GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Hammer Metals Ltd (ASX:HMX) » Definitions » Momentum Rank

Hammer Metals (ASX:HMX) Momentum Rank : 0 (As of May. 26, 2024)


View and export this data going back to 2003. Start your Free Trial

What is Hammer Metals Momentum Rank?

Hammer Metals 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.

Hammer Metals Momentum Rank Related Terms

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

Hammer Metals (ASX:HMX) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Hammer Metals Ltd (ASX:HMX) » Definitions » Momentum Rank
Comparable Companies
ASX:MI6 ASX:FEG ASX:SPD ASX:CAE ASX:LOM ASX:TLM ASX:AZY ASX:PNX ASX:MMA ASX:IDA ISX:AMMN JSE:AMS SZSE:000975 MIC:ALRS LSE:FRES JSE:IMP LIM:BUENAVC1 ISX:MBMA TSX:TFPM HL
Traded in Other Exchanges
6HM:Germany
Address
28-30 Mayfair Street, Unit 1 and 2, West Perth, Perth, WA, AUS, 6005
Website
https://www.hammermetals.com.au
Hammer Metals Ltd is engaged in the exploration and extraction of mineral resources. Its projects include the Mount Isa project, which consists of Kalman, Elaine, Overlander, Jubilee, and Mount Philp Deposits; and the Bronzewing South Project.

Hammer Metals (ASX:HMX) Headlines

No Headlines