ABX, NEM And AA, Pushing Metals & Mining Industry Downward
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
All three major indices are trading down today with the
Dow Jones Industrial Average
(
^DJI
) trading down 24 points (-0.1%) at 16,982 as of Wednesday, Oct. 29, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,291 issues advancing vs. 1,724 declining with 155 unchanged.
The Metals & Mining industry currently sits down 0.6% versus the S&P 500, which is down 0.2%.
TheStreet would like to highlight 3 stocks pushing the industry lower today:
3.
(
) is one of the companies pushing the Metals & Mining industry lower today. As of noon trading, Barrick Gold is down $0.34 (-2.5%) to $13.18 on average volume. Thus far, 6.0 million shares of Barrick Gold exchanged hands as compared to its average daily volume of 9.9 million shares. The stock has ranged in price between $13.04-$13.42 after having opened the day at $13.39 as compared to the previous trading day's close of $13.52.
Barrick Gold Corporation produces and sells gold and copper. It is also involved in exploration and mine development activities. Barrick Gold has a market cap of $15.5 billion and is part of the basic materials sector. Shares are down 23.3% 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 14 rate it a hold.
TheStreet Ratings rates
TheStreet Recommends
Barrick Gold
as a
. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself. Get the full
now.
2. As of noon trading,
(
) is down $0.58 (-2.6%) to $21.28 on average volume. Thus far, 3.8 million shares of Newmont Mining exchanged hands as compared to its average daily volume of 6.4 million shares. The stock has ranged in price between $21.12-$21.69 after having opened the day at $21.66 as compared to the previous trading day's close of $21.85.
Newmont Mining Corporation, together with its subsidiaries, acquires, explores for, and produces gold, copper, and silver deposits. The company's assets or operations are located in the United States, Australia, Peru, Indonesia, Ghana, New Zealand, Mexico, and Suriname. Newmont Mining has a market cap of $10.8 billion and is part of the basic materials sector. Shares are down 5.1% year-to-date as of the close of trading on Tuesday. Currently there are 3 analysts that rate Newmont Mining a buy, 3 analysts rate it a sell, and 10 rate it a hold.
TheStreet Ratings rates
Newmont Mining
as a
. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself. Get the full
now.
1. As of noon trading,
(
) is down $0.25 (-1.5%) to $16.35 on average volume. Thus far, 13.3 million shares of Alcoa exchanged hands as compared to its average daily volume of 18.9 million shares. The stock has ranged in price between $16.05-$16.70 after having opened the day at $16.58 as compared to the previous trading day's close of $16.60.
Alcoa Inc. produces and manages primary aluminum, fabricated aluminum, and alumina. The company operates in four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions. Alcoa has a market cap of $19.3 billion and is part of the basic materials sector. Shares are up 56.2% year-to-date as of the close of trading on Tuesday. Currently there are 8 analysts that rate Alcoa a buy, 1 analyst rates it a sell, and 6 rate it a hold.
TheStreet Ratings rates
Alcoa
as a
. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, increase in net income, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full
now.
If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the metals & mining industry could consider
(
) while those bearish on the metals & mining industry could consider
PowerShares DB Base Metals Sht ETN
(
).
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