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GRRLF (Grange Resources) Momentum Rank : 2 (As of Dec. 14, 2024)


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What is Grange Resources Momentum Rank?

Grange Resources has the Momentum Rank of 2.

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 Grange Resources's Momentum Rank

For the Steel subindustry, Grange Resources'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.

Grange Resources's Momentum Rank Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Grange Resources's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Grange Resources's Momentum Rank falls into.


Grange Resources Momentum Rank Related Terms

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Grange Resources Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Grange Resources Ltd (OTCPK:GRRLF) » Definitions » Momentum Rank
Comparable Companies
ASX:BIS ASX:FEX ASX:MGX ASX:IRD ASX:GWR ASX:M4M ASX:EQN ASX:EQX ASX:PLG ASX:BCI NUE BOM:500228 STLD NSE:TATASTEEL TSE:5401 SHSE:600019 XAMS:MT RS XKRX:005490 SHSE:600010
Traded in Other Exchanges
GRR:Germany GRR:Australia
Address
34A Alexander Street, Burnie, TAS, AUS, 7320
Website
https://www.grangeresources.com.au
Grange Resources Ltd is engaged in the exploration, evaluation, and development of mineral resources and iron ore mining operations. The Group has one reportable segment, being the exploration, evaluation and development of mineral resources and iron ore mining operations.