NEW YORK (

TheStreet

) --

McMoRan Exploration

(NYSE:

MMR

) hit a new 52-week low Thursday as it is currently trading at $10.50, below its previous 52-week low of $10.98 with 239,006 shares traded as of 9:41 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 31.9% year to date as of the close of trading on Wednesday.

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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

. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and generally disappointing historical performance in the stock itself. You can view the full

McMoRan Ratings Report

.

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