Mandrake Resources (ASX:MAN) Momentum Rank : 0 (As of May. 11, 2024)

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What is Mandrake Resources Momentum Rank?

Mandrake Resources 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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Mandrake Resources (ASX:MAN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Mandrake Resources Ltd (ASX:MAN) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

CQ4:Germany

Address

10 Outram Street, Level 1, West Perth, Perth, WA, AUS, 6005

Website

https://www.mandrakeresources.com.au

Mandrake Resources Ltd is engaged in the exploration of mineral properties. It holds interests in the Berinka Pine Creek Gold Project located to the south of Darwin; and the Jimperding Project, Utah lithium. The company has an exploration license in the western limb of the Pine Creek Orogen, Northern Territory.