3 Stocks Pushing The Basic Materials Sector Lower

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The Basic Materials sector as a whole closed the day down 0.1% versus the S&P 500, which was down 0.3%. Laggards within the Basic Materials sector included Entree Gold ( EGI), down 2.0%, Alderon Iron Ore ( AXX), down 9.5%, Tengasco ( TGC), down 2.1%, Avalon Rare Metals ( AVL), down 7.7% and Northern Dynasty Minerals ( NAK), down 8.5%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the sector lower today:

Avalon Rare Metals ( AVL) is one of the companies that pushed the Basic Materials sector lower today. Avalon Rare Metals was down $0.03 (7.7%) to $0.35 on average volume. Throughout the day, 229,984 shares of Avalon Rare Metals exchanged hands as compared to its average daily volume of 173,300 shares. The stock ranged in price between $0.34-$0.37 after having opened the day at $0.37 as compared to the previous trading day's close of $0.38.

Avalon Rare Metals has a market cap of $47.4 million and is part of the energy industry. Shares are down 31.8% year-to-date as of the close of trading on Friday. Currently there are no analysts who rate Avalon Rare Metals a buy, no analysts rate it a sell, and 1 rates it a hold.

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At the close, Alderon Iron Ore ( AXX) was down $0.08 (9.5%) to $0.73 on light volume. Throughout the day, 12,270 shares of Alderon Iron Ore exchanged hands as compared to its average daily volume of 51,300 shares. The stock ranged in price between $0.73-$0.78 after having opened the day at $0.76 as compared to the previous trading day's close of $0.81.

Alderon Iron Ore has a market cap of $102.8 million and is part of the energy industry. Shares are down 48.6% year-to-date as of the close of trading on Friday. Currently there are 3 analysts who rate Alderon Iron Ore a buy, no analysts rate it a sell, and none rate it a hold.

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Entree Gold ( EGI) was another company that pushed the Basic Materials sector lower today. Entree Gold was down $0.01 (2.0%) to $0.26 on light volume. Throughout the day, 48,420 shares of Entree Gold exchanged hands as compared to its average daily volume of 71,900 shares. The stock ranged in price between $0.25-$0.30 after having opened the day at $0.28 as compared to the previous trading day's close of $0.27.

Entree Gold has a market cap of $39.7 million and is part of the energy industry. Shares are down 3.6% year-to-date as of the close of trading on Friday.

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