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The Basic Materials sector as a whole closed the day down 2.4% versus the S&P 500, which was down 1.7%. Laggards within the Basic Materials sector included Alderon Iron Ore ( AXX), down 6.6%, Ossen Innovation ( OSN), down 2.8%, Mines Management ( MGN), down 4.2%, Atlatsa Resources ( ATL), down 5.9% and Tengasco ( TGC), down 8.7%.

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

Mines Management ( MGN) is one of the companies that pushed the Basic Materials sector lower today. Mines Management was down $0.02 (4.2%) to $0.46 on average volume. Throughout the day, 40,138 shares of Mines Management exchanged hands as compared to its average daily volume of 30,400 shares. The stock ranged in price between $0.45-$0.49 after having opened the day at $0.49 as compared to the previous trading day's close of $0.48.

Mines Management, Inc., together with its subsidiaries, acquires, explores, and develops various mineral properties in North and South America. The company explores for silver, and associated base and precious metals. Mines Management has a market cap of $14.6 million and is part of the energy industry. Shares are up 4.2% year-to-date as of the close of trading on Monday.

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TheStreet Ratings rates Mines Management as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.

Highlights from TheStreet Ratings analysis on MGN go as follows:

  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Metals & Mining industry and the overall market, MINES MANAGEMENT INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • Net operating cash flow has declined marginally to -$1.52 million or 3.12% when compared to the same quarter last year. Despite a decrease in cash flow of 3.12%, MINES MANAGEMENT INC is still significantly exceeding the industry average of -57.49%.
  • MGN's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 69.38%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • The revenue fell significantly faster than the industry average of 2.8%. Since the same quarter one year prior, revenues fell by 44.4%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • MINES MANAGEMENT INC has improved earnings per share by 16.7% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. During the past fiscal year, MINES MANAGEMENT INC continued to lose money by earning -$0.25 versus -$0.28 in the prior year.

You can view the full analysis from the report here: Mines Management Ratings Report

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At the close, Ossen Innovation ( OSN) was down $0.02 (2.8%) to $0.68 on light volume. Throughout the day, 3,702 shares of Ossen Innovation exchanged hands as compared to its average daily volume of 15,200 shares. The stock ranged in price between $0.68-$0.68 after having opened the day at $0.68 as compared to the previous trading day's close of $0.70.

Ossen Innovation Co., Ltd. manufactures and sells various plain surface prestressed steel materials, and rare earth coated and zinc coated prestressed steel materials in the People's Republic of China. Ossen Innovation has a market cap of $13.4 million and is part of the energy industry. Shares are down 14.6% year-to-date as of the close of trading on Monday.

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TheStreet Ratings rates Ossen Innovation as a hold. The company's strengths can be seen in multiple areas, such as its attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, poor profit margins and weak operating cash flow.

Highlights from TheStreet Ratings analysis on OSN go as follows:

  • OSN's debt-to-equity ratio of 0.75 is somewhat low overall, but it is high when compared to the industry average, implying that the management of the debt levels should be evaluated further. Despite the fact that OSN's debt-to-equity ratio is mixed in its results, the company's quick ratio of 1.53 is high and demonstrates strong liquidity.
  • OSSEN INNOVATION CO LTD -ADR has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. This company has not demonstrated a clear trend in earnings over the past 2 years, making it difficult to accurately predict earnings for the coming year. During the past fiscal year, OSSEN INNOVATION CO LTD -ADR increased its bottom line by earning $0.18 versus $0.12 in the prior year.
  • Net operating cash flow has significantly decreased to -$2.31 million or 141.05% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Metals & Mining industry. The net income has significantly decreased by 72.1% when compared to the same quarter one year ago, falling from $1.68 million to $0.47 million.

You can view the full analysis from the report here: Ossen Innovation Ratings Report

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Alderon Iron Ore ( AXX) was another company that pushed the Basic Materials sector lower today. Alderon Iron Ore was down $0.01 (6.6%) to $0.21 on light volume. Throughout the day, 5,600 shares of Alderon Iron Ore exchanged hands as compared to its average daily volume of 35,100 shares. The stock ranged in price between $0.21-$0.22 after having opened the day at $0.22 as compared to the previous trading day's close of $0.23.

Alderon Iron Ore has a market cap of $29.9 million and is part of the energy industry. Shares are down 32.0% year-to-date as of the close of trading on Monday.

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