5 Stocks Pushing The Basic Materials Sector Lower

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 46 points (-0.4%) at 12,524 as of Thursday, Nov. 15, 2012, 12:05 PM ET. The NYSE advances/declines ratio sits at 826 issues advancing vs. 2,151 declining with 91 unchanged.

The Basic Materials sector currently sits down 0.4% versus the S&P 500, which is down 0.5%. On the negative front, top decliners within the sector include Targa Resources Partners ( NGLS), down 7.3%, Williams Partners ( WPZ), down 4.3%, Energy Transfer Equity ( ETE), down 3.2%, Yamana Gold ( AUY), down 2.3% and Kinder Morgan Energy Partners ( KMP), down 3.0%. Top gainers within the sector include Emerald Oil ( EOX), up 218.5%, Nexen ( NXY), up 1.9%, Anadarko Petroleum ( APC), up 1.1%, Ecopetrol S.A ( EC), up 1.0% and Halliburton Company ( HAL), up 1.1%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector lower today:

5. Iamgold ( IAG) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Iamgold is down $0.59 (-4.9%) to $11.38 on heavy volume Thus far, 2.7 million shares of Iamgold exchanged hands as compared to its average daily volume of 3.0 million shares. The stock has ranged in price between $11.36-$12.03 after having opened the day at $11.97 as compared to the previous trading day's close of $11.97.

IAMGOLD Corporation, a mid-tier gold mining company, engages in the exploration, development, and production of mineral resource properties. It primarily explores for gold, silver, zinc, copper, niobium, diamonds, and other metals. Iamgold has a market cap of $5.6 billion and is part of the metals & mining industry. The company has a P/E ratio of 15.6, below the S&P 500 P/E ratio of 17.7. Shares are down 6.2% year to date as of the close of trading on Wednesday. Currently there are 7 analysts that rate Iamgold a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Iamgold as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Iamgold Ratings Report now.

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