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Zanaga Iron Ore Co (STU:6ZA) Momentum Rank : 0 (As of May. 26, 2024)


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What is Zanaga Iron Ore Co Momentum Rank?

Zanaga Iron Ore Co 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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Zanaga Iron Ore Co (STU:6ZA) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Zanaga Iron Ore Co Ltd (STU:6ZA) » Definitions » Momentum Rank
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Traded in Other Exchanges
ZIOC.GB:UK ZIOC:UK
Address
Wickhams Cay II, Coastal Building, P.O. Box 2221, 2nd Floor, Tortola, Road Town, VGB
Website
https://www.zanagairon.com
Zanaga Iron Ore Co Ltd is an iron ore exploration and development company. The company holds an interest in the Zanaga Iron Ore Project located in the Republic of Congo which is also known as Congo-Brazzaville. Its long-term objective is to maximize the value of its sole asset and the Project which is currently focused on managing, developing, and constructing a world-class iron ore asset capable of mining, processing, transporting, and exporting iron ore at full production.

Zanaga Iron Ore Co (STU:6ZA) Headlines

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