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MinRex Resources (ASX:MRR) Momentum Rank : 0 (As of Jun. 19, 2024)


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What is MinRex Resources Momentum Rank?

MinRex 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.

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

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MinRex Resources (ASX:MRR) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » MinRex Resources Ltd (ASX:MRR) » Definitions » Momentum Rank
Comparable Companies
ASX:ASE ASX:AKO ASX:ITM ASX:ANX ASX:OD6 ASX:NGX ASX:CUF ASX:CST ASX:PHO ASX:MRD ASX:BHP ASX:RIO LSE:RIO LSE:GLEN BSP:VALE3 ASX:FMG SAU:1211 LSE:AAL GMEXICOB MIC:GMKN
Traded in Other Exchanges
L4Z:Germany
Address
7 Havelock Street, Level 2, Perth, WA, AUS, 6005
Website
https://www.minrex.com.au
MinRex Resources Ltd is an exploration company focused on the exploration of gold and base metal projects in Western Australia. It currently holds five projects, four in the East Pilbara area of WA - the Daltons Gold Project, the Bamboo Creek Gold Project, the Marble Bar North Gold Project and the Marble Bar South Gold Project; as well as the Deflector Extended Gold Project at Gullewa in Western Australia.

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