3 Basic Materials Stocks Moving The Sector Upward

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 14 points (-0.1%) at 16,929 as of Tuesday, June 10, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 966 issues advancing vs. 1,989 declining with 165 unchanged.

The Basic Materials sector currently is unchanged today versus the S&P 500, which is down 0.2%. Top gainers within the sector include YPF Sociedad Anonima ( YPF), up 2.1%, Ecopetrol ( EC), up 1.5%, Devon Energy ( DVN), up 1.4%, ConocoPhillips ( COP), up 0.8% and Chevron ( CVX), up 0.5%. On the negative front, top decliners within the sector include Tenaris ( TS), down 3.5%, Valero Energy ( VLO), down 2.8%, Cabot Oil & Gas ( COG), down 2.6%, Marathon Petroleum ( MPC), down 2.5% and ArcelorMittal ( MT), down 1.0%.

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

3. Potash Corp of Saskatchewan ( POT) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Potash Corp of Saskatchewan is up $0.62 (1.7%) to $36.17 on average volume. Thus far, 2.5 million shares of Potash Corp of Saskatchewan exchanged hands as compared to its average daily volume of 4.5 million shares. The stock has ranged in price between $35.48-$36.31 after having opened the day at $35.52 as compared to the previous trading day's close of $35.55.

Potash Corporation of Saskatchewan Inc., together with its subsidiaries, produces and sells fertilizers and related industrial and feed products worldwide. It mines and produces potash, which is primarily used as fertilizer. Potash Corp of Saskatchewan has a market cap of $30.0 billion and is part of the chemicals industry. Shares are up 7.9% year-to-date as of the close of trading on Monday. Currently there are 5 analysts who rate Potash Corp of Saskatchewan a buy, 1 analyst rates it a sell, and 12 rate it a hold.

TheStreet Ratings rates Potash Corp of Saskatchewan as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. Get the full Potash Corp of Saskatchewan 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.

2. As of noon trading, Barrick Gold ( ABX) is up $0.24 (1.5%) to $16.22 on light volume. Thus far, 3.1 million shares of Barrick Gold exchanged hands as compared to its average daily volume of 10.3 million shares. The stock has ranged in price between $16.10-$16.27 after having opened the day at $16.11 as compared to the previous trading day's close of $15.98.

Barrick Gold Corporation produces and sells gold and copper. It is also involved in exploration and mine development activities. Barrick Gold has a market cap of $18.7 billion and is part of the metals & mining industry. Shares are down 9.4% year-to-date as of the close of trading on Monday. Currently there are 2 analysts who rate Barrick Gold a buy, 1 analyst rates it a sell, and 15 rate it a hold.

TheStreet Ratings rates Barrick Gold 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 Barrick Gold 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.

1. As of noon trading, LyondellBasell Industries ( LYB) is up $0.69 (0.7%) to $99.61 on light volume. Thus far, 935,163 shares of LyondellBasell Industries exchanged hands as compared to its average daily volume of 3.1 million shares. The stock has ranged in price between $98.90-$99.72 after having opened the day at $99.00 as compared to the previous trading day's close of $98.92.

LyondellBasell Industries N.V., together with its subsidiaries, manufactures chemicals and polymers; refines crude oil; produces gasoline blending components; and develops and licenses technologies for production of polymers. LyondellBasell Industries has a market cap of $52.2 billion and is part of the chemicals industry. Shares are up 23.2% year-to-date as of the close of trading on Monday. Currently there are 11 analysts who rate LyondellBasell Industries a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates LyondellBasell Industries as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full LyondellBasell Industries 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.

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

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists

Dow Falls, S&P 500 Trades Lower as P&G and Apple Slump

Dow Falls, S&P 500 Trades Lower as P&G and Apple Slump

Video: Jim Cramer on Apple, Procter & Gamble, Nucor and Acacia Communications

Video: Jim Cramer on Apple, Procter & Gamble, Nucor and Acacia Communications

Video: Jim Cramer Reveals Why Stocks Are Moving Lower Thursday

Video: Jim Cramer Reveals Why Stocks Are Moving Lower Thursday

Soaring Nickel Prices Could Be Bad News for Electric Carmakers Like Tesla

Soaring Nickel Prices Could Be Bad News for Electric Carmakers Like Tesla