Top 3 Materials Stocks That Could Lead To Your Biggest Gains In Q3

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, according to Benzinga Pro.

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

Nova Minerals (NYSE:NVA)

• On July 15, Nova Materials announced it has priced a $11.1 million public offering. The company's stock fell around 30% over the past month and has a 52-week low of $4.35.
• RSI Value: 27.7
• NVA Price Action: Shares of Nova Minerals fell 1% to close at $9.16 on Wednesday.

Namib Minerals (NASDAQ:NAMM)       

• On June 5, Namib Minerals and Hennessy Capital Investment Corp. VI announced the closing of business combination. The company's stock fell around 51% over the past month and has a 52-week low of $6.65.
• RSI Value: 22.6
• NAMM Price Action: Shares of Namib Minerals fell 0.5% to close at $7.87 on Wednesday.
• Edge Stock Ratings: Value at 17.34.

Royal Gold Inc (NASDAQ:RGLD)

• On July 8, the company reported updates for it's the second-quarter stream segment sales and details for its release of the second quarter. The company's stock fell around 12% over the past month and has a 52-week low of $125.68.
• RSI Value: 28.8
• RGLD Ltd Price Action: Shares of Royal Gold fell 0.1% to close at $157.67 on Wednesday.
• Benzinga Pro’s signals feature notified of a potential breakout in RGLD shares.

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

Read This Next:

• Jim Cramer ‘Takes A Pass’ On This Money-Losing Utilities Stock

Photo via Shutterstock