Top 3 Materials Stocks That Are Preparing To Pump In Q4

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.

SunCoke Energy Inc (NYSE:SXC)

On Nov. 4, SunCoke Energy posted better-than-expected quarterly earnings. “Our third quarter Consolidated Adjusted EBITDA of $59.1 million included two months of results from the addition of Phoenix Global. While the Domestic Coke segment continued to be impacted by the unfavorable mix of contract and spot coke sales, our new Industrial Services segment, which includes Phoenix Global and our logistics business, operated well during the quarter. Phoenix performed in line with our expectations, but volumes at our logistics terminals did not recover to the degree we previously expected due to persistent weak market conditions. Additionally, we have extended our cokemaking contract with U.S. Steel at Granite City through the end of 2025,” said Katherine Gates, President and CEO of SunCoke Energy, Inc. The company's stock fell around 21% over the past month and has a 52-week low of $6.62.
RSI Value: 29.7
SXC Price Action: Shares of SunCoke Energy fell 4.5% to close at $6.64 on Thursday.
Edge Stock Ratings: 9.44 Momentum score with Value at 90.09.

Rayonier Advanced Materials Inc (NYSE:RYAM)

On Nov. 4, RYAM posted weaker-than-expected quarterly results. “Our third quarter reflects the strength of our core business and the resilience of our teams executing through a dynamic backdrop,” said De Lyle Bloomquist, President and CEO of RYAM. The company's stock fell around 22% over the past month and has a 52-week low of $3.35.
RSI Value: 29.5
RYAM Price Action: Shares of Rayonier Advanced Materials rose 1% to close at $6.01 on Thursday.
Benzinga Pro’s charting tool helped identify the trend in RYAM stock.

Chemours Co (NYSE:CC)

On Nov. 6, Chemours posted downbeat earnings for the third quarter. “Our consolidated results exceeded our expectations for the quarter, driven by continued strong demand for Opteon™ products, paired with a focus on enhancing operational excellence, driving stability in our operations to resolve disruptions, and ensure improved performance going forward,” said Denise Dignam, Chemours President and CEO. The company's stock fell around 26% over the past month and has a 52-week low of $9.13.
RSI Value: 28.8
CC Price Action: Shares of Chemours fell 2.6% to close at $11.74 on Thursday.
Benzinga Pro’s signals feature notified of a potential breakout in CC shares.