7 Stocks Fall to 52-Week Lows

NEW YORK ( TheStreet) -- The following stocks sank to 52-week lows on Monday: Research In Motion ( RIMM), Best Buy ( BBY), Nokia ( NOK), Sohu.com ( SOHU), Clearwire ( CLWR), IAMGOLD ( IAG) and Ivanhoe Mines ( IVN).

Research In Motion

"Given our view around slower smartphone growth in the US, we lower our FY13/FY14 EPS estimates for RIMM by 2%/5% to $1.40/$1.38 respectively," Credit Suisse analysts wrote in a May 11 report. "Apart from near-term pressure on smartphone demand from US carriers, we see the situation at RIM continuing to deteriorate from both a competitive and product perspective. Only the potential for a sale of the company keeps us at Neutral rating."

Shares of Research In Motion hit a 52-week low on Monday of $11.55. The stock's 52-week high of $45.78 was set on May 19.

Research In Motion trades at an estimated price-to-earnings ratio for next year of 6.51 times; the average for telecommunications equipment companies is 11.39. For comparison, Wi-LAN ( WIN) has a higher forward P/E of 8.7.

Thirty-two of the 53 analysts who cover Research In Motion rated it hold. Sixteen analysts gave the stock a sell rating and five rated it buy.

The stock has fallen 18.9% year to date.

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Best Buy

The electronics retailer's founder and Chairman Richard Schulze will step down after Best Buy's audit committee found that Schulze didn't bring the issue of former CEO Brian Dunn's misconduct to the board back in December. Dunn resigned in April.

"We are reducing our Best Buy rating from Outperform to Neutral as the nonoperating story seems to be creating too much of a distraction at a time that all hands need to be on deck," Credit Suisse analysts wrote in a May 11 report. "We are also lowering our target price to $20, reflecting a P/E multiple of 5.5 times our '12 EPS estimate of $3.65. When we first heard that Mr. Dunn was leaving, while we respected what he had accomplished at the company, we took it as a positive signal that the Board realized that a new direction was needed. Given the strong free cash flow and the potential to improve results through store shrinkage and a better Internet presence, we thought that there was visible upside to this story."

Shares of Best Buy hit a 52-week low of $19.02. The stock's 52-week high of $32.85 was set on June 21.

Best Buy's forward P/E is 5.2; the average for specialty retailers is 15.22.

Twenty-one of the 29 analysts who cover Best Buy rated it hold. Four analysts gave the stock a sell rating and another four rated it buy.

The stock has dropped 16% year to date.


Nokia

The telecommunications company was downgraded to sell by Societe Generale analysts on Monday.

"Although recent results for Nokia have been poor, we believe things are likely to get much worse," Societe Generale analysts wrote in a report Monday. "The handset industry is littered with companies that have either stopped production of handsets entirely or have drastically curtailed operations. Recently we noticed that the evolution of Nokia's turnover since 2009 has closely tracked that of Motorola from 2005. Both climbed steadily for two years before falling sharply. Motorola's sales fell 58% in the five quarters from their peak in Q4 2006 and Nokia's sales are down 52% from their high point in Q4 2010 over a five quarter period. However, Motorola's sales carried on falling, down a further 50% over the next two years."

Shares of Nokia hit a 52-week low on Monday of $3.01. The stock's 52-week high of $8.73 was set on May 16.

Nokia's forward P/E is 17.59; the average for telecommunications equipment companies is 12.47.

Twenty of the 29 analysts who cover Nokia rated it hold. Six analysts gave the stock a sell rating and three rated it buy.

The stock has fallen 36.72% year to date.

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Sohu.com

"Sohu reported better 1Q12 results with good games performance," JPMorgan analysts wrote in a May 1 report. "Weaker 2Q12 guidance is due to higher expenses from games and online video. With the company going through two major business transitions, we expect margin leverage will not come until 2013. Maintain OW, given low valuation, and see Sohu as a value play in China's Internet sector, but it could take longer to unlock value."

Shares of Sohu.com hit a 52-week low on Monday of $44.28. The stock's 52-week high of $90.37 was set on July 29.

Sohu.com's forward P/E is 10.83; the average for Internet companies is 15.89. For comparison, Tencent has a higher forward P/E of 20.56.

Eleven of the 21 analysts who cover Sohu.com rated it hold; 10 analysts gave the stock a buy rating.

The stock has fallen 8.76% year to date.


Clearwire

"Clearwire believes some recent developments, including Verizon's (VZ, NEUTRAL, $40.25) planned sale of 700MHz A- and B-block spectrum, have created distractions that hinder Clearwire's negotiations with potential customers and spectrum buyers," Guggenheim analysts wrote in a May 10 report. "Clearwire says its priority is to build a long-term viable wholesale business, and it continues to evaluate opportunities to sell spectrum against the opportunity to sign up the potential spectrum buyer as a wholesale customer. We get the sense that the company may be less eager to sell spectrum than some of its shareholders would like."

Shares of Clearwire hit a 52-week low of $1.17 on Monday. The stock's 52-week high of $4.77 was set on May 24.

Ten of the 16 analysts who cover Clearwire rated it hold. Five analysts gave the stock a buy rating and one rated it sell.

The stock has declined 37.37% year to date.

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IAMGOLD

"We reiterate our BUY rating on shares of IAMGOLD following the release of Q1/12 results which were operationally in line," Canaccord analysts wrote in a report Monday. "The Essakane expansion, Westwood development and Sadiola sulphides are sources of near-term growth with the added long term potential of Cote Lake (subject to Trelawney acquisition). There is also valuation upside associated with Niobec and its related REE deposit."

Shares of IAMGOLD hit a 52-week low on Monday of $10.31. The stock's 52-week high of $23.88 was set on Sept. 20.

IAMGOLD's forward P/E is 6.56; the average for gold mining companies is 8. For comparison, Agnico-Eagle Mines ( AEM) has a higher forward P/E of 16.12.

Sixteen of the 22 analysts who cover IAMGOLD rated it buy. Five analysts gave the stock a hold rating and one rated it sell.

The stock has fallen 34.7% year to date.


Ivanhoe Mines

The company announced on Friday it named David Klinger as its new chairman.

"We maintain our Buy rating on IVN shares," Bank of America Merrill Lynch analysts wrote in an April 30 report. " Oyu Tolgoi is a world class copper-gold mine with the third largest copper mineral resource and one of the lowest C1 LOM (life of mine) cash costs, due to its large precious metal by product credits. We continue to see IVN as a value play due to OT's quality and potential."

Shares of Ivanhoe Mines hit a 52-week low of $9.03 on Monday. The stock's 52-week high of $27.50 was set on Aug. 1.

Ivanhoe Mines' forward P/E is 29.24; the average for nonferrous metals is 10.29. For comparison, First Quantum Minerals Limited ( FM) has a lower forward P/E of 9.03.

Five of the 12 analysts who cover Ivanhoe Mines rated it buy. Four analysts gave the stock a hold rating and three rated it sell.

The stock has dropped 47.69% year to date.

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-- Written by Alexandra Zendrian

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