Red Metal (ASX:RDM) Momentum Rank : 3 (As of Jun. 21, 2024)

View and export this data going back to 2003. Start your Free Trial

What is Red Metal Momentum Rank?

Red Metal 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 Red Metal's Momentum Rank

For the Other Industrial Metals & Mining subindustry, Red Metal'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.

Red Metal's Momentum Rank Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Red Metal's Momentum Rank falls into.

Red Metal Momentum Rank Related Terms

Thank you for viewing the detailed overview of Red Metal's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

Red Metal (ASX:RDM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Red Metal Ltd (ASX:RDM) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

323 Castlereagh Street, Level 15, Sydney, NSW, AUS, 2000

Website

https://www.redmetal.com.au

Red Metal Ltd is a minerals exploration company. It explores for copper, nickel, uranium, zircon-titanium, silver, zinc, gold, and potash deposits. It owns projects including Punt Hill, and Pernatty Lagoon Project, Pardoo Nickel-Copper-PGE, Corkwood Project, Maronan Project and among others. It operates in the mining industry in Australia.

Red Metal (ASX:RDM) Headlines

No Headlines