Balamara Resources (FRA:CDU) Momentum Rank : 0 (As of Jun. 09, 2024)

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What is Balamara Resources Momentum Rank?

Balamara Resources 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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Balamara Resources (FRA:CDU) Business Description

Industry

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Traded in Other Exchanges

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Address

Website

http://www.balamara.com.au

Balamara Resources Ltd formerly known as Sultan Corporation Limited was incorporated in New South Wales on 16 August 1993 under the name of Asia-Pacific Minerals NL and on 21 November 1993 it changed its name to Caledonian Pacific Minerals NL. On 13 May, 2000 the Company changed its name again to Quadtel NL. The name of the Company was changed once more to Wytomic Limited on 17 February, 2005. The Company is engaged in exploration of mineral resources and reserves, primarily in Central Europe. It acquires assets at low cost with significant upside potential and develops them to a pre-production status. The Company's projects are located in Poland, Montenegro, Bosnia and NSW Australia. It operates in three reportable segments: Exploration Balkans region, Exploration Poland, and Exploration Australia.

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