Top 5 Materials Stocks That Are Preparing To Pump This Month

The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Royal Gold, Inc. RGLD

  • Royal Gold's subsidiary RG Royalties has entered into a binding commitment letter with ACG Acquisition Company to acquire new royalty interests on the producing Serrote and Santa Rita mines in Brazil for $250 million. The company’s stock has a 52-week low of $84.54 .
  • RSI Value: 28.86
  • RGLD Price Action: Shares of Royal Gold rose 0.1% to close at $114.01 on Friday.

AngloGold Ashanti Limited AU

  • The company’s stock dropped 4% over the past month. It has a 52-week low of $11.94.
  • RSI Value: 29.79
  • AU Price Action: Shares of AngloGold Ashanti fell 0.5% to close at $22.54 on Friday.

Hecla Mining Company HL

  • Hecla Mining reported first-quarter 2023 sales of $199.5 million, up from $186.5 million a year ago, beating the consensus of $198.4 million. "As we continue our growth in silver production, silver revenues are now exceeding gold revenues for the second consecutive quarter," said Phillips S. Baker Jr., President and CEO. The company’s stock has a 52-week low of $3.41.
  • RSI Value: 29.52
  • HL Price Action: Shares of Hecla Mining fell 1.6% to close at $4.98 on Friday.

Ashland Inc. ASH

  • Ashland increased quarterly dividend from $0.335 to $0.385 per share and announced $100 million share repurchase program. The company’s 52-week low is $81.82.
  • RSI Value: 25.15
  • ASH Price Action: Shares of Ashland fell 2.1% to close at $81.95 on Friday.

The Scotts Miracle-Gro Company SMG

  • The Scotts Miracle-Gro released results for its fiscal second quarter ended April 1, 2023, revealing company-wide sales decreased 9% to $1.53 billion. “Fiscal 2023 is a testament to the powerful franchise of our core lawn and garden business,” said Jim Hagedorn, chairman and CEO. “Our work has been marked by record retailer shipments, POS lifts and reliable cash generation. We are de-levering as planned and enhancing our ability to invest in growth and long-term shareholder value.” The company has a 52-week low of $39.06.
  • RSI Value: 29.64
  • SMG Price Action: Shares of Scotts Miracle-Gro fell 2% to close at $57.40 on Friday.


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