Commodity stocks look all ready for a breakout, seeing the biggest spikes in their Growth scores in Benzinga’s Edge Stock Rankings over the past week.
Top 4 Commodities Stocks With A Big Jump In Growth Metrics
In Benzinga’s Edge Stock Rankings, the Growth score is assigned based on the pace of expansion in earnings and revenue historically, with a focus on both longer-term trends as well as recent performances.
Over the past week, we’ve seen big improvements in the Growth metrics of the following commodities stocks and ETFs.
1. Sprott Physical Platinum And Palladium Trust
As the name suggests, the Sprott Physical Platinum and Palladium Trust SPPP is an ETF that invests all of its assets in physical platinum and palladium.
The fund has seen a big spike in its Growth scores, going from 24.43 to 99.61 within a week, as precious metals such as platinum and palladium receive interest from investors looking for a safe haven to park their funds, while hedging against inflation.
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While the fund is up 32% year-to-date, and while it has witnessed a pullback in recent weeks, broad-based tailwinds continue to align in its favor.
In addition to strong Growth metrics, the fund scores high on Momentum, and has a favorable price trend in the medium and long terms. Click here for more insights into the fund.
2. Artemis Gold Inc.
Canadian miner, Artemis Gold Inc. ARTGF, is up 66.21 points in Edge rankings over the past week, from 33.44 to 99.65.
This doesn’t come as any surprise, considering the rising price and unrelenting demand for gold, but the key catalyst for this spike is also the company’s transition from being a mere developer to a full-fledged producer of gold.
The stock is up 99.36% year-to-date, and continues to trend upward, tracking the unrelenting rally of the yellow metal over the past couple of months.
3. First Majestic Silver Corp.
Another Canadian mining company that operates in the United States and Mexico, First Majestic Silver Corp. AG saw its Growth percentile score jump from 21.06 to 87.18 in just a week.
The company is currently reaping the rewards for record outputs, during a period of rising global silver prices, leading the stock to rally 46.39% year-to-date.
According to Benzinga’s Edge Stock Rankings, First Majestic Silver scores high on Momentum and Growth, while having a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock.
4. Prairie Operating Co.
Prairie Operating Co. PROP is an independent energy company that hasn’t had the best of years, with the stock down 66.72% year-to-date. Yet, its Growth score has spiked by a monumental 64.41 points, reaching 99.85, up from 35.44 just a week ago.
Its turnaround can be attributed to an acquisition in late-March, when it closed a $600 million deal with Bayswater to acquire its DJ Basin assets. This gave it access to 25,700 barrels of oil equivalent per day, alongside a decade of drilling inventory.
The stock scores high on Growth and Momentum in Benzinga rankings, but has an unfavorable price trend in the short, medium and long terms. Click here to learn more.
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