3 Stocks Pushing The Basic Materials Sector Downward

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 26 points (0.2%) at 15,572 as of Tuesday, July 23, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,636 issues advancing vs. 1,285 declining with 117 unchanged.

The Basic Materials sector currently sits up 0.6% versus the S&P 500, which is down 0.1%. On the negative front, top decliners within the sector include Plains All American Pipeline ( PAA), down 1.4%, National Oilwell Varco ( NOV), down 1.0%, EOG Resources ( EOG), down 0.8% and Kinder Morgan ( KMI), down 0.8%. Top gainers within the sector include Gerdau ( GGB), up 2.9%, Phillips 66 ( PSX), up 2.9%, Marathon Petroleum ( MPC), up 3.0%, POSCO ( PKX), up 2.8% and Air Products & Chemicals ( APD), up 2.5%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. Cameco ( CCJ) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Cameco is down $0.76 (-3.5%) to $21.22 on heavy volume. Thus far, 1.5 million shares of Cameco exchanged hands as compared to its average daily volume of 1.4 million shares. The stock has ranged in price between $21.08-$22.26 after having opened the day at $22.13 as compared to the previous trading day's close of $21.98.

Cameco Corporation operates as a uranium producer, supplier of conversion services, and fuel manufacturer. The company's Uranium segment is involved in the exploration for, mining, milling, purchase, and sale of uranium concentrate. Cameco has a market cap of $8.4 billion and is part of the metals & mining industry. Shares are up 11.5% year to date as of the close of trading on Monday. Currently there are 9 analysts that rate Cameco a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Cameco as a hold. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income. Get the full Cameco Ratings Report now.

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