3 Stocks Dragging In The Basic Materials Sector

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

All three major indices are trading up today with the

Dow Jones Industrial Average

(

^DJI

) trading up 44 points (0.2%) at 18,603 as of Wednesday, July 20, 2016, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,983 issues advancing vs. 916 declining with 144 unchanged.

The Basic Materials sector currently sits down 0.3% versus the S&P 500, which is up 0.4%. On the negative front, top decliners within the sector include

Eldorado Gold

(

EGO

), down 6.2%,

Kinross Gold

(

KGC

), down 5.6%,

Agnico Eagle Mines

(

AEM

), down 5.1%,

Anglogold Ashanti

(

AU

), down 4.2% and

Ecopetrol

(

EC

), down 3.5%. Top gainers within the sector include

Anadarko Petroleum

(

APC

), up 1.3%,

Dow Chemical

(

DOW

), up 1.2%,

LyondellBasell Industries

(

LYB

), up 1.0%,

Schlumberger

(

SLB

), up 1.0% and

Williams Partners

(

WPZ

), up 1.0%.

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

3.

Goldcorp

(

GG

) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Goldcorp is down $0.84 (-4.4%) to $18.22 on average volume. Thus far, 6.3 million shares of Goldcorp exchanged hands as compared to its average daily volume of 9.6 million shares. The stock has ranged in price between $18.05-$18.70 after having opened the day at $18.67 as compared to the previous trading day's close of $19.06.

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Goldcorp Inc. engages in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, silver, lead, zinc, and copper. Goldcorp has a market cap of $16.2 billion and is part of the metals & mining industry. Shares are up 64.9% year-to-date as of the close of trading on Tuesday. Currently there are 5 analysts that rate Goldcorp a buy, 2 analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates

Goldcorp

as a

hold

. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. Get the full

Goldcorp Ratings Report

now.

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2. As of noon trading,

Newmont Mining

(

NEM

) is down $1.79 (-4.3%) to $39.60 on average volume. Thus far, 4.3 million shares of Newmont Mining exchanged hands as compared to its average daily volume of 8.8 million shares. The stock has ranged in price between $39.46-$40.69 after having opened the day at $40.68 as compared to the previous trading day's close of $41.39.

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Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. It primarily acquires, develops, explores for, and produces gold, silver, and copper. Newmont Mining has a market cap of $22.1 billion and is part of the metals & mining industry. Shares are up 130.1% year-to-date as of the close of trading on Tuesday. Currently there are 4 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, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, disappointing return on equity and feeble growth in the company's earnings per share. Get the full

Newmont Mining Ratings Report

now.

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1. As of noon trading,

Barrick Gold

(

ABX

) is down $1.24 (-5.7%) to $20.34 on average volume. Thus far, 12.2 million shares of Barrick Gold exchanged hands as compared to its average daily volume of 20.3 million shares. The stock has ranged in price between $20.26-$21.07 after having opened the day at $21.02 as compared to the previous trading day's close of $21.57.

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Barrick Gold Corporation produces and sells gold and copper. The company is also involved in exploration and mine development activities. Barrick Gold has a market cap of $25.2 billion and is part of the metals & mining industry. Shares are up 192.3% year-to-date as of the close of trading on Tuesday. Currently there are 3 analysts that rate Barrick Gold a buy, 1 analyst rates it a sell, and 10 rate it a hold.

TheStreet Ratings rates

Barrick Gold

as a

hold

. The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity. Get the full

Barrick Gold 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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