GG, MRO And NEM, 3 Basic Materials Stocks Pushing The Sector Lower

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 86 points (-0.5%) at 16,084 as of Friday, April 11, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,014 issues advancing vs. 1,941 declining with 158 unchanged.

The Basic Materials sector currently sits down 0.2% versus the S&P 500, which is down 0.3%. On the negative front, top decliners within the sector include CF Industries Holdings ( CF), down 2.6%, Seadrill ( SDRL), down 2.2%, Transocean ( RIG), down 1.5%, BP ( BP), down 1.4% and Nucor ( NUE), down 1.2%. Top gainers within the sector include Buckeye Partners L.P ( BPL), up 2.6%, ConocoPhillips ( COP), up 1.8%, Pioneer Natural Resources Company ( PXD), up 1.8%, Energy Transfer Partners L.P ( ETP), up 1.8% and Magellan Midstream Partners L.P ( MMP), up 1.6%.

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

3. Goldcorp ( GG) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Goldcorp is down $0.29 (-1.2%) to $24.24 on average volume. Thus far, 2.8 million shares of Goldcorp exchanged hands as compared to its average daily volume of 7.1 million shares. The stock has ranged in price between $24.17-$24.60 after having opened the day at $24.53 as compared to the previous trading day's close of $24.53.

Goldcorp Inc. is engaged in the acquisition, operation, exploration, and development of precious metal properties in Canada, the United States, Mexico, and Central and South America. Goldcorp has a market cap of $20.8 billion and is part of the metals & mining industry. Shares are up 13.2% year-to-date as of the close of trading on Thursday. Currently there are 12 analysts that 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.

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