NEW YORK (TheStreet) - The metals and mining sector experienced an advance-to-decliners ratio of six to 73, despite positive trends in commodity prices and strong quarterly results. With investors becoming wary of deepening U.S. debt crisis, market sentiment was subdued the past week. Aluminum Corporation of China (ACH) and Gold Fields (GFI) were among the six gainers over the week.
Meanwhile, the S&P 500 Metals and Mining Index slumped 5.9%.
Despite strong quarterly earnings recorded and favorable commodity prices past week, stocks like Patriot Coal (PCX) and Harsco (HSC) slumped 24% and 13.6% respectively. Among others, coal producers like Westmoreland Coal (WLB) and James River Coal (JRCC) shed 12.7% and 12.5%, respectively.
Below, the stocks are stacked in the order of losers to gainers.>> Keep the stock market at your fingertips with TheStreet's iPad app. 5. AK Steel Holding (AKS), through its wholly owned subsidiary, engages in the production of flat-rolled carbon, stainless and electrical steels and tubular products. The company's operations include seven steelmaking and finishing plants located in Indiana, Kentucky, Ohio and Pennsylvania. The company's operations include European trading companies that buy and sell steel, steel products and other materials. The stock eroded 23.1% value during the week. Past week, Moody's Investors Service assigned its junk-level ratings on AKS Steel and placed it on watch for a possible downgrade, driven by challenges associated with the slow and bumpy recovery in the steel industry. Furthermore, the company believes that stiff cost pressures, especially in iron ore and coking coal, has forced the rating agency to affirm a Ba2 rating, which is two levels into junk. For the third quarter of 2011, the company estimates average selling price almost 1% lower, while raw material costs could surpass 2011 second-quarter levels. With these drawbacks, the company has lowered its 2011 third-quarter operating profit to $15 per ton from $46 per ton prior quarter. However, on a positive note, of the 16 analysts covering the stock, 50% suggest a buy and 32% recommend a hold. On average, analysts estimate 36.3% upside to $16.56 in value from current levels.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV