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Platina Resources (ASX:PGM) Momentum Rank : 0 (As of Sep. 21, 2024)


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What is Platina Resources Momentum Rank?

Platina 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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Platina Resources Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Platina Resources Ltd (ASX:PGM) » Definitions » Momentum Rank
Comparable Companies
ASX:LOM ASX:GSN ASX:MPK ASX:LYN ASX:LDR ASX:MXR ASX:FTL ASX:RCR ASX:T88 ASX:MTM ISX:AMMN JSE:AMS SZSE:000975 LSE:FRES JSE:IMP MIC:ALRS HL ISX:MBMA TSX:TFPM JSE:SSW
Traded in Other Exchanges
PTNUF:USA
Address
c/- Corporate Consultants Pty Ltd, 389 Oxford Street, Level 2, Suite 9, Mount Hawthorn, Perth, WA, AUS, 6016
Website
https://www.platinaresources.com.au
Platina Resources Ltd is a company engaged in acquiring, exploring and developing mineral interests, prospective for precious metals and other mineral deposits. The company focuses on platinum group metals, zinc and gold and base metals. It holds an interest in Blue Moon, Owendale, Munni Munni, Skaergaard and Qialivarteerpik Projects.Geographically it operates in Greenland, Australia and North America and derives key revenue from Greenland.

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