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.
Freeport-McMoRan Copper & Gold (
FCX) pushed the Metals & Mining industry lower today making it today's featured Metals & Mining laggard. The industry as a whole closed the day down 0.9%. By the end of trading, Freeport-McMoRan Copper & Gold fell 41 cents (-1.2%) to $32.59 on average volume. Throughout the day, 11.5 million shares of Freeport-McMoRan Copper & Gold exchanged hands as compared to its average daily volume of 14 million shares. The stock ranged in price between $32.42-$33.15 after having opened the day at $33.14 as compared to the previous trading day's close of $33. Other companies within the Metals & Mining industry that declined today were:
Kimber Resources (
KBX), down 11.5%,
Sutor Technology Group (
SUTR), down 9.4%,
Entree Gold (
EGI), down 6.4%, and
Oxford Resource Partners (
OXF), down 6%.
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Freeport-McMoRan Copper & Gold Inc. engages in the exploration of mineral resource properties. The company primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, such as rhenium and magnetite. Freeport-McMoRan Copper & Gold has a market cap of $31.56 billion and is part of the basic materials sector. The company has a P/E ratio of 10.4, below the S&P 500 P/E ratio of 17.7. Shares are down 3.5% year to date as of the close of trading on Friday. Currently there are 10 analysts that rate Freeport-McMoRan Copper & Gold a buy, no analysts rate it a sell, and three rate it a hold.
TheStreet Ratings rates Freeport-McMoRan Copper & Gold as a
buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
On the positive front,
China Gengsheng Minerals (
CHGS), up 14.3%,
Gold Standard Ventures (
GSV), up 9.8%,
Kobex Minerals (
KXM), up 9.1%, and
Great Basin Gold (
GBG), up 7.5%, were all gainers within the metals & mining industry with
Iamgold (
IAG) being today's featured metals & mining industry leader.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the metals & mining industry could consider
SPDR S&P Metals & Mining ETF (
XME) while those bearish on the metals & mining industry could consider
PowerShares DB Base Metals Sht ETN (
BOS).
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