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Energy Transition Minerals (ASX:ETM) Momentum Rank : 0 (As of Jun. 19, 2024)


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What is Energy Transition Minerals Momentum Rank?

Energy Transition 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.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

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Energy Transition Minerals (ASX:ETM) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Energy Transition Minerals Ltd (ASX:ETM) » Definitions » Momentum Rank
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Traded in Other Exchanges
GDLNF:USA G7PA:Germany
Address
Unit 7, 100 Railway Road, Subiaco, WA, AUS, 6008
Website
https://www.etransmin.com
Energy Transition Minerals Ltd is a mineral exploration and evaluation company. It is focused on advancing the Kvanefjeld multi-element project (rare earth elements, uranium, and zinc). Kvanefjeld project is centered on the Ilimaussaq Alkaline Complex in southern Greenland. The group also commenced initial exploration work on the Villasrubias lithium project in Spain.

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