Barrick Gold Corporation (ABX): Today's Featured Basic Materials Winner

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.

Barrick Gold Corporation ( ABX) pushed the Basic Materials sector higher today making it today's featured basic materials winner. The sector as a whole closed the day up 0.2%. By the end of trading, Barrick Gold Corporation rose 30 cents (1%) to $29.18 on average volume. Throughout the day, 11.4 million shares of Barrick Gold Corporation exchanged hands as compared to its average daily volume of nine million shares. The stock ranged in a price between $29.14-$29.58 after having opened the day at $29.29 as compared to the previous trading day's close of $28.88. Other companies within the Basic Materials sector that increased today were: Endeavour Silver Corporation ( EXK), up 12.5%, Rubicon Minerals ( RBY), up 12%, Northern Dynasty Minerals ( NAK), up 10.4%, and BioFuel Energy Corporation ( BIOF), up 10%.
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Barrick Gold Corporation engages in the production and sale of gold and copper. The company has a portfolio of 27 operating mines, and exploration and development projects located in North America, South America, the Australia Pacific region, and Africa. Barrick Gold Corporation has a market cap of $28.93 billion and is part of the metals & mining industry. Shares are down 17.5% year to date as of the close of trading on Monday. Currently there are 10 analysts that rate Barrick Gold Corporation a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Barrick Gold Corporation as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

On the negative front, Prospect Global Resources ( PGRX), down 39.6%, BMB Munai ( BMBM), down 10.4%, GeoGlobal Resources ( GGR), down 10.1%, and Oxford Resource Partners ( OXF), down 8.6%, were all laggards within the basic materials sector with Spectra Energy ( SE) being today's basic materials sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider Materials Select Sector SPDR ( XLB) while those bearish on the basic materials sector could consider ProShares Short Basic Materials Fd ( SBM).

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