Red Hill Minerals (ASX:RHI) Momentum Rank : 10 (As of May. 10, 2024)

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What is Red Hill Minerals Momentum Rank?

Red Hill Minerals has the Momentum Rank of 10.

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 Red Hill Minerals's Momentum Rank

For the Other Industrial Metals & Mining subindustry, Red Hill Minerals'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.

Red Hill Minerals's Momentum Rank Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Red Hill Minerals's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Red Hill Minerals's Momentum Rank falls into.

Red Hill Minerals Momentum Rank Related Terms

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Red Hill Minerals (ASX:RHI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Red Hill Minerals Ltd (ASX:RHI) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

9 Havelock Street, Level 2, West Perth, Perth, WA, AUS, 6005

Website

https://www.redhillminerals.com.au

Red Hill Minerals Ltd is an exploration company that focuses on the exploration for non-ferrous minerals over the RHIOJV tenements in the Western Pilbara region of Western Australia. Exploration targets include precious (gold) and battery metals. The company is also progressing the development of its Pannawonica Channel Iron Deposits (CID) and rock quarrying opportunities from its Three Peaks project. Its projects portfolio includes Red Hill Minerals West Pilbara Project, Mineral Resources Ltd Ashburton Hub - Royalty, Pannawonica Iron Ore, and Three Peaks Hard Rock Deposit.