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The Basic Materials sector as a whole closed the day down 1.5% versus the S&P 500, which was down 0.4%. Laggards within the Basic Materials sector included
), down 4.9%,
), down 2.0%,
), down 6.7%,
), down 2.1% and
), down 7.3%.
TheStreet Ratings Group would like to highlight 3 stocks that pushed the sector lower today:
) is one of the companies that pushed the Basic Materials sector lower today. India Globalization Capital was down $0.04 (6.7%) to $0.56 on light volume. Throughout the day, 14,944 shares of India Globalization Capital exchanged hands as compared to its average daily volume of 39,800 shares. The stock ranged in price between $0.56-$0.60 after having opened the day at $0.60 as compared to the previous trading day's close of $0.60.
India Globalization Capital has a market cap of $8.3 million and is part of the energy industry. Shares are down 10.8% year-to-date as of the close of trading on Tuesday. Currently there are no analysts who rate India Globalization Capital a buy, no analysts rate it a sell, and 1 rates it a hold.
At the close,
) was down $0.01 (2.0%) to $0.50 on light volume. Throughout the day, 20,635 shares of Mines Management exchanged hands as compared to its average daily volume of 37,300 shares. The stock ranged in price between $0.47-$0.52 after having opened the day at $0.47 as compared to the previous trading day's close of $0.51.
Mines Management, Inc., together with its subsidiaries, acquires, explores, and develops various mineral properties in North and South America. The company explores for silver, and associated base and precious metals. Mines Management has a market cap of $14.9 million and is part of the energy industry. Shares are up 6.4% year-to-date as of the close of trading on Tuesday.
TheStreet Ratings rates
. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
Highlights from TheStreet Ratings analysis on MGN go as follows:
- Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Metals & Mining industry and the overall market, MINES MANAGEMENT INC's return on equity significantly trails that of both the industry average and the S&P 500.
- Net operating cash flow has declined marginally to -$1.52 million or 3.12% when compared to the same quarter last year. Despite a decrease in cash flow MINES MANAGEMENT INC is still fairing well by exceeding its industry average cash flow growth rate of -36.70%.
- MGN has underperformed the S&P 500 Index, declining 21.54% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
- The revenue fell significantly faster than the industry average of 6.5%. Since the same quarter one year prior, revenues fell by 44.4%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
- MINES MANAGEMENT INC has improved earnings per share by 16.7% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. During the past fiscal year, MINES MANAGEMENT INC continued to lose money by earning -$0.25 versus -$0.28 in the prior year.
You can view the full analysis from the report here:
) was another company that pushed the Basic Materials sector lower today. Quest Rare Minerals was down $0.00 (4.9%) to $0.08 on heavy volume. Throughout the day, 389,619 shares of Quest Rare Minerals exchanged hands as compared to its average daily volume of 133,900 shares. The stock ranged in price between $0.08-$0.09 after having opened the day at $0.09 as compared to the previous trading day's close of $0.09.
Quest Rare Minerals has a market cap of $5.5 million and is part of the energy industry. Shares are down 20.9% year-to-date as of the close of trading on Tuesday.