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East Africa Metals (East Africa Metals) Momentum Rank : 4 (As of Apr. 30, 2024)


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What is East Africa Metals Momentum Rank?

East Africa Metals has the Momentum Rank of 4.

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 East Africa Metals's Momentum Rank

For the Other Industrial Metals & Mining subindustry, East Africa Metals'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.


East Africa Metals's Momentum Rank Distribution in the Metals & Mining Industry

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

* The bar in red indicates where East Africa Metals's Momentum Rank falls into.



East Africa Metals Momentum Rank Related Terms

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East Africa Metals (East Africa Metals) Business Description

Traded in Other Exchanges
Address
777 Dunsmuir Street, 17th Floor, Vancouver, BC, CAN, V7Y 1K4
East Africa Metals Inc is a mineral exploration company focused on the identification, acquisition, exploration, development, and/or sale of base and precious mineral resource properties in Ethiopia and Tanzania. The company's mineral properties consist of one project in Ethiopia, the Harvest Project, Adyabo Project, and one project in Tanzania, the Handeni and Other Properties. The geographical segments of the company include Canada, Tanzania, and Ethiopia. It has one reportable segment Exploration and Development of Mineral Properties.

East Africa Metals (East Africa Metals) Headlines

From GuruFocus

East Africa Metals Extends Closing of Private Placement

By GlobeNewswire GlobeNewswire 03-28-2019

East Africa Metals Private Placement

By GlobeNewswire GlobeNewswire 02-12-2019

East Africa Receives Final Payment in Adyabo Transaction

By PRNewswire PRNewswire 12-02-2019

East Africa Metals Closes Tibet Huayu Development Financing

By GlobeNewswire GlobeNewswire 08-23-2019

East Africa Metals Announces a Second Extension to Related Party Loan

By GlobeNewswire GlobeNewswire 06-02-2018

East Africa Metals Provides Corporate Update

By GlobeNewswire GlobeNewswire 05-27-2019

East Africa Grants Options

By GlobeNewswire GlobeNewswire 06-30-2018