Metallica Minerals (ASX:MLM) Momentum Rank : 0 (As of May. 24, 2024)

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What is Metallica Minerals Momentum Rank?

Metallica 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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Metallica Minerals (ASX:MLM) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

MM4:Germany

Address

Level 1, North Tower, Terrace Office Park, 527 Gregory Terrace, Fortitude Valley, Brisbane, QLD, AUS, 4006

Website

https://www.metallicaminerals.com.au

Metallica Minerals Ltd is engaged in the mineral exploration, evaluation, and development of its bauxite project. The company's project interests include Cape Flattery Silica Sands Project, Esmeralda base metals, gold and graphite project.