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Tanami Gold NL (ASX:TAM) Momentum Rank : 0 (As of Jun. 23, 2024)


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What is Tanami Gold NL Momentum Rank?

Tanami Gold NL 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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Tanami Gold NL (ASX:TAM) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Tanami Gold NL (ASX:TAM) » Definitions » Momentum Rank
Comparable Companies
ASX:FML ASX:POL ASX:TTM ASX:HRN ASX:BEZ ASX:MEK ASX:MZZ ASX:YRL ASX:TOR ASX:WWI SHSE:601899 NEM TSX:AEM TSX:ABX TSX:WPM TSX:FNV SHSE:600547 MIC:PLZL JSE:GFI ASX:NST
Traded in Other Exchanges
N/A
Address
39 Mends Street, Unit 202, Level 2, Echelon, South Perth, Perth, WA, AUS, 6151
Website
https://www.tanami.com.au
Tanami Gold NL is a mineral exploration company that is engaged in gold mining operations. Its principal activity is to develop its Central Tanami Project in the Tanami Desert in the Northern Territory.

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