NEW YORK ( TheStreet) -- McMoRan Exploration (NYSE: MMR) hit a new 52-week low Monday as it is currently trading at $9.73, below its previous 52-week low of $9.75 with 313,422 shares traded as of 10:10 a.m. ET. Average volume has been 2.5 million shares over the past 30 days.

McMoRan has a market cap of $1.6 billion and is part of the basic materials sector and energy industry. Shares are down 42.1% year to date as of the close of trading on Friday.

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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