3 Stocks Pushing The Basic Materials Sector Lower
All three major indices are trading up today with the
Dow Jones Industrial Average
(
^DJI
) trading up 130 points (0.7%) at 18,277 as of Monday, July 11, 2016, 12:55 PM ET. The NYSE advances/declines ratio sits at 2,173 issues advancing vs. 757 declining with 136 unchanged.
The Basic Materials sector currently sits up 0.5% versus the S&P 500, which is up 0.6%. Top gainers within the sector include
(
), up 3.6%,
Petroleo Brasileiro SA Petrobras
(
), up 3.0%,
(
), up 2.3%,
(
), up 2.0% and
(
), up 1.6%.
TheStreet would like to highlight 3 stocks pushing the sector lower today:
3.
(
) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Continental Resources is down $0.68 (-1.6%) to $43.02 on light volume. Thus far, 1.4 million shares of Continental Resources exchanged hands as compared to its average daily volume of 4.3 million shares. The stock has ranged in price between $43.00-$44.63 after having opened the day at $44.05 as compared to the previous trading day's close of $43.70.
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Continental Resources, Inc. explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. Continental Resources has a market cap of $16.0 billion and is part of the energy industry. Shares are up 90.2% year-to-date as of the close of trading on Friday. Currently there are 12 analysts that rate Continental Resources a buy, 1 analyst rates it a sell, and 8 rate it a hold.
TheStreet Ratings rates
Continental Resources
as a
. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, weak operating cash flow and feeble growth in its earnings per share. Get the full
Continental Resources Ratings Report
now.
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2. As of noon trading,
(
) is down $0.44 (-1.1%) to $40.70 on light volume. Thus far, 3.1 million shares of Newmont Mining exchanged hands as compared to its average daily volume of 9.0 million shares. The stock has ranged in price between $40.45-$41.06 after having opened the day at $40.65 as compared to the previous trading day's close of $41.14.
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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 $21.7 billion and is part of the metals & mining industry. Shares are up 128.7% year-to-date as of the close of trading on Friday. Currently there are 4 analysts that rate Newmont Mining a buy, no analysts rate it a sell, and 9 rate it a hold.
TheStreet Ratings rates
Newmont Mining
as a
. 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
now.
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1. As of noon trading,
(
) is down $0.31 (-1.4%) to $22.01 on average volume. Thus far, 11.7 million shares of Barrick Gold exchanged hands as compared to its average daily volume of 19.9 million shares. The stock has ranged in price between $21.90-$22.20 after having opened the day at $21.99 as compared to the previous trading day's close of $22.32.
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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 $26.0 billion and is part of the metals & mining industry. Shares are up 202.4% year-to-date as of the close of trading on Friday. Currently there are 3 analysts that rate Barrick Gold a buy, 1 analyst rates it a sell, and 11 rate it a hold.
TheStreet Ratings rates
Barrick Gold
as a
. 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
now.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
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
(
) while those bearish on the basic materials sector could consider
ProShares Short Basic Materials Fd
(
).