5 Basic Materials Stocks Driving The Sector Higher

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 41 points (-0.3%) at 15,444 as of Tuesday, July 16, 2013, 12:45 PM ET. The NYSE advances/declines ratio sits at 951 issues advancing vs. 1,969 declining with 95 unchanged.

The Basic Materials sector currently sits down 0.2% versus the S&P 500, which is down 0.4%. Top gainers within the sector include Barrick Gold Corporation ( ABX), up 6.4%, Kinross Gold Corporation ( KGC), up 6.0%, Yamana Gold ( AUY), up 5.2%, Randgold Resources ( GOLD), up 5.1% and Ecopetrol S.A ( EC), up 1.7%. On the negative front, top decliners within the sector include Axiall ( AXLL), down 22.0%, Marathon Petroleum ( MPC), down 4.3%, El Paso Pipeline Partners ( EPB), down 3.1%, Phillips 66 ( PSX), down 2.3% and Energy Transfer Partners L.P ( ETP), down 2.0%.

TheStreet would like to highlight 5 stocks pushing the sector higher today:

5. ArcelorMittal ( MT) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, ArcelorMittal is up $0.21 (1.7%) to $12.29 on light volume. Thus far, 2.1 million shares of ArcelorMittal exchanged hands as compared to its average daily volume of 6.6 million shares. The stock has ranged in price between $12.22-$12.33 after having opened the day at $12.31 as compared to the previous trading day's close of $12.08.

ArcelorMittal, together with its subsidiaries, operates as an integrated steel and mining company worldwide. The company operates through six segments: Flat Carbon Americas; Flat Carbon Europe; Long Carbon Americas and Europe; Asia, Africa, and CIS; Distribution Solutions; and Mining. ArcelorMittal has a market cap of $18.9 billion and is part of the metals & mining industry. Shares are down 30.9% year to date as of the close of trading on Monday. Currently there are 4 analysts that rate ArcelorMittal a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates ArcelorMittal as a hold. The company's strongest point has been its a solid financial position based on a variety of debt and liquidity measures that we have looked at. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. Get the full ArcelorMittal Ratings Report now.

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