Today's Stocks Driving Success For The Basic Materials Sector

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.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 202 points (-1.2%) at 16,120 as of Monday, March 3, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 729 issues advancing vs. 2,228 declining with 140 unchanged.

The Basic Materials sector currently is unchanged today versus the S&P 500, which is down 1.0%. Top gainers within the sector include Randgold Resources ( GOLD), up 4.8%, Statoil ASA ( STO), up 2.3%, Canadian Natural Resources ( CNQ), up 1.0%, Monsanto Company ( MON), up 1.0% and EOG Resources ( EOG), up 0.9%. On the negative front, top decliners within the sector include Companhia Siderurgica Nacional ( SID), down 7.9%, BP ( BP), down 2.4%, Tenaris ( TS), down 2.4%, Schlumberger ( SLB), down 2.1% and Total ( TOT), down 2.1%.

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

3. Goldcorp ( GG) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Goldcorp is up $0.61 (2.3%) to $27.54 on average volume. Thus far, 3.5 million shares of Goldcorp exchanged hands as compared to its average daily volume of 8.3 million shares. The stock has ranged in price between $27.41-$27.82 after having opened the day at $27.64 as compared to the previous trading day's close of $26.93.

Goldcorp Inc. engages in the acquisition, development, exploration, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. It primarily explores for gold ores, as well as for silver, copper, lead, and zinc ores. Goldcorp has a market cap of $22.0 billion and is part of the metals & mining industry. Shares are up 24.3% year-to-date as of the close of trading on Friday. Currently there are 11 analysts who rate Goldcorp a buy, 1 analyst rates it a sell, and 7 rate it a hold.

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

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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