3 Stocks Pulling The Basic Materials Sector Downward

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 77 points (-0.5%) at 16,767 as of Thursday, June 12, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,294 issues advancing vs. 1,659 declining with 161 unchanged.

The Basic Materials sector currently sits up 0.5% versus the S&P 500, which is down 0.3%. On the negative front, top decliners within the sector include Vale ( VALE), down 3.6%, Range Resources ( RRC), down 2.3% and Freeport-McMoRan Copper & Gold ( FCX), down 1.3%. Top gainers within the sector include Goldcorp ( GG), up 3.5%, Cenovus Energy ( CVE), up 3.0%, Seadrill ( SDRL), up 2.9%, Suncor Energy ( SU), up 2.8% and Marathon Oil ( MRO), up 2.1%.

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

3. ArcelorMittal ( MT) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, ArcelorMittal is down $0.26 (-1.7%) to $15.10 on average volume. Thus far, 2.1 million shares of ArcelorMittal exchanged hands as compared to its average daily volume of 4.7 million shares. The stock has ranged in price between $15.07-$15.21 after having opened the day at $15.17 as compared to the previous trading day's close of $15.36.

ArcelorMittal, Societe Anonyme, together with its subsidiaries, operates as an integrated steel and mining company worldwide. The company operates in six segments: Flat Carbon Americas; Flat Carbon Europe; Long Carbon Americas and Europe; AACIS; Distribution Solutions; and Mining. ArcelorMittal has a market cap of $25.4 billion and is part of the metals & mining industry. Shares are down 13.9% year-to-date as of the close of trading on Wednesday. Currently there are 4 analysts that rate ArcelorMittal a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates ArcelorMittal as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and revenue growth. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, poor profit margins and generally higher debt management risk. Get the full ArcelorMittal Ratings Report now.

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