4 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 model

All three major indices are trading up today with the Dow Jones Industrial Average (^DJI) trading up 42 points (0.3%) at 14,338 as of Thursday, March 7, 2013, 11:50 AM ET. The NYSE advances/declines ratio sits at 1,674 issues advancing vs. 1,197 declining with 153 unchanged.

The Basic Materials sector currently sits up 0.9% versus the S&P 500, which is up 0.2%. A company within the sector that fell today was Valero Energy Corporation (VLO), up 2.8%. Top gainers within the sector include Petroleo Brasileiro SA Petrobras (PBR.A), up 4.5%, Encana (ECA), up 4.0%, Canadian Natural Resources (CNQ), up 3.0%, EOG Resources (EOG), up 1.5% and Eni SpA (E), up 1.3%.

TheStreet Ratings group would like to highlight 4 stocks pushing the sector lower today:

4. Southern Copper Corporation (SCCO) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Southern Copper Corporation is down $0.41 (-1.1%) to $37.37 on light volume Thus far, 557,745 shares of Southern Copper Corporation exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $37.36-$38.14 after having opened the day at $37.80 as compared to the previous trading day's close of $37.78.

Southern Copper Corporation engages in mining, exploring, producing, smelting, and refining copper and other minerals in Peru, Mexico, and Chile. Southern Copper Corporation has a market cap of $31.9 billion and is part of the metals & mining industry. The company has a P/E ratio of 16.5, below the S&P 500 P/E ratio of 17.7. Shares are down 0.2% year to date as of the close of trading on Wednesday. Currently there are no analysts that rate Southern Copper Corporation a buy, 3 analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Southern Copper Corporation as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Southern Copper Corporation Ratings Report now.

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