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.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

2. As of noon trading, InterOil Corporation ( IOC) is down $4.58 (-5.3%) to $81.04 on heavy volume. Thus far, 767,940 shares of InterOil Corporation exchanged hands as compared to its average daily volume of 706,800 shares. The stock has ranged in price between $80.28-$86.49 after having opened the day at $85.43 as compared to the previous trading day's close of $85.63.

InterOil Corporation operates as an integrated oil and gas company in Papua New Guinea. The company operates in four segments: Upstream, Midstream, Downstream, and Corporate. InterOil Corporation has a market cap of $3.8 billion and is part of the energy industry. Shares are up 54.2% year to date as of the close of trading on Monday. Currently there is 1 analyst that rates InterOil Corporation a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates InterOil Corporation as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. 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. Get the full InterOil Corporation Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

1. As of noon trading, Noble Energy ( NBL) is down $0.59 (-0.9%) to $65.38 on light volume. Thus far, 509,740 shares of Noble Energy exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $65.18-$66.11 after having opened the day at $66.07 as compared to the previous trading day's close of $65.97.

Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, development, production, and marketing of crude oil, natural gas, and natural gas liquids primarily in the United States, West Africa, and Eastern Mediterranean. Noble Energy has a market cap of $23.7 billion and is part of the energy industry. Shares are up 29.7% year to date as of the close of trading on Monday. Currently there are 13 analysts that rate Noble Energy a buy, no analysts rate it a sell, and 8 rate it a hold.

TheStreet Ratings rates Noble Energy as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Noble Energy Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

If you are interested in one of these 5 stocks, 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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