the exploration and development of mineral sands. The Group operated in four operating segments being Heavy minerals, Diamond Exploration, Lithium, and Gold Exploration industry in the geographical location, being Australia.

Astute Metals NL (ASX:ASE) Headlines

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