Sayona Mining (ASX:SYAOD) Momentum Rank : 6 (As of Jun. 23, 2024)

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What is Sayona Mining Momentum Rank?

Sayona Mining has the Momentum Rank of 6.

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 Sayona Mining's Momentum Rank

For the Other Industrial Metals & Mining subindustry, Sayona Mining'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.

Sayona Mining's Momentum Rank Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Sayona Mining's Momentum Rank falls into.

Sayona Mining Momentum Rank Related Terms

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Sayona Mining (ASX:SYAOD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Sayona Mining Ltd (ASX:SYAOD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

SYAXF:USA DML:Germany SYA:Australia

Address

283 Given Terrace, Unit 68, Paddington, QLD, AUS, 4064

Website

https://www.sayonamining.com.au

Sayona Mining Ltd is a mineral exploration and development company. The principal activity of the company is the identification, acquisition and evaluation of mineral exploration assets, focusing on lithium and graphite. The company's primary focus is the development of the advanced-stage Authier lithium project in Quebec, Canada. It also holds interests in East Kimberley Graphite Project and West Australian Lithium Project.

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