Power Minerals (ASX:PNN) Momentum Rank : 3 (As of Jun. 22, 2024)

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What is Power Minerals Momentum Rank?

Power Minerals has the Momentum Rank of 3.

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.

Competitive Comparison of Power Minerals's Momentum Rank

For the Other Industrial Metals & Mining subindustry, Power Minerals's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Power Minerals's Momentum Rank Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Power Minerals's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Power Minerals's Momentum Rank falls into.

Power Minerals Momentum Rank Related Terms

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Power Minerals (ASX:PNN) Business Description

Industry

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Traded in Other Exchanges

PEIMF:USA

Address

6/68 North Terrace, Level 1, Kent Town, SA, AUS, 5067

Website

https://www.powerminerals.com.au

Power Minerals Ltd is a mineral resources exploration company with a portfolio of projects in demand driven commodities, and is focused on the systematic exploration and development projects. It includes the Salta Lithium Brine Project in the prolific lithium triangle in the Salta Province in Argentina, the Eyre Peninsula Kaolin-Halloysite Project, strategically located on the Eyre Peninsula in South Australia, and the Musgrave Nickel-Copper-Cobalt-PGE Project in the Musgrave Province in northern South Australia. The company also holds the Santa Ines Copper-Gold Project in Argentina, located in the same geological setting as BHP's world-class, nearby Escondida Copper-Gold Mine in Chile.

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