EQT, NEM And FCX, Pushing Basic Materials Sector Downward

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 89 points (0.5%) at 17,572 as of Tuesday, Nov. 17, 2015, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,707 issues advancing vs. 1,176 declining with 187 unchanged.

The Basic Materials sector currently sits down 0.7% versus the S&P 500, which is up 0.6%. On the negative front, top decliners within the sector include

Barrick Gold

(

ABX

), down 4.8%,

Goldcorp

(

GG

), down 4.6%,

EnLink Midstream Partners

(

ENLK

), down 3.9%,

Ecopetrol

(

EC

), down 3.8% and

Cabot Oil & Gas

(

COG

), down 3.6%. Top gainers within the sector include

Braskem

(

BAK

), up 7.0%,

CF Industries Holdings

(

CF

), up 3.3%,

Williams Companies

(

WMB

), up 2.1%,

Energy Transfer Equity

(

ETE

), up 1.5% and

Marathon Petroleum

(

MPC

), up 1.1%.

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

3.

EQT

(

EQT

) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, EQT is down $1.64 (-2.6%) to $61.85 on average volume. Thus far, 672,037 shares of EQT exchanged hands as compared to its average daily volume of 1.7 million shares. The stock has ranged in price between $61.75-$64.37 after having opened the day at $63.02 as compared to the previous trading day's close of $63.49.

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EQT Corporation, together with its subsidiaries, operates as a natural gas company in the United States. It operates in two segments, EQT Production and EQT Midstream. EQT has a market cap of $9.5 billion and is part of the energy industry. Shares are down 16.1% year-to-date as of the close of trading on Monday. Currently there are 10 analysts that rate EQT a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates

EQT

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

EQT Ratings Report

now.

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2. As of noon trading,

Newmont Mining

(

NEM

) is down $0.37 (-2.1%) to $17.26 on light volume. Thus far, 1.9 million shares of Newmont Mining exchanged hands as compared to its average daily volume of 8.4 million shares. The stock has ranged in price between $17.25-$17.67 after having opened the day at $17.55 as compared to the previous trading day's close of $17.63.

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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 $9.3 billion and is part of the metals & mining industry. Shares are down 6.7% year-to-date as of the close of trading on Monday. 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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1. As of noon trading,

Freeport-McMoRan

(

FCX

) is down $0.24 (-2.6%) to $8.62 on light volume. Thus far, 13.0 million shares of Freeport-McMoRan exchanged hands as compared to its average daily volume of 41.3 million shares. The stock has ranged in price between $8.52-$8.97 after having opened the day at $8.94 as compared to the previous trading day's close of $8.86.

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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 $10.0 billion and is part of the metals & mining industry. Shares are down 62.1% year-to-date as of the close of trading on Monday. 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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