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POT, RIG And PBR, 3 Basic Materials Stocks Pushing The Sector Lower

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

One out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 16 points (0.1%) at 16,733 as of Monday, June 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,394 issues advancing vs. 1,564 declining with 187 unchanged.

The Basic Materials sector currently sits down 0.3% versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include Oil States International ( OIS), down 43.0%, National Oilwell Varco ( NOV), down 9.6%, Petroleo Brasileiro SA Petrobras ( PBR.A), down 2.8%, EQT ( EQT), down 1.8% and ConocoPhillips ( COP), down 0.6%. Top gainers within the sector include Air Products & Chemicals ( APD), up 1.6%, Energy Transfer Equity ( ETE), up 1.4%, China Petroleum & Chemical ( SNP), up 1.4%, Praxair ( PX), up 1.4% and Spectra Energy ( SE), up 1.3%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. Potash Corp of Saskatchewan ( POT) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Potash Corp of Saskatchewan is down $0.43 (-1.2%) to $35.89 on average volume. Thus far, 2.0 million shares of Potash Corp of Saskatchewan exchanged hands as compared to its average daily volume of 4.8 million shares. The stock has ranged in price between $35.81-$36.42 after having opened the day at $36.18 as compared to the previous trading day's close of $36.32.

Potash Corporation of Saskatchewan Inc., together with its subsidiaries, produces and sells fertilizers and related industrial and feed products worldwide. It mines and produces potash, which is primarily used as fertilizer. Potash Corp of Saskatchewan has a market cap of $30.8 billion and is part of the chemicals industry. Shares are up 10.2% year-to-date as of the close of trading on Friday. Currently there are 5 analysts that rate Potash Corp of Saskatchewan a buy, 1 analyst rates it a sell, and 12 rate it a hold.

TheStreet Ratings rates Potash Corp of Saskatchewan as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. Get the full Potash Corp of Saskatchewan 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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