5 Stocks Pushing The Basic Materials Sector Lower
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our modelAll three major indices are trading down today with the Dow Jones Industrial Average (^DJI) trading down 46 points (-0.4%) at 12,524 as of Thursday, Nov. 15, 2012, 12:05 PM ET. The NYSE advances/declines ratio sits at 826 issues advancing vs. 2,151 declining with 91 unchanged.The Basic Materials sector currently sits down 0.4% versus the S&P 500, which is down 0.5%. On the negative front, top decliners within the sector include Targa Resources Partners (NGLS), down 7.3%, Williams Partners (WPZ), down 4.3%, Energy Transfer Equity (ETE), down 3.2%, Yamana Gold (AUY), down 2.3% and Kinder Morgan Energy Partners (KMP), down 3.0%. Top gainers within the sector include Emerald Oil (EOX), up 218.5%, Nexen (NXY), up 1.9%, Anadarko Petroleum (APC), up 1.1%, Ecopetrol S.A (EC), up 1.0% and Halliburton Company (HAL), up 1.1%.TheStreet Ratings group would like to highlight 5 stocks pushing the sector lower today:5. Iamgold (IAG) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Iamgold is down $0.59 (-4.9%) to $11.38 on heavy volume Thus far, 2.7 million shares of Iamgold exchanged hands as compared to its average daily volume of 3.0 million shares. The stock has ranged in price between $11.36-$12.03 after having opened the day at $11.97 as compared to the previous trading day's close of $11.97. IAMGOLD Corporation, a mid-tier gold mining company, engages in the exploration, development, and production of mineral resource properties. It primarily explores for gold, silver, zinc, copper, niobium, diamonds, and other metals. Iamgold has a market cap of $5.6 billion and is part of the metals & mining industry. The company has a P/E ratio of 15.6, below the S&P 500 P/E ratio of 17.7. Shares are down 6.2% year to date as of the close of trading on Wednesday. Currently there are 7 analysts that rate Iamgold a buy, no analysts rate it a sell, and 6 rate it a hold.TheStreet Ratings rates Iamgold as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Iamgold Ratings Report now.
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 Plus 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