Harmony Gold Mining Co (BUE:HMY) Momentum Rank : 0 (As of Apr. 29, 2024)

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What is Harmony Gold Mining Co Momentum Rank?

Harmony Gold Mining Co 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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Harmony Gold Mining Co (BUE:HMY) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Harmony Gold Mining Co Ltd (BUE:HMY) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

HAR:South Africa HGMCF:USA HMY:USA HAM1:Germany

Address

Corner Main Reef Road and Ward Avenue, Randfontein Office Park, Randfontein, ZAF, 1759

Website

https://www.harmony.co.za

Harmony Gold Mining Co Ltd is a gold mining and exploration company having operations in South Africa and Papua New Guinea (PNG). Its projects include Bambanani, Joel, Masimong, Phakisa, Target 1, Tshepong, Unisel, Doornkop, and Kusasalethu. The group's segments are Tshepong Operations, Bambanani, Joel, Doornkop, Moab Khotsong, Hidden Valley, Target 1, Kusasalethu, Masimong, Unisel, and all other surface operations.