Four leading precious metals stocks have surged into the top 10th percentile of the latest market momentum rankings, as shifting global demand boosts gold prices and gives miners a competitive edge.
Their standout percentile improvements highlight a robust trend in the sector, combining strong price movement with volatile upward action relative to peers.
Momentum, as defined in the Benzinga Edge stock ranking framework, is the relative strength of a stock based on multi-timeframe price action and volatility—ranked as a percentile against all other stocks.
Newmont Corp. (NYSE:NEM), McEwen Inc. (NYSE:MUX), New Pacific Metals Corp. (NYSE:NEWP), and Hecla Mining Co. (NYSE:HL) have not only benefited from gold's rally but have also outperformed most competitors in the broader materials sector.
See Also: 4 Asset Management Fund Stocks Shine As Their Growth Rankings Jump This Week
Stocks entering the top 10% momentum rankings have displayed superior price movement, typically over several months or quarters, often accompanied by high trading volume and volatility.
Both broader commodity price trends and individual successes in resource development, production, or financial management drive this percentile jump.
Gold Spot US Dollar rose 0.34% to hover around $3,599.14 per ounce. Its last record high stood at $3,600.33 per ounce.
It was up 39.69% over a year and 23.65% in the last six months.
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and the Nasdaq 100 index, respectively, ended the day mixed on Friday. The SPY was down 0.29% at $647.24, while the QQQ advanced 0.14 to $576.06, according to Benzinga Pro data.
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
Contact Us
Contact Number : +852 3852 8500Service Email : service@webull.hkBusiness Cooperation : marketinghk@webull.hkEnglish