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

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 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.

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, Marathon Oil ( MRO) is down $0.32 (-0.9%) to $35.08 on average volume. Thus far, 2.5 million shares of Marathon Oil exchanged hands as compared to its average daily volume of 5.9 million shares. The stock has ranged in price between $34.99-$35.54 after having opened the day at $35.26 as compared to the previous trading day's close of $35.40.

Marathon Oil Corporation operates as an energy company worldwide. The company's North America Exploration and Production segment explores for, produces, and markets liquid hydrocarbons and natural gas in North America. Marathon Oil has a market cap of $24.5 billion and is part of the energy industry. Shares are up 0.3% year-to-date as of the close of trading on Thursday. Currently there are 11 analysts that rate Marathon Oil a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Marathon Oil as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, reasonable valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Marathon Oil 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, Newmont Mining Corporation ( NEM) is down $0.47 (-1.9%) to $24.32 on light volume. Thus far, 3.1 million shares of Newmont Mining Corporation exchanged hands as compared to its average daily volume of 10.3 million shares. The stock has ranged in price between $24.25-$24.78 after having opened the day at $24.74 as compared to the previous trading day's close of $24.79.

Newmont Mining Corporation, together with its subsidiaries, acquires, explores for, and produces gold, copper, and silver deposits. The company's assets or operations are located in the United States, Australia, Peru, Indonesia, Ghana, New Zealand, Mexico, and Suriname. Newmont Mining Corporation has a market cap of $12.4 billion and is part of the metals & mining industry. Shares are up 7.6% year-to-date as of the close of trading on Thursday. Currently there are 2 analysts that rate Newmont Mining Corporation a buy, 4 analysts rate it a sell, and 10 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. Get the full Newmont Mining 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.

If you are interested in one of these 3 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).

null

More from Markets

Dow Tumbles as Trump Calls Off North Korea Summit

Dow Tumbles as Trump Calls Off North Korea Summit

Automakers Slump as Trump Tariffs Threaten Both Manufacturers and Consumers

Automakers Slump as Trump Tariffs Threaten Both Manufacturers and Consumers

Jim Cramer: Does Saudi Arabia Think Oil Prices Are Too High?

Jim Cramer: Does Saudi Arabia Think Oil Prices Are Too High?

Stocks Could Easily Crater Into Memorial Day Weekend

Stocks Could Easily Crater Into Memorial Day Weekend

Video: Here Is How Real Estate Investment Trusts Can Boost Your Portfolio

Video: Here Is How Real Estate Investment Trusts Can Boost Your Portfolio