3 Basic Materials Stocks Dragging The Sector Down

TheStreet highlights 3 stocks pushing the basic materials sector lower today.
By TheStreet Wire ,

All three major indices are trading down today with the

Dow Jones Industrial Average

(

^DJI

) trading down 11 points (-0.1%) at 17,856 as of Thursday, Nov. 5, 2015, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,091 issues advancing vs. 1,846 declining with 161 unchanged.

The Basic Materials sector currently sits down 1.1% versus the S&P 500, which is down 0.3%. On the negative front, top decliners within the sector include

Albemarle

(

ALB

), down 11.1%,

Baker Hughes

(

BHI

), down 3.0%,

Kinder Morgan

(

KMI

), down 2.1%,

Enbridge

(

ENB

), down 2.0% and

BP

(

BP

), down 1.8%. Top gainers within the sector include

Canadian Natural Resources

(

CNQ

), up 6.3%,

Continental Resources

(

CLR

), up 4.5%,

Hess

(

HES

), up 5.2%,

Valero Energy

(

VLO

), up 1.4% and

ConocoPhillips

(

COP

), up 0.6%.

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

3.

Newmont Mining

(

NEM

) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Newmont Mining is down $1.11 (-5.8%) to $17.90 on average volume. Thus far, 4.8 million shares of Newmont Mining exchanged hands as compared to its average daily volume of 8.7 million shares. The stock has ranged in price between $17.85-$18.96 after having opened the day at $18.94 as compared to the previous trading day's close of $19.01.

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Newmont Mining Corporation operates in the mining industry. It primarily acquires, develops, explores for, and produces gold, copper, and silver deposits. The company's operations and/or assets are located in the United States, Australia, Peru, Indonesia, Ghana, and New Zealand. Newmont Mining has a market cap of $10.2 billion and is part of the metals & mining industry. Shares are up 0.6% year-to-date as of the close of trading on Wednesday. Currently there are 5 analysts that rate Newmont Mining a buy, no analysts rate it a sell, and 8 rate it a hold.

TheStreet Ratings rates

Newmont Mining

as a

hold

. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and reasonable valuation levels. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. Get the full

Newmont Mining Ratings Report

now.

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2. As of noon trading,

Royal Dutch Shell

(

RDS.A

) is down $1.63 (-3.0%) to $52.79 on average volume. Thus far, 2.6 million shares of Royal Dutch Shell exchanged hands as compared to its average daily volume of 4.2 million shares. The stock has ranged in price between $52.51-$53.20 after having opened the day at $52.80 as compared to the previous trading day's close of $54.42.

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Royal Dutch Shell plc operates as an independent oil and gas company worldwide. It operates through Upstream and Downstream segments. The company explores for and extracts crude oil, natural gas, and natural gas liquids. Royal Dutch Shell has a market cap of $174.8 billion and is part of the energy industry. Shares are down 18.7% year-to-date as of the close of trading on Wednesday.

TheStreet Ratings rates

Royal Dutch Shell

as a

hold

. 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 attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself. Get the full

Royal Dutch Shell Ratings Report

now.

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1. As of noon trading,

Freeport-McMoRan

(

FCX

) is down $0.50 (-4.2%) to $11.52 on average volume. Thus far, 21.6 million shares of Freeport-McMoRan exchanged hands as compared to its average daily volume of 41.4 million shares. The stock has ranged in price between $11.21-$11.86 after having opened the day at $11.77 as compared to the previous trading day's close of $12.02.

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Freeport-McMoRan Inc., a natural resource company, engages in the acquisition of mineral assets, and oil and natural gas resources. It primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, as well as oil and gas. Freeport-McMoRan has a market cap of $12.9 billion and is part of the metals & mining industry. Shares are down 48.5% year-to-date as of the close of trading on Wednesday. Currently there are 6 analysts that rate Freeport-McMoRan a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates

Freeport-McMoRan

as a

sell

. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself. Get the full

Freeport-McMoRan Ratings Report

now.

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If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider

Materials Select Sector SPDR

(

XLB

) while those bearish on the basic materials sector could consider

ProShares Short Basic Materials Fd

(

SBM

).

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