Newmont Mining Corp (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 ( NEM) pushed the Basic Materials sector lower today making it today's featured Basic Materials laggard. The sector as a whole closed the day down 0.6%. By the end of trading, Newmont Mining fell $0.25 (-1.0%) to $24.60 on light volume. Throughout the day, 3,434,173 shares of Newmont Mining exchanged hands as compared to its average daily volume of 9,889,000 shares. The stock ranged in price between $24.50-$24.82 after having opened the day at $24.82 as compared to the previous trading day's close of $24.85. Other companies within the Basic Materials sector that declined today were: KiOR ( KIOR), down 16.0%, Quicksilver Resources ( KWK), down 13.3%, Stone Energy ( SGY), down 11.0% and Pacific Ethanol ( PEIX), down 9.9%.

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 has a market cap of $12.3 billion and is part of the metals & mining industry. Shares are up 7.9% year to date as of the close of trading on Monday. Currently there are 2 analysts that rate Newmont Mining a buy, 4 analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates Newmont Mining 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, Forest Oil ( FST), up 13.4%, Methes Energies International ( MEIL), up 9.5%, Swift Energy ( SFY), up 8.7% and Pacific Booker Minerals ( PBM), up 7.9% , were all gainers within the basic materials sector with Occidental Petroleum ( OXY) 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.

If you liked this article you might like

Gold Bugs Have a Quantitative Reason to Buy Newmont Mining

Gold Bugs Have a Quantitative Reason to Buy Newmont Mining

Dow, S&P 500 and Nasdaq Score Solid Gains

Dow, S&P 500 and Nasdaq Score Solid Gains

Dow Jumps Triple Digits as GE and Boeing Post Solid Gains

Dow Jumps Triple Digits as GE and Boeing Post Solid Gains

Wall Street Edges Higher, Nasdaq Gets Lift From Broadcom Earnings

Wall Street Edges Higher, Nasdaq Gets Lift From Broadcom Earnings

Wall Street Set for Mixed Open but Nasdaq Seen Higher as Large-Cap Tech Gains

Wall Street Set for Mixed Open but Nasdaq Seen Higher as Large-Cap Tech Gains