NEW YORK (

TheStreet

) --

McMoRan Exploration

(NYSE:

MMR

) hit a new 52-week low Friday as it is currently trading at $11.05, below its previous 52-week low of $11.06 with 131,904 shares traded as of 9:46 a.m. ET. Average volume has been 2.5 million shares over the past 30 days.

McMoRan has a market cap of $1.8 billion and is part of the

basic materials

sector and

energy

industry. Shares are down 34.1% year to date as of the close of trading on Thursday.

McMoRan Exploration Co., through its subsidiary, McMoRan Oil & Gas LLC, engages in the exploration, development, and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area of the United States.

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TheStreet Ratings rates McMoRan as a

sell

. Among the areas we feel are negative, one of the most important has been unimpressive growth in net income over time. You can view the full

McMoRan Ratings Report

.

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