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.
Freeport-McMoRan Inc FCX
- On Jan. 23, Freeport-McMoRan reported fourth-quarter FY24 results. Revenue stood at $5.72 billion, missing the consensus of $5.99 billion. Copper sales totaled 1.0 billion pounds, which was slightly above the October 2024 estimate. Copper sales declined year-over-year owing to lower ore grades and the timing of shipments at PT-FI. The company’ stock fell around 6% over the past five days and has a 52-week low of $36.26.
- RSI Value: 28.9
- FCX Price Action: Shares of Freeport-McMoRan fell 1.8% to close at $37.81 on Friday.
- Benzinga Pro’s real-time newsfeed alerted to latest FCX news.
Northern Technologies International Corporation NTIC
- On Jan. 8, the company said consolidated net sales increased 5.7% to a first quarter record of $21,338,000. “NTIC’s record first quarter consolidated sales were driven by Natur-Tec® all-time record quarterly sales, as well as, stable ZERUST® oil and gas and ZERUST® industrial sales. Furthermore, NTIC China enjoyed its highest quarterly sales in nearly three years. We are cautiously optimistic that global trends within our ZERUST® industrial markets will continue improving throughout fiscal year 2025,” said G. Patrick Lynch, President and CEO of NTIC. The company’s stock fell around 8% over the past five days and has a 52-week low of $11.70.
- RSI Value: 26.8
- NTIC Price Action: Shares of Northern Technologies International fell 1.5% to close at $12.06 on Friday.
- Benzinga Pro’s charting tool helped identify the trend in NTIC stock.
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