5 Stocks Pushing The Basic Materials Sector Downward
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 up today with the Dow Jones Industrial Average (^DJI) trading up 159 points (1.1%) at 15,200 as of Friday, June 7, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 2,044 issues advancing vs. 871 declining with 122 unchanged.The Basic Materials sector currently is unchanged today versus the S&P 500, which is up 1.0%. On the negative front, top decliners within the sector include Goldcorp (GG), down 4.13, Barrick Gold Corporation (ABX), down 3.69, Newmont Mining Corporation (NEM), down 2.24, Petroleo Brasileiro SA Petrobras (PBR.A), down 2.12 and LyondellBasell Industries (LYB), down 1.96. Top gainers within the sector include Southwestern Energy Company (SWN), up 2.9%, Continental Resources (CLR), up 2.7%, Cabot Oil & Gas Corporation (COG), up 2.6%, Monsanto Company (MON), up 2.5% and PPG Industries (PPG), up 2.4%.TheStreet Ratings group would like to highlight 5 stocks pushing the sector lower today:5. Eldorado Gold (EGO) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Eldorado Gold is down $0.40 (-4.8%) to $7.86 on average volume Thus far, 3.4 million shares of Eldorado Gold exchanged hands as compared to its average daily volume of 5.7 million shares. The stock has ranged in price between $7.83-$8.04 after having opened the day at $8.02 as compared to the previous trading day's close of $8.26. Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, mining, and production of gold properties in Turkey, China, Greece, Brazil, and Romania. The company also explores for iron, silver, lead, zinc, and copper ores. Eldorado Gold has a market cap of $5.8 billion and is part of the metals & mining industry. The company has a P/E ratio of 29.8, above the S&P 500 P/E ratio of 17.7. Shares are down 35.9% year to date as of the close of trading on Thursday. Currently there are 7 analysts that rate Eldorado Gold a buy, no analysts rate it a sell, and 3 rate it a hold.TheStreet Ratings rates Eldorado Gold as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income. Get the full Eldorado Gold Ratings Report now.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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