Magnum Mining and Exploration (Magnum Mining and Exploration) Momentum Rank : 0 (As of Jun. 05, 2024)

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What is Magnum Mining and Exploration Momentum Rank?

Magnum Mining and Exploration 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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Magnum Mining and Exploration (Magnum Mining and Exploration) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Magnum Mining and Exploration Ltd (OTCPK:MGUFF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

MGU:Australia

Address

52 Phillip Street, Level 11, Sydney, NSW, AUS, 2000

Website

https://www.mmel.com.au

Magnum Mining and Exploration Ltd is a mining and exploration company. Its geographical segments include Australia, the United States, and South Africa. The company's projects include Buena Vista Magnetite Project and HIsmelt Green Pig Iron Project.

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