PT Tirta Mahakam Resources Tbk (ISX:TIRT) Momentum Rank : 6 (As of Jun. 24, 2024)

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What is PT Tirta Mahakam Resources Tbk Momentum Rank?

PT Tirta Mahakam Resources Tbk has the Momentum Rank of 6.

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 PT Tirta Mahakam Resources Tbk's Momentum Rank

For the Lumber & Wood Production subindustry, PT Tirta Mahakam Resources Tbk'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.

PT Tirta Mahakam Resources Tbk's Momentum Rank Distribution in the Forest Products Industry

For the Forest Products industry and Basic Materials sector, PT Tirta Mahakam Resources Tbk's Momentum Rank distribution charts can be found below:

* The bar in red indicates where PT Tirta Mahakam Resources Tbk's Momentum Rank falls into.

PT Tirta Mahakam Resources Tbk Momentum Rank Related Terms

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PT Tirta Mahakam Resources Tbk (ISX:TIRT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Forest Products » PT Tirta Mahakam Resources Tbk (ISX:TIRT) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Jalan Let. Jend Soepeno Number 34 , Arteri Permata Hijau, Gapura Prima Office Tower (The Bellezza) 20th Floor, Jakarta Selatan, Jakarta, IDN, 12210

Website

https://www.tirtamahakam.com

PT Tirta Mahakam Resources Tbk is an Indonesia-based wood manufacturing company. The company is engaged in the manufacturing and selling of plywood, hardwood, and related wood products. The company's main products are floor base, general plywood, concrete panel, structure panel, bare core, blockboard, polyester plywood, and polyester blockboard. The products offered by the company are distributed within the domestic market and to overseas markets such as Jepang, India, Taiwan, and other countries.

PT Tirta Mahakam Resources Tbk (ISX:TIRT) Headlines

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