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Basic Materials Stocks On The Rise With Help From 5 Stocks

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

One out of the three major indices are trading lower today with the Dow Jones Industrial Average (^DJI) trading up 15 points (0.1%) at 14,565 as of Thursday, April 4, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,512 issues advancing vs. 1,354 declining with 153 unchanged.

The Basic Materials sector currently sits down 0.1% versus the S&P 500, which is up 0.1%. Top gainers within the sector include New Gold (NGD), up 4.9%, Yamana Gold (AUY), up 2.1%, Anglogold Ashanti (AU), up 2.2%, Barrick Gold Corporation (ABX), up 1.4% and Monsanto Company (MON), up 1.3%. On the negative front, top decliners within the sector include Suncor Energy (SU), down 2.7%, Cenovus Energy (CVE), down 2.6%, Tenaris (TS), down 1.9%, Canadian Natural Resources (CNQ), down 1.8% and National Oilwell Varco (NOV), down 1.4%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector higher today:

5. Silver Wheaton Corporation (SLW) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Silver Wheaton Corporation is up $0.46 (1.6%) to $28.81 on heavy volume Thus far, 3.4 million shares of Silver Wheaton Corporation exchanged hands as compared to its average daily volume of 3.6 million shares. The stock has ranged in price between $27.94-$28.88 after having opened the day at $28.16 as compared to the previous trading day's close of $28.35.

Silver Wheaton Corp., a mining company, together with its subsidiaries, operates as a silver streaming company worldwide. Silver Wheaton Corporation has a market cap of $10.5 billion and is part of the metals & mining industry. The company has a P/E ratio of 17.9, above the S&P 500 P/E ratio of 17.7. Shares are down 21.4% year to date as of the close of trading on Wednesday. Currently there are 11 analysts that rate Silver Wheaton Corporation a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Silver Wheaton Corporation 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, growth in earnings per share, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Silver Wheaton Corporation Ratings Report now.

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