Newmont Mining Corporation (NEM): Today's Featured Basic Materials Laggard

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.

Newmont Mining Corporation ( NEM) pushed the Basic Materials sector lower today making it today's featured Basic Materials laggard. The sector as a whole closed the day up 0.5%. By the end of trading, Newmont Mining Corporation fell $0.89 (-3.2%) to $27.21 on average volume. Throughout the day, 13,733,992 shares of Newmont Mining Corporation exchanged hands as compared to its average daily volume of 9,393,300 shares. The stock ranged in price between $26.73-$27.50 after having opened the day at $27.41 as compared to the previous trading day's close of $28.10. Other companies within the Basic Materials sector that declined today were: Asanko Gold ( AKG), down 24.9%, Keegan Resources ( KGN), down 24.9%, GeoPetro Resources Company ( GPR), down 22.5% and HyperDynamics Corporation ( HDY), down 14.9%.

Newmont Mining Corporation, together with its subsidiaries, engages in the acquisition, exploration, and production of gold and copper properties. The company's assets or operations are located in the United States, Australia, Peru, Indonesia, Ghana, Mexico, and New Zealand. Newmont Mining Corporation has a market cap of $13.8 billion and is part of the metals & mining industry. Shares are down 39.7% year to date as of the close of trading on Monday. Currently there are 4 analysts that rate Newmont Mining Corporation a buy, 3 analysts rate it a sell, and 8 rate it a hold.

TheStreet Ratings rates Newmont Mining Corporation as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

On the positive front, BioAmber ( BIOA), up 19.2%, Entree Gold ( EGI), up 17.9%, Pyramid Oil Company ( PDO), up 17.0% and Kimber Resources ( KBX), up 14.9% , were all gainers within the basic materials sector with Hess ( HES) being today's featured basic materials sector leader.

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).

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