Castle Minerals (ASX:CDT) Momentum Rank : 0 (As of Dec. 14, 2024)

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What is Castle Minerals Momentum Rank?

Castle Minerals 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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Castle Minerals Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

11 Ventnor Avenue, Suite 9, West Perth, Perth, WA, AUS, 6005

Website

https://www.castleminerals.com

Castle Minerals Ltd is a gold exploration company. It is engaged in the acquisition, exploration, and development of gold and other economic mineral deposits. The company has projects in Ghana and in the Pilbara of Western Australia. Its projects include the Woodcutters, Wilgee Springs, Earaheedy Basin, Wanganui & Polelle and Beasley Creek.