3 Basic Materials Stocks On The Rise

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 86 points (-0.5%) at 18,509 as of Thursday, July 21, 2016, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,295 issues advancing vs. 1,607 declining with 160 unchanged.

The Basic Materials sector currently sits up 0.1% versus the S&P 500, which is down 0.3%. Top gainers within the sector include Encana ( ECA), up 8.2%, Gold Fields ( GFI), up 6.5%, Anglogold Ashanti ( AU), up 5.8%, Companhia Siderurgica Nacional ( SID), up 5.0% and Teck Resources ( TCK), up 4.2%. On the negative front, top decliners within the sector include Kinder Morgan ( KMI), down 4.0%, Nucor ( NUE), down 2.8%, Energy Transfer Equity ( ETE), down 2.2%, PPG Industries ( PPG), down 2.0% and Hess ( HES), down 1.5%.

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

3. Randgold Resources ( GOLD) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Randgold Resources is up $2.39 (2.1%) to $115.42 on average volume. Thus far, 497,463 shares of Randgold Resources exchanged hands as compared to its average daily volume of 1.1 million shares. The stock has ranged in price between $113.05-$115.80 after having opened the day at $113.49 as compared to the previous trading day's close of $113.03.

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Randgold Resources Limited explores for and develops gold deposits in Sub-Saharan Africa. Randgold Resources has a market cap of $11.0 billion and is part of the metals & mining industry. Shares are up 82.5% year-to-date as of the close of trading on Wednesday. Currently there are 4 analysts who rate Randgold Resources a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Randgold Resources as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, solid stock price performance and increase in net income. We feel its strengths outweigh the fact that the company shows weak operating cash flow. Get the full Randgold Resources Ratings Report now.

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2. As of noon trading, Agnico Eagle Mines ( AEM) is up $1.12 (2.1%) to $53.37 on average volume. Thus far, 1.1 million shares of Agnico Eagle Mines exchanged hands as compared to its average daily volume of 2.5 million shares. The stock has ranged in price between $52.05-$53.62 after having opened the day at $52.45 as compared to the previous trading day's close of $52.25.

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Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Finland, and Mexico. It operates through three segments: Northern Business, Southern Business, and Exploration. Agnico Eagle Mines has a market cap of $12.3 billion and is part of the metals & mining industry. Shares are up 98.8% year-to-date as of the close of trading on Wednesday. Currently there are 7 analysts who rate Agnico Eagle Mines a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Agnico Eagle Mines as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. Get the full Agnico Eagle Mines Ratings Report now.

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1. As of noon trading, Vale ( VALE) is up $0.12 (2.3%) to $5.29 on average volume. Thus far, 19.7 million shares of Vale exchanged hands as compared to its average daily volume of 29.2 million shares. The stock has ranged in price between $5.22-$5.43 after having opened the day at $5.27 as compared to the previous trading day's close of $5.17.

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Vale S.A., together with its subsidiaries, engages in the research, production, and sale of iron ore and pellets, gold, silver, and cobalt, as well as raw materials for steelmaking in Brazil and internationally. Vale has a market cap of $27.3 billion and is part of the metals & mining industry. Shares are up 57.1% year-to-date as of the close of trading on Wednesday. Currently there are 3 analysts who rate Vale a buy, 3 analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Vale as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk. Get the full Vale Ratings Report now.

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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).

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