Deterra Royalties (ASX:DRR) Momentum Rank : 2 (As of Dec. 14, 2024)

View and export this data going back to 2020. Start your Free Trial

What is Deterra Royalties Momentum Rank?

Deterra Royalties has the Momentum Rank of 2.

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 Deterra Royalties's Momentum Rank

For the Other Industrial Metals & Mining subindustry, Deterra Royalties'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.

Deterra Royalties's Momentum Rank Distribution in the Metals & Mining Industry

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

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

Deterra Royalties Momentum Rank Related Terms

Thank you for viewing the detailed overview of Deterra Royalties's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

Deterra Royalties Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Deterra Royalties Ltd (ASX:DRR) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

DETRF:USA

Address

140 St Georges Terrace, Level 16, Perth, WA, AUS, 6000

Website

https://www.iluka.com

Deterra Royalties was spun out from Iluka Resources in October 2020, with Iluka retaining a 20% interest. Its only material income generating asset is a royalty covering iron ore produced by BHP from the Mining Area C royalty area in Western Australia. This includes the North Flank mine, producing around 60 million metric tons of iron ore a year, and the South Flank mine, expected to add 85 million metric tons by 2024 after producing first ore in 2021. It also covers most of the Tandanya and Mudlark deposits, which BHP intends to develop in the longer term as part of its plan to operate the MAC production hub for at least 50 years. Consistent with its strategy to grow into a diversified royalty firm, its Trident Royalties purchase is likely to provide modest diversification from iron ore.