Top 5 Materials Stocks That Are Preparing To Pump This Month
Portfolio Pulse from Lisa Levin
The article lists the top 5 oversold materials stocks with RSI values near or below 30, including Royal Gold, AngloGold Ashanti, Hecla Mining, Ashland, and Scotts Miracle-Gro. These stocks present an opportunity to buy into undervalued companies.
June 26, 2023 | 12:53 pm
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POSITIVE IMPACT
Ashland increased its quarterly dividend and announced a $100 million share repurchase program. RSI value at 25.15, stock price fell 2.1% to close at $81.95.
The increased dividend and share repurchase program could make the stock more attractive to investors, potentially leading to a short-term price increase. The stock's RSI value also indicates it is oversold.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
AngloGold Ashanti's stock dropped 4% over the past month, with an RSI value of 29.79. Shares fell 0.5% to close at $22.54.
The stock's RSI value indicates it is oversold, which could attract bargain hunters and potentially lead to a short-term price increase.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Hecla Mining reported Q1 2023 sales of $199.5 million, beating consensus. RSI value at 29.52, stock price fell 1.6% to close at $4.98.
The better-than-expected sales results could attract investors, potentially leading to a short-term price increase. The stock's RSI value also indicates it is oversold.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Royal Gold's subsidiary RG Royalties acquires new royalty interests in Brazil for $250 million. RSI value at 28.86, stock price rose 0.1% to close at $114.01.
The acquisition of new royalty interests in Brazil could potentially increase Royal Gold's revenue and profitability, making the stock more attractive to investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Scotts Miracle-Gro reported Q2 2023 sales decreased 9% to $1.53 billion. RSI value at 29.64, stock price fell 2% to close at $57.40.
The decrease in sales could be a concern for investors, but the stock's RSI value indicates it is oversold, which could attract bargain hunters and potentially lead to a short-term price increase.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100